When you have a lien on your home from tax debt, your increasing penalties and interest are likely adding pressure to your situation. Taking quick action can help you save your remaining equity. It will also lift the burden of tax debts hanging over you. Don’t try to hide the problem or list your home before you have a plan to deal with your lien holders. Doing so could cause more costly delays.

Selling your home could help solve your problem. But the process is already stressful. If you have a lien or tax issues, it can make things even more complicated. To sell the property, you need to pay off any debts. The order in which you do this depends on the type of lienholder. For example, primary mortgages and tax liens must be paid first. In more complicated cases, it’s advisable to work with a professional tax advisor or attorney to assist you.

Once you’re happy, make sure to get proof that you paid off the debt. This can be a recorded lien release, lien discharge, or satisfaction of mortgage. If there’s a lien on your house, and you have proof that you paid your taxes, you need to ask for a certificate of release. Do this before you close the sale. Ready to learn more about how to tackle this situation? Read on as we discuss how to handle liens and tax problems when selling your house Miami.

Expiring

Ignoring the problem isn’t the best choice. However, if you’ve lived with the lien for nearly ten years and the amount is low, the IRS might let the debt expire. However, take great caution with this approach as there is only a slight chance of your debt simply vanishing. So typically, instead, Uncle Sam files suit against the debtor for collection.

Pay It Off

Of course, if you should have the funds available, the simplest way to handle liens and tax problems when selling your house Miami is to pay off the debt.

Negotiate

You could try negotiating to handle liens and tax problems when selling your house Miami if there isn’t enough equity to cover the total debt. An attorney should be involved in this process.

Dispute

Disputing the debt is another way to handle liens and tax problems when selling your house Miami; however, you must have a qualified tax advisor appointed to represent you if the debt is with the IRS.

Cash Buyer

While complicated, another way to handle liens and tax problems when selling your house Miami is to look for a cash buyer to purchase the property, if circumstances allow this option legally, knowing that the buyer must pay the debt if they want to sell the home in the future.

Future Generation Homes

Your best option is to sell for cash to a direct buyer from Future Generation Homes and work the payment from your proceeds into the closing. Then, talk to the experts at Future Generation Homes who can help. We’ll take care of any liens and tax issues when you sell your house in Miami. Our process at Future Generation Homes is quick, easy, and transparent. At Future Generation Homes, our direct buyers never charge commissions. We guarantee closings and work with you to find the best date, usually within just a few days. You’ll have the numbers to compare our offer with what you’d make from a traditional listing. This way, you can choose the best option for you. Call Future Generation Homes at (786) 400-2628.