lien
Selling a House With an IRS Lien
Too sell a home with an IRS tax lien, you should remove the tax lien before closing the deal. Q: I am an enrolled agent with 20 years of practice, and 30 years working for the IRS. I thoroughly enjoyed …
Selling A House With A Lien
Q: Does an IRS lien follow a homeowner or a property? We’re selling our home and we can’t get a straight answer from the bank. We consulted with another professional in the finance industry, and he says an IRS lien …
How to File a Title Insurance Claim
Q: I purchased land in 2003 and obtained a title insurance policy from one of the most prominent title insurance companies in the country. Additional title searches and policies were issued when I obtained a construction loan and a loan …
Pay Off Lien On Inherited Property
Q: I am co-trustee of my mother’s estate. I was informed by my mom’s mortgage company of the debt, $4,000.00 and that there is a lien on the condominium. I would like to settle the debt but the lender has …
Pay Off Tax Lien Before Selling Property
A homeowner must pay off a tax lien before selling property. The state will place a tax lien on property if the owner has not paid his or her taxes. The homeowner will not be able to sell the property before paying off the tax lien. Contact a real estate attorney for more help with how to pay off a tax lien before selling property.
Neighborhood CC&R Enforced With Lien
Neighborhood CC&R enforced with lien against homeowner not paying for community road repairs. Neighbor refuses to pay for community road repairs, neighborhood CC&R is enforced. Enforce a neighborhood CC&R with a lien against a homeowner refusing to pay for community road repairs. Neighborhood without homeowners’ association still has rights in neighborhood CC&R. CC&R or covenants, conditions and restrictions takes place of homeowners association in neighborhood.
Lien On Property Shouldn’t Be Paid With Retirement Funds
Liens on property must be paid, but make sure you truly owe money on the liens. If you owe money on a lien and want to pay it off quick be careful with removing funds from a retirement fund. Don’t rush paying off a lien if it means dipping into a 401(k). The tax penalties of removing from your 401(k) savings can be harsh. Talk to a real estate agent to find out more about liens on your property.
Back Taxes Owed On Foreclosed Property Might Fall On Buyer
Buying a foreclosed property might include taking ownership of unpaid back taxes. If you buy a foreclosed house with liens or back taxes, you could be held responsible for paying the liens and back taxes upon purchase of the home or property. Buying a short sale should not make a buyer subject to liens or back taxes. Know the difference between a short sale, foreclosed property and an REO property and make sure you research the property to see if the home has any unpaid real estate taxes or liens.
Divorce Short Sale Is Complicated By A Lien
Completing a short sale on your home after a divorce may be complicated in there is a lien on the home. You may be forced to try to do a short sale if your finances have been hit by the divorce or unemployment or medical expenses. If you’re trying to do a short sale because of a divorce, dividing ownership between spouses can be difficult. A lien can be placed on the house for either spouse’s credit problems. A divorce short sale is made even more complicated by a lien on the house.
Short Sale and Real Estate Taxes
Whey you go out and buy real estate, you should make sure you understand the process of buying a home and surround yourself with a competent real estate attorney, real estate agent and mortgage broker or lender. You should do that and more if you decide to move forward and buy a short sale home or even a foreclosed home. Now more than ever, buyers need to use caution before buying a home.
You might not think that you need an attorney for the purchase or title insurance or a real estate broker, but if you don’t know what you are doing, you might pay dearly.
