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Real Estate Property Tax Lien Info
Posted on 6/21/20 at 12:31 pm
Posted on 6/21/20 at 12:31 pm
I would appreciate some info from the real estate guys in here that may have dealt with a similar situation.
Quick summary, my wife and I found a property/home near our current one that we love, and contacted the owners to see if they had any interest in selling. They were interested, and we negotiated a price, closing date for this spring, etc. This was late last year to allow them time to get things in order since they didn't have it on the market.
We were told in early January for the first time that there was a tax lien on the property - it was an inheritance property and related to the prior owners (his relatives) business.
We are now months past the proposed closing date. Nothing official from a legal document standpoint has ever been signed, so we can back out with literally zero consequence. However, we want the property.
They are apparently negotiating/fighting the lien with the IRS and do not have a definitive timeline, especially in this current environment.
Long background story to ask a simple quesiton. Is there any way for us to find out the amount of this lien? If so, what info would we need?
I'm willing to give this a little more time depending...but if I find out he's holding out for some relatively small amount he should just pay off and move on, I'm more likely to eject from this deal. Much more likely.
Quick summary, my wife and I found a property/home near our current one that we love, and contacted the owners to see if they had any interest in selling. They were interested, and we negotiated a price, closing date for this spring, etc. This was late last year to allow them time to get things in order since they didn't have it on the market.
We were told in early January for the first time that there was a tax lien on the property - it was an inheritance property and related to the prior owners (his relatives) business.
We are now months past the proposed closing date. Nothing official from a legal document standpoint has ever been signed, so we can back out with literally zero consequence. However, we want the property.
They are apparently negotiating/fighting the lien with the IRS and do not have a definitive timeline, especially in this current environment.
Long background story to ask a simple quesiton. Is there any way for us to find out the amount of this lien? If so, what info would we need?
I'm willing to give this a little more time depending...but if I find out he's holding out for some relatively small amount he should just pay off and move on, I'm more likely to eject from this deal. Much more likely.
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