Tax liens can be stressful. They are hard on your credit, and they can prevent you from selling your property because of the amount of the lien. If you’re facing a tax lien, you may want to list your property for sale and try to get it sold quickly. Then you can use the proceeds from the sale to pay your taxes, and also to find another place to live. Work with the IRS or other taxing authority that wants to place a lien on your property, in order to keep them “in the loop” when it comes to what you’re trying to do.
Then, add your Pensacola, FL home to the properties for sale in your area. Don’t go through a real estate agent, though. Homes for sale by owner are often a better choice. If you sell it yourself, you won’t have to pay a commission to an agent. That can save you thousands of dollars, and really help you spend as little as possible to sell your home. There are also investors and companies that buy homes for cash. Working with one of them can mean a quick closing that can help you avoid the tax lien.
Closing a real estate transaction often takes 30 to 45 days, but when cash is paid, it can take just a week or two. The extra time built into most loans is for the buyer to get a mortgage, so all that time isn’t needed when the deal is cash. That’s great news for anyone who has property to sell and who is facing a tax lien, since there may not be any time to waste in attempting to get the property sold before a lien can be placed. Sellers in this predicament are not trying to avoid paying the money they owe. They are just trying to avoid having a lien placed on their property.
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Once there is a tax lien on a piece of property, many buyers will shy away from it. They are concerned about getting the lien cleared correctly, and so they will often move on to look at something else. Liens can mean title problems, or delays in being able to purchase the property and close the deal. Rather than take the risk that you won’t be able to sell with the tax lien in place, it’s better to sell the property before the lien can be attached. Then you can pay the taxes you owe, without involving the property in any way.
It’s a much less stressful way to handle the situation, and one of the best options for your Pensacola, FL home and its tax situation. Whether you owe the taxes on the home itself, the lien is for income tax, or it’s based on city, state, or other types of tax, liens are best avoided. When you work with a company or an investor to buy your house for cash, you can get the peace of mind you need to get through a stressful financial time. Don’t let the fear of a tax lien steal your peace and emotional health.
Let a company that buys houses make you a cash offer on your property. You won’t have to worry about the buyer getting a mortgage, or the length of time it may take to get the deal closed. All you’ll need to do is pack and move, and then pay your outstanding taxes from the proceeds of the sale. There won’t be any lien to worry about, helping to really lower your stress level.
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