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Getting Rid of
a Tax Lien


When the owner of a property fails to pay the    Contents
                                                 Introduction…………...................……...1
taxes owing on it - or for that matter their
                                                 Impact on the Owner......................…2
personal income tax - the authorities can        Impact on a Buyer..............................2

place a hold on it until the bill is settled.    Getting Rid of Tax Liens.....................2

                                                 Impact of Bad Credit Records….......3
Getting rid of a tax lien on a property may be
simple, but it can be difficult if you do not
have the money.
2
                                Impact on the Owner
                                 
                                While an owner with a tax lien may put the property on
                                the market and even sell it, the lien is on the property
                                itself and runs with it. Few buyers will entertain this idea
                                seriously, especially if the lien is for a large amount of
                                money.




Impact on a Buyer
 
The purchaser of a property with a tax lien theoretically owes the seller’s tax, and will
face the same problem as the previous owner did if they decide to sell. Some speculators
buy bad debt. Wise homeowners should rather not.




Getting Rid of Tax Liens
 
There are two ways to eliminate a tax lien. One is to pay the
authorities back their tax. This is easy when you have the
money. The other way to get rid of a tax lien is to wait for it
to expire. This can take up to ten years, after which the
original debtor will still retain their bad credit record.
Impact of Bad Credit Records                                                                                   3
 
A bad credit record arising from a tax lien can prevent
you from buying a house at ForeclosureDeals.com. This is
a burden that you do not need to carry with you through
life. Our advice is to negotiate with the tax authority and
agree         a     repayment plan that both                of   you   can
accommodate.




                                             Getting rid of a tax lien on a property is usually essential
Foreclosure Deals                            before selling real estate. A buyer is wise to insist that this

12550 Biscayne Blvd, 306, North              be done before ownership is passed. If the amount is
Miami, FL 33181
FAX: 1-347-402-6620                          small, the buyer could even agree to pay it up, subject to
Contact@foreclosuredeals.com
If it’s not a deal, we won’t list it here!   the other terms of the deal.
Find us on the Web:
www.ForeclosureDeals.com

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Getting rid of a tax lien

  • 1. Getting Rid of a Tax Lien When the owner of a property fails to pay the Contents Introduction…………...................……...1 taxes owing on it - or for that matter their Impact on the Owner......................…2 personal income tax - the authorities can Impact on a Buyer..............................2 place a hold on it until the bill is settled. Getting Rid of Tax Liens.....................2 Impact of Bad Credit Records….......3 Getting rid of a tax lien on a property may be simple, but it can be difficult if you do not have the money.
  • 2. 2 Impact on the Owner   While an owner with a tax lien may put the property on the market and even sell it, the lien is on the property itself and runs with it. Few buyers will entertain this idea seriously, especially if the lien is for a large amount of money. Impact on a Buyer   The purchaser of a property with a tax lien theoretically owes the seller’s tax, and will face the same problem as the previous owner did if they decide to sell. Some speculators buy bad debt. Wise homeowners should rather not. Getting Rid of Tax Liens   There are two ways to eliminate a tax lien. One is to pay the authorities back their tax. This is easy when you have the money. The other way to get rid of a tax lien is to wait for it to expire. This can take up to ten years, after which the original debtor will still retain their bad credit record.
  • 3. Impact of Bad Credit Records 3   A bad credit record arising from a tax lien can prevent you from buying a house at ForeclosureDeals.com. This is a burden that you do not need to carry with you through life. Our advice is to negotiate with the tax authority and agree a repayment plan that both of you can accommodate. Getting rid of a tax lien on a property is usually essential Foreclosure Deals before selling real estate. A buyer is wise to insist that this 12550 Biscayne Blvd, 306, North be done before ownership is passed. If the amount is Miami, FL 33181 FAX: 1-347-402-6620 small, the buyer could even agree to pay it up, subject to Contact@foreclosuredeals.com If it’s not a deal, we won’t list it here! the other terms of the deal. Find us on the Web: www.ForeclosureDeals.com