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How to Sell a Orange County House When You Own Back Taxes

Tax liens are like a giant stop sign for property owners who are ready to sell. Especially for those faced with a tax lien placed on their property so high that selling their home is the only option available to repay the debt, which will be due at closing. A word to the wise, working with the government, be it local, state, or the IRS, towards settling a tax lien is a long process, so don’t wait until your house sells to contact the tax authorities and begin to work with them towards a solution. 

Take action immediately to tackle your tax lien head-on. The more swiftly you deal with the problem, the more money you will save because high penalties and interest will increase the debt day by day, depleting any equity remaining in the property.

While you should always consult a professional tax adviser to discuss your specific circumstances, our experts have gathered the following information about how to sell a Orange County house when you owe back taxes.

Abatement

Many local taxing authorities can create a repayment plan or forgive back taxes for a Orange County house, should the owner prove significant hardship or meet specific income guidelines. 

Satisfy the Delinquent Tax

Paying off the lien before selling your Orange County house when you owe back taxes is the easiest way to avoid any problems with the closing. A tax attorney may also be able to negotiate a settlement on your behalf to satisfy your debt. Protect yourself by verifying the recording of the lien release.

Dispute

If you’ve settled the debt or the lien for back taxes is due to an error in identity, it is well worth hiring an attorney with experience in disputing tax liens to help you sell a Orange County house.

Certificate of Discharge

You can approach the IRS for a certificate of discharge, which will remove the lien from your property. However, while you can still sell a Orange County house when you owe back taxes, you will still owe the debt. 

Pay at Closing

It is common for the debt to be settled at the closing on a Orange County house when you owe back taxes. After you’ve verified the exact amount with the title agent handling the closing, ensure you have requested your certificate of release. A state representative will attend the closing, collect the tax debt from the title company’s closing agent, and issue a loan release.  will 

Expiration

Though this is an infrequent occurrence, to say the least, lower tax bills owed to the IRS may be allowed to expire after the ten-year statute of limitations on tax debts, meaning you may not have to sell a Orange County house when you owe back taxes. Hoping that your debt will expire isn’t adviseable as your plan of action.

Bankruptcy

If you are unable to pay the debt, claiming bankruptcy may just be your best option to sell a Orange County house when you owe back taxes. If you want to maintain ownership, however, you will still owe the debt.

H&M Realty Group

H&M Realty Group will buy your house for cash in Orange County and work directly with the title company, making it an easy process to sell when you owe back taxes. The professionals at H&M Realty Group have years of experience helping homeowners just like you. With simple contracts and a straightforward process, you won’t even have to worry about making repairs; H&M Realty Group will buy your home as-is. Closing is fast and guaranteed, typically in a matter of days, or if you need a little more time, just let H&M Realty Group know the best day for you. Contact H&M Realty Group at 949-625-4533 today!

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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