Are you a Columbia homeowner having trouble paying your taxes? Are you hoping to sell your Columbia house fast but are concerned that tax issues may hinder you from doing so? Rest assured that you can still sell your home despite the tax liens or other tax issues. We’ll show you how.
What Is a Lien Against a Property?
Whether issued by the IRS or another agency, a tax lien on your property happens because of an outstanding fee. If you don’t pay your property taxes, the local or county government might put a lien on your house. There are different liens, including property tax liens, state tax liens, and federal tax liens. A tax lien on your home means that you can’t benefit from the sale of your home because you haven’t paid off your tax liability. You also can’t refinance your mortgage until those taxes are paid off. So how can you sell your house in that situation?
Sell Your Home to Cover the Tax Debt
If you have enough equity in your home, you may be able to pay off your tax obligation when you sell it. After you’ve taken care of the tax liens, you’ll be able to pay down your mortgage balance and closing charges too.
When you don’t have enough equity to pay off both your mortgage and your tax lien, you’re in trouble. Then you have to look into other possibilities. One option is to sell your house to cash home buyers in Columbia, SC, to get rid of that tax lien.
Resolve Your Tax Problems Before Selling Your Home
The best option is to pay the tax dues before selling the house. The IRS and other government agencies will likely be willing to set you up with a payment plan to clear off your tax debt in monthly installments. There is also an option to apply for an Offer in Compromise, which, if accepted by IRS, allows you to pay an amount lower than the original tax amount you owe. Once you have cleared the tax dues, selling your house is more profitable.
Find a Buyer Willing to Take Over Your Lien
Finding a buyer to take over your lien is the least likely option. But if the lien amount is not large, and your home is worth it, the buyer might be willing to take over the lien.
If you are a homeowner having tax problems but thinking, “I need to sell my house fast in Columbia, SC,” we can help. We buy houses in Columbia, SC, as-is for cash! Even if there is a tax lien or any other tax problem, we will buy it! Give us a call, and we can find a solution together!