Can I sell my House if I owe Back Taxes?
Just because you owe back taxes doesn’t mean that you can’t sell your property. Whether you have an IRS lien on your property or a lien from a local municipality or some other organization, you do have options and avenues you can take to unload your property. Evervest Home Buyers is a team of Missouri natives and we have extensive experience in offering options that help St. Louis, MO residents and homeowners get out from under their tax liens. Call us today at (314) 730-0366 to discuss your options, or contact us online to get a free estimate.
How to Sell your House if you owe Back Taxes
A tax lien on your property, either by the IRS or another organization is something that is going to have to be paid. Typically, these liens do extend to the value of your property as well your other financial holdings. So when you have a lien on your house, how do you sell it? Can you sell it? The answer is YES.
First, your going to need to look at the amount of back taxes you owe versus the value of your property. This is going to determine whether selling the house will pay off the taxes in full. In many cases, the IRS or the other municipal organization will require that you factor in your owe taxes when estimating the profit you will make off the sale. If your house is worth more than the taxes, and selling the property will pay off the full amount of the taxes, the sale of your house or property will most likely be allowed.
But if you owe back taxes, you may be on a time limit to avoid further negative actions. Currently, 68 days is the average amount of time that it takes for a house to sell in the traditional real estate market. If you have to sell your house fast, you may not have 68 days to avoid further actions by the IRS. So what can you do, what are your options?
You can sell your house to us, for cash, fast. We’re from Missouri.