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Trying to sell or refinance with an IRS lien

By
Real Estate Agent with Ebby Halliday Realtors

I am currently working with a couple who is selling their home as a short sale and there is a sizable IRS lien on the property.

We have approval on the deal and have about 30 days to get it closed, subject to the IRS lien accepting about 10% of what is owed.  The homeowner is frustrated because all he ever gets at IRS is a recording and has not been able to talk to anyone. 

I decided to little research of my own and learned that this situation is not new to the IRS and they actually have created a form and a process to accelerate the sale or refinance of  a property in this situation.

For more information on this subject, visit IRS.  The link to this subject is:

http://www.irs.gov/newsroom/article/0,,id=201343,00.html

 

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Comments(1)

Irina Riley
American Dream Colorado - Woodland Park, CO
GRI, SFR, CNE, e-PRO, SRES

Pat, thank you very much for this information. I will keep this in mind if I have situation like this.

Mar 05, 2010 06:01 AM