I recently published the article “Will Opendoor Buy My House with a Tax Lien” and thought I’d share my perspective with a group of real estate professionals on an niche market where traditional real estate professionals can “out-compete” the online or e-brokers such as Opendoor, Knock, Offerpad, etc. The niche area is representing sellers who have tax liens on their homes that won’t be paid in full with the proceeds of their homes.
The aforementioned article goes into much further detail about tax liens and how they can be resolved prior to a closing to allow clean title to pass to the buyer at closing. However, for summary purposes, the issue that often arises for sellers with tax liens who cannot pay their tax debt in full out of the proceeds is getting the required appraisal from a disinterested third-party. The disinterested third-party is often times a buyer’s lender who orders the appraisal. For business reasons, e-brokers may not be incentivized to bring in another party to provide a different valuation to their clients. As such, this is an area where traditional real estate professionals can truly shine and show their value.
I’m curious to hear your thoughts as real estate professionals on this matter.
Referenced Article Link: https://laurenmassie.com/sell-house-with-a-tax-lien/
About the Author:
Lauren Massie, CPA, EA, MBA resides in Raleigh, North Carolina. The primary focus of her CPA practice is income tax representation for individuals facing issues with the IRS or state taxing authorities (i.e., NCDOR). As such, she often work with sellers, real estate agents, and real estate attorneys to resolve tax lien and judgment issues so that homes can be successfully sold. She can be contacted by phone at (919) 792-8511 or you can email her directly using this link.