I've been thinking about this private sale offer I'm about
I've been thinking about this private sale offer I'm about to make on a property in Montgomery County, PA...but the deal seems too good to be true if their is no mortgage payoff by me to the bank. Before I place my offer as I'm prepared to buy for past owed taxes and city/county liens...who can I contact to make sure the bank isn't asking for any money from me? ...I don't feel that the county person knows this answer before I place offer. Can I ask title company to find this out? Is there fee I can pay you to find this out?
I am trying to sell my building, and have buyers in line,
I am trying to sell my building, and have buyers in line, but found old tax leins that are preventing the sale. All of them are from 2002 and older. How long does a tax lein last and how do I get them removed? I'm in the state of Louisiana, inside the city limits of Shreveport
Lauren, I am reaching out to you regarding the same matter,
Hi Lauren,I am reaching out to you regarding the same matter, that is the purchase of a property (residence) when the seller is in bank ruptcy. I had my attorney call the Trustee of the Court and they referred him back to her attorney who apparently is handling things.The seller goes to court tomorrow with her attorney for a "confirmation hearing". The attorney will dismiss the bankruptcy. The seller will have the paperwork to show she has a buyer for her property (me). If the bankruptcy is dismissed, is the seller in a vulnerable position if she up-to-date on the trustee and mortgage payments? They cannot foreclose on her, correct? The escrow has been extended until the end of October. I assume once we have the judge's approval and her attorney dismisses the bankruptcy, I am in the clear to purchase the home once the liens are paid off and title is clear, correct? Can you provide an estimate of how long you think it takes for title to clear? She has two mortgages, one tax lien, one car lien and one other small amount. Thanks, Rose
We have a member in our Home Owners Association who was
We have a member in our Home Owners Association who was several years past due with his association dues. We put a lien on his property. He did not pay his taxes and the property was sold at a tax sale. Does this wipe out our lien or does the new member have to pay off the liens? Pike County, PA
Thanks for responding. Some more background to help you
Thanks for responding David. Some more background to help you understand a little more. The seller is an investment company and bought the house from an auction sale for $33K, conducted over by the county sheriff on govt. orders confiscated from the dead man's family trust, since the original owner a dentist, had passed away 4 years ago and had at that time owed IRS $1.2M in debt and that showed up on the house in 3 different liens : 1) $500K 2) $300K & 3) $300K. Now the seller is trying to get the two liens non-attached / waived off by IRS and the third one at closing since i offered $660K for the house purchase. I am attaching the latest response from Seller and my response to that, but he's choosing to not respond. We're past the official closing date of 16th Sep and the seller is in breach of contract.I can wait for the house as long as required but realistically don't want the seller to know that. What chances are there for the IRS liens to be removed and by when?Need more clarity on my thought process in the worst case. If i want to sue the seller for damages in a superior court, based on the case history of what i've shared so far with you, can you give me a rough idea of what are the min. time and costs to expect? I need to understand what do i stand to gain in that case. Would i be able to force seller to sell the house and also pay substantial damages e.g., somewhere between $10-20K? What would be the typical attorney fees? I know these are all very specific questions. But since i've never experienced this situation before i want to understand some estimates even if they're very wild estimates. I know i could put a Lis Pendens while the court decides and goto a small claims court but that would only get me $4K in damages and no guarantee of getting the house still. Thanks
Need some specific advice on the following Background. Been
Need some specific advice on the following Background. Been working with Richard so far and got great advice, would be good to get a 2nd opinion as well.Background:Purchasing a 2nd home and found out from the seller that it has three IRS Tax liens on it, 8 days before closing of the purchase contract. Now seller saying that he's pursuing non-attachment with IRS through CPA/lawyer and would need the deadline to be extended with a "To be decided" closing date. I like the property and want to pursue purchasing it but need to make sure i'm pursuing with caution and all my rights protected. Closing date expired but seller not really not responding well. I can sue but need to understand what all can i realistically get and whether the house also or not?
I'm in the process of closing a commercial escrow deal but
I'm in the process of closing a commercial escrow deal but have not seen any docs regarding the business (tax clearance, liens, etc). Also, the verbal agreement for the fees has now changed and was not originally documented. What is my option?I was forced to release 75% of the deposit to the seller. Can I still cancel the transaction at this stage and not have penalties applied?
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We are financing a solar electric project through the PACE
We are financing a solar electric project through the PACE program in Broward county Florida. Quicken Loans my mortgage company said I could face tax problems down the road. What are the tax problems and how can I avoid them.