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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29971
Experience:  Taxes, Immigration, Labor Relations
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I am very interested in buying a home in Georgia that is in

Customer Question

I am very interested in buying a home in Georgia that is in foreclosure with the sale date coming up in June. I had been in communication with the homeowner prior to this in hopes of buying the house before it reached this stage, but he has truly "washed his hands of it". I learned from him that there is a $69,000 IRS tax lien on this house. My questions is this: If I am able to buy the house at the auction, is the IRS tax lien going to become my responsibility to pay OR is there any way for me to have the lien removed AFTER I purchase the house? I don't want to go forward with attempting to purchase the house if I have to pay the $69,000 lien. I want to buy the house at a low price, fix it up and rent it since it is in a well sought after location.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

If you purchase directly from the owner - the lien will stay with the property.

Expert:  Lev replied 1 year ago.

If the bank took the ownership on the property - and you purchase via the title company and pay for the title insurance - the lien must be cleared with proceeds from the sale before the title is transferred to you.

The lien MUST be removed before the title is transferred - otherwise - the lien will be YOUR responsibility.

Please be sure to ask if you need any clarification.