IRS Tax Lien Purchase

[Levi Graziano]

I currently have a contract on a duplex. The day before closing my agent called to inform me the property has an IRS lien against it. We were supposed to close Sept 22. I'm on my second extension now, loan is locked until Nov 30. My question is, has anyone dealt with this before and how long did/ does it take for the IRS to agree to the deal? Its been nearly a month now and the IRS still hasn't approved. 

[Linda Weygant]

I would not count on them accepting a lesser amount.  It will depend on the total amount of the tax debt and whatever other assets they've put a lien on, but unless the taxpayer has negotiated the IRS taking a lower amount, they won't automatically do it just because your contract is for a lesser amount.

Please update this thread if they do end up accepting less and let us know how it goes.