IRS Lien for over $125000!
Hello,
I am working on a deal that has several IRS tax liens totaling over $125k (plus interest), these liens are set to drop off as of 2023. This home also has a mortgage of $80k and needs about $10k in repairs, the ARV is $235k.
I was going to offer this seller $20k and assume the mortgage and IRS liens. I plan on renting out the home for several years and hoping that the IRS liens will drop off before I ever consider a sale.
Does anyone here have experience in dealing with a situation like this? What are the risks? What can I expect?
TIA!!!