IRS owns the house ,& is owed $55,000 on this house. What now ??
just had a situation come up on a Property , that I'm Not 100% sure as to how this transaction will work / who to talk to, so that I can pay in Cash for this Property ASAP
The IRS owns the house via a Tax Lien ,& is owed $55,000 on this house. What are the Options ??
My main question is ....... Will they likely except an amount LESS THAN the $55,000 ?
Will they take say , 75% of the $55,000 ..... so about $41,000 ?
50% of the $55,000 ....... so $27,500 ?
No one has been in this house for over a year now , and it is most definitely a distressed property
I'm just curious , if the IRS just wants this Property Sold and off their books, and they'll be willing to make a deal on it
OR
if they HAVE TO sell it / take a minimum Percent of what is Owed for it ?
It will be paid all in once and all in cash of course ........ Is this an Incentive for them to give you one Heck of a deal on a Property as is this situation ?
Lastly please,
What Department of the City/County do I need to call , as to find out how / who I need to pay and get the correct paperwork and documents drawn up , for a transaction such as this ..... The IRS " owning " the property via a Tax Lien ?
Thank you for any Information and recommendations