In order to present a clear tile to the purchaser of your home, it must first be clear of all liens. Owe property taxes on your home? Back taxes from the IRS? Blight Tickets? Mechanic’s Liens? or worse… All of these things will delay the sale of your home substantially.
Owe the IRS money? – Their Liens supersedes all other liens and they are able to not only go after your home but also after everything else you may own. The IRS will file a notice of federal tax lien with the Deed Recorder in your county or with the Secretary of State.
In Detroit, property tax liens will be attached to your home when you are behind on paying the city of Detroit it’s property taxes. This means that although you can still sell your home, you will have to pay those taxes in full before the sale can finalize. When this is the case, you will have to negotiate the with the buyer on who is responsible for the payment of these back taxes.
Remember, when you got your cash offer from a home buyer in Detroit, they do not calculate and extra money spent on paying off Your Debts.
How to Finally Sell Your Home
The fastest and easiest way to sell your home when you owe property taxes, have liens attached or Blight tickets, is to sell your home for a price that covers all of those costs and still puts money in your pocket.
EXAMPLE: You are selling your home for $50,000.00 in Detroit. When the title company finds that you owe $4,500.00 in delinquent taxes, and a $1,000.00 water bill, along with a $3,000.00 mechanics lien placed on your property 10 years ago over a dispute on your landscaping work with a contractor; you will need to negotiate $8,500.00 our of the $50,000.00 sale price. Ultimately netting you $41,500.00 instead of the $50,000.00 you had agreed on.
Find common ground with your buyer and negotiate a bit to come to an agreement so that you may sell your home quickly. If you are interested in selling your home and you owe property taxes, call (313) 878-1606