Q: There is a lien on our house for property taxes. We want to sell the house to be able to move where we can find work.
Is there a type of sale where the buyer pays the past due taxes and pays less for the house? Or some way to get out of the hole we are in? we have absolutely nothing else.
A: When you sell the house all liens have to be paid off unless the lienholder is willing to take a lesser amount.
The question only comes up if the sale price doesn't cover the liens.
A: Ray Choudry is right. Assuming the net proceeds from the sale of the house allow it, the taxes will be paid at closing by the title insurance company from the proceeds of the sale. You've got a problem only if those net proceeds are insufficient for this purpose.
A: The short answer, yes you can do this. However, it would require the right buyer and for the taxes to be negotiated into the sales price. Because of the complexity of the transaction, you should hire an attorney to handle the sale of your home. Typically, attorneys charge a nominal amount for real estate closings. Thus, contact a real estate attorney and allow your agent and us to handle the details.
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