IRS lien

Posted by kylie on October 25, 2002 at 18:06:39:

Another problem has come up with the house we are purchasing in CA. The house has an IRS tax lien and we know the people are in financial trouble. Does this lien need to be cleared before escrow can complete??? Or can the sellers pay off the IRS from their house equity, during the escrow completion process?? I suspect it will be very dificult for them to borrow money to pay the IRS at this stage.

Thanks

Kylie

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• Ramifications of IRS lien (url) - Ward-CA- 01:31:50 10/27/02 (0)

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Comments:
: Another problem has come up with the house we are purchasing in CA. The house has an IRS tax lien and we know the people are in financial trouble. Does this lien need to be cleared before escrow can complete??? Or can the sellers pay off the IRS from their house equity, during the escrow completion process?? I suspect it will be very dificult for them to borrow money to pay the IRS at this stage.

: Thanks

: Kylie


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