What is a tax lien?
A lien is a creditor placing judgement on a property. A mortgage is an example of a lien.
When you don’t pay taxes, a tax lien is placed on the property. Now the option is to sell it and use the proceeds to pay off the lien.
At Effortless Home Buyers, we can help take care of everything.
To find out more about this, you can visit our website at: https://www.effortlesshomebuyers.com/
Fernando O. Angelucci is Founder and President of Titan Wealth Group. He also leads the firm’s finance and acquisitions departments. Fernando Angelucci and Steven Wear founded Titan Wealth Group in 2015, and under his leadership, the firm’s revenue has grown over 100% year over year. Today,
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So what is a Tax Lien? And do we buy properties that have Tax Liens on them? And the answer is yes. So a Tax Lien, a lien is a creditor placing a basically a judgment on your property saying, this person cannot sell their property until they pay this debt back. A mortgage is an example of a lien. When you don't pay your taxes, it can either be property taxes, or it can be your income taxes, when you don't pay your taxes, the body that is owed those taxes may and will place a lien on your property. If you're unable to pay those taxes off, to get their lien removed, usually the only option you'll have at that point is to sell the property and to use the proceeds of the sale to pay off that lien. Now, this is something that we can handle for you.
We, we do buy these types of properties and what will happen is all of that will be taken care of at closing. Our attorneys will handle the entire thing. They'll call all the creditors and say, how much is owed. Give us a payoff letter. And then from the proceeds, the attorneys and the title company will pay off all the liens to transfer title in a clean fashion. You cannot buy a property with liens on it and still get clean title. So they'll always have to be paid off. Once everything's paid off, if there's any proceeds left, then those proceeds will be distributed to you to go and, and start on the next chapter of your life.
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