September 15, 2021

Is it Possible to Sell a Home with a Tax Lien in Prince George’s County?

Selling a home in Prince George’s County, Maryland is stressful enough, so if you’re dealing with a tax lien, you can expect the process to be more complicated. Essentially, you are pulled between the IRS and your mortgage lender while trying to find a qualified buyer. The good news is that you can still sell your home with a tax lien. But there are some things you’ll want to be aware of because they will affect the process and the profit you make. 

What Does it Mean to Have a Property Tax Lien? 

When your Prince George’s County home has a tax lien, it basically means the government made a claim on the property. This gives them a way to collect the money that you owe them. When you go to sell your home, you can’t take any profits from the sale until you’ve paid off your debt. You also can’t refinance your mortgage until the lien is paid off. 

Typically, tax liens are placed on properties when the homeowner hasn’t kept up with the mortgage payments or tax payments. You’ll know you have a lien on the property when you receive a demand payment letter. The lien will stay on your property until you pay it off. 

Can You Sell a Home with a Tax Lien in Prince George’s County? 

While the process is a bit more complicated, it is possible to sell a home with a tax lien. However, a past due tax bill is a high priority so you’ll have to pay this off before addressing other financial obligations, including your mortgage balance. 

In a perfect world, the sale of your home will cover the mortgage balance and any liens on the property. But this often doesn’t happen. Instead, you may have to make payments to the IRS until they lift the lien. Some other options you may have include:

• Changing the type of tax lien 
• Applying for a discharge of property
• Sending the IRS an application for subordination of the lien
• Requesting the option for withdrawal 

An Easier Way: Sell Your Home for Cash in Prince George’s County 

If you want to sell your home fast and pay off the lien, the quickest and easiest way to do this is by selling your home for cash in Prince George’s County. When you sell your home this way, you’re getting a full cash offer that you’ll receive at closing. With money in hand, you can pay off the lien and your mortgage. 

Selling your home for cash also means you get to keep the full cash offer because you don’t have to pay for realtor commissions, fees, closing costs, home staging and home repairs. This extra money can be put toward paying off the lien. 

4 Brothers Buy Houses in Prince George’s County Maryland. We have no problem buying homes with tax liens on them – we do this all the time! To learn more about our process and how to get your free cash offer, contact our cash home buyers in Maryland today.