Short Sale
I have a very good short sale situation.However, there is IRS lien also. Is it possible to negotiate with IRS to reduce lien amount? Your feedback will be very much appreciated.
I have a very good short sale situation.However, there is IRS lien also. Is it possible to negotiate with IRS to reduce lien amount? Your feedback will be very much appreciated.
Yes, It is entirely possible to negotiate a release of lien, or a reduction in payoff.
Hello,
I was just in a situation with an IRS lien. The lien was around 10k and the homeowners lost the property at foreclosure. The attorneys did a bad foreclosure and knowone knew the lien was there. I could have gotten out of it but even paying 10k the deal was still worth it. Bottom line, I bought the property and had a choice of waiting 120 days for the IRS to waive their right of redemption or see if I can negotiate a pay off. FYI, generally I am told that unless the lien is substanial the IRS usually waives their rights. I spent quite a long time trying to find the right person at the IRS and explained that I would like to make them an offer (they have a specific form to do so which they faxed to me). Along with the offer I faxed them a statement of value (on the very low side) from a local realtor who is a friend. The IRS will ask for this or an appraisal. I sent back the offer form offering $1000. They would other wise receive $0. They gladly took the $1000 and sent me a letter to record that cleared the title. Yes, you can negotiate with the IRS.
Hope this helps