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Updated almost 9 years ago on . Most recent reply

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Peter Hoopai
  • San rafael, CA
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Selling a warehouse and sellers have a tax lien

Peter Hoopai
  • San rafael, CA
Posted

Looking for tax advice. I apologize for this lengthy question.

   I have a somewhat complicated situation.  Both sellers have a tax lien roughly totaling 300k. Could be an exaggeration but I'll get more details as this progresses. Remaining loan is roughly $430k. There have been a few offers that haven't panned out for one reason or another but there is currently an offer from a serious buyer( so far) that is willing to be creative. The offer is 100k less than any other offer we've been in contract with.its $950k but he has cash and is willing to be creative. Original purchase price looks to be $722k. 

  They are concerned that at $950 they won't have enough meat on the bone after taxes to support them as they move on for the next year or so. They have a modest income of $2500/mo. Not greedy people both comfortable with a modest living.  Just trying to get them the best case scenario considering the situation. 

  Completely open to all criticism and corrections

Thank you

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