Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 9 years ago,
Selling a warehouse and sellers have a tax lien
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