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Updated over 13 years ago,

Josh D.'s profile image
Josh D.'s profile image
Josh D.
  • Real Estate Investor
  • from Tampa, Florida
  • Member since Oct 16, 2009
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Josh D.'s profile image
Josh D.'s profile image
Josh D.
  • Real Estate Investor
  • from Tampa, Florida
  • Member since Oct 16, 2009
Connect
Josh D.
  • Real Estate Investor
  • Tampa, FL
0
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11
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Foreclosures

Short Sale with IRS Tax Lien

Josh D.
  • Real Estate Investor
  • Tampa, FL
Posted

Does anyone know what the IRS's standards are for releasing tax liens on properties that are underwater?

I've got an approval on a property at $605K that appraises at $830K. The outstanding first mortgage is over $1M.

Will the IRS think there's equity because of my purchase price vs. the appraised price or are they strictly comparing appraised price with the outstanding 1st mortgage?

Thanks

JD

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