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Updated over 6 years ago,
Will the IRS negotiate
I've heard many real estate gurus say that the IRS will negotiate a lien on a property as long as you have been transferred ownership to that property. The example they give usually is that somebody has no equity and is in foreclosure so they Quit claim a deed to you, Then you contact the IRS to have the lien removed or released as long as you can show there is no substantial equity.
My question is this : Will the IRS work with you as a buyer of a property that has an IRS lien on it if you have NOT been given a deed to it and don't own it yet? Suppose it is just a general purchase and sale? For example, a house is worth $100 k and the buyer owes $80 k first mortgage and a $30k IRS lien behind it. What choices do you have to make this sale happen? Can you negotiate off that $30 k or even get it reduced ?
I know variations of this question have been asked before but can't find this specific question. Thanks!
Bruce