Home Buying in 21403>Question Details

Gina, Home Buyer in Annapolis, MD

I'm in the market for a new home in the 200k - 250k range. I also have a tax lien of 18K. How do I utilize?

Asked by Gina, Annapolis, MD Thu Jun 12, 2008

a seller's concession in this case or is it even possible. Thanks

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Answers

6
yes, please explain this tax lien in more detail. If it's your lien, it only affects your ability to get financing and not anything else.
1 vote Thank Flag Link Fri Jun 13, 2008
Hi Gina, if you have a tax lien against you, then most likely you will need to clear this up before purchasing a home. Having said this, I can put you in contact with a loan officer who can help you. I can be reached at 443-867-4181. Best of luck.
0 votes Thank Flag Link Thu Aug 30, 2012
Hi Gina,

I don't know of any way to utilize a seller concession to pay off your tax lien. You could very likely get a seller contribution to cover your closing costs and then use your savings to pay off the lien.
0 votes Thank Flag Link Mon Aug 27, 2012
Hi Gina,

A tax lien would be a negative item on your credit report. It may or may not be possible to purchase without clearing that up if you have a finalized payment plan. You need to contact a good local lender to get pre-qualified before you start your home search.

There is no legal way to have a seller pay off your tax lien.
0 votes Thank Flag Link Wed Aug 22, 2012
If you have a tax lien against you , you will be required to satisfy it (pay it) before you can buy a home. If you choose a conventional mortage, a seller concession cannot be used to pay off a tax lien.
0 votes Thank Flag Link Thu Jun 26, 2008
the federal tax lien is mine. I owe 18k. I'd like to know (1) the possibility of using a seller's concession in this case, and (2) does the tax bill go away if the seller agrees to the concession or is this merely a paper transaction with no real impact on the tax lien but only enables financing of the mortgage.
0 votes Thank Flag Link Fri Jun 13, 2008
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