If the IRS puts a levy on your home, can you sell it?
Answer:
sure you can sell it then the title company will send the money to the irs. that'll be fine with them.
yea but they get there money first...
Yes, but you have to disclose the IRS situation to any potential buyers.
The proceeds from the sale of the home will go first to pay off any mortgages and then to pay the IRS tax bill. If there are any funds remaining, they will go to the seller. If there are insufficient funds to pay the mortgages and the tax debt, the IRS will have to release the lien, otherwise the buyer of the property will not be able to obtain title insurance.
What is IRS..dear..am a nim com poof
While the levy is active, you couldn't just go ahead and sell it - it's basically frozen until your debt is paid or the IRS removes the levy. Talk to the IRS agent in charge of you case if you want to sell - might be able to work out some kind of agreement.
You can go ahead a sell your house. All mortgages have lien on them. It just another lien. I do not know who get the money first. That is between the irs and the bank and others. A realtor should be able to help you sell your house. I think you would have to sell the house for enough money to pay all the leins
As long as the proceeds of the sale cover what you owe the IRS, they would be glad if you did. The proceeds of a sale go to lien holders (IRS & mortgage holder) first. When they get their money, they relese the lien. All liens must be released before the buyer can get a clean title.
They will take care of that for you and you will lose big time.
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