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I've never understood why tax liens should concern a buyer--they get paid at closing out of the purchase price, right?
Is there any even equity in the property? It sounds like you sunk all of your nest egg into a remote large home with no comp's and no one has looked at in almost 2 years on the market?
This doesn't sound like a situation where there is going to be any equity. So you will have to come up with the cash to pay the liens @ closing.
How much is owed on the property? Is the mortgage current or in arrears?
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I've never understood why tax liens should concern a buyer--they get paid at closing out of the purchase price, right?
As a buyer, I would be very worried about the condition of the house if it has existing or past tax liens. Having a tax lien indicates (IMHO) a certain lack of responsibility of the owners.
And yes, they do get paid off at closing IF there is any equity. If not, you're gonna have to come to the table with cash. As a buyer, I'd be concerned about that scenario and would be VERY hesitant to even make an offer until the owner cleared those liens.
You've really landed yourself in a seriously sad situation, and I hope you're able to find a satisfactory resolution.
No mortgage on the house; paid cash (I know, huge mistake--or I'd walk away from it). If I had the money to pay off the liens I would do that, of course, but the moolah is gone, gone, gone thanks to medical expenses. Will keep lowering the price but still want to find a realtor.
What is in the area? If there is game bird hunting, advertise in hunting dog magazines. Ditto for other types of hunting. Is it a farming area? Is there rock hounding? If there are cattle ranches, try for stock horse people.
There has to be something attractive about he area. Figure out what it is and target some ads towards the specific type of people who fancy that activity or hobby. Every hobby has specialty magazines and those all have classified ads.
No mortgage on the house; paid cash (I know, huge mistake--or I'd walk away from it). If I had the money to pay off the liens I would do that, of course, but the moolah is gone, gone, gone thanks to medical expenses. Will keep lowering the price but still want to find a realtor.
Take out an equity line and pay off the tax liens. The interest and penalties will just keep growing.
I'm going to bet that the OP has destroyed their credit so badly (unpaid medical bills) and has no income. They are unlikely to get that equity line, but it's certainly possible, and a VERY good idea.
Yes, tax liens are usually publicly listed, often on online county assessor websites. Those liens, in some areas, are actually purchased by investors - Vulture Investing. (By no means do I support or encourage this "investment.")
OregonWoodSmoke has some good ideas - but try to find the realtor first. You'll end up paying for the ads, I would suspect, but maybe you can cut a deal with them to repay you if the house sells from one of those ads. And let them handle the phone calls. This whole thing is far to emotionally charged for a FSBO.
I read through the thread but add me as one more "It's price". You fix location by lowering the price. You lower it until someone buys it or you can't afford to lower it anymore. Is renting it out an option?
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Good suggestion about renting out but in my situation, no, it will not work. Need the money, pay debt, and get the h--- out of the Land of Entrapment!
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