« I'm Thinking Of... | Main | Thoughts »
Simmering
December 13, 2005
Home buying has not been so easy on me… Thursday afternoon I learned that there was, surprise!, an IRS lien on the home we are buying. Not only is it a lien on this property, but several others, all part of a group of business-owners who owe the Federal Gov’t a good amount of money. Therefore, instead of closing on Dec. 12, we now have an unknown closing date. The mortgage rate is locked in until Dec. 22, but then it’s unknown (it looks like it might go up after that).
The lien is completely not my responsibility, yet I am quite affected by this. The realtor would like to set up an escrow to pay the lien off, but the title company says it’s not allowed. Frustration abounds. A group lien may also mean a 30 days notice to each person, for some reason. I’m so in the dark about most of this; it’s annoying.
And this lien isn’t a surprise to the seller. There’s actually an agreement already worked out with the IRS to pay off the debts… supposedly. I’m beginning to lose trust in some of the people involved.
I remain upbeat though… it’s not easy, but what else can I do?
Posted by paul at December 13, 2005 05:12 PM
Comments