Property taxes can be overwhelming. We can help you sell your property with tax liens in Colorado Springs so you can move on with your life! Learn more about how to do it in our latest post!
Do you owe back taxes on your home? Are you staying awake nights wondering how you are ever going to be able to pay them back? You can lose your home if the problem is not taken care of.
Pay Them Off
Obviously, the best solution is to pay them off. But you couldn’t afford to pay them in the first place, so how is that going to happen? You can maybe create a savings and repayment plan. Another alternative may be to work with your local property appraiser to try to get them lowered, but many times this can only occur within a specific timeframe.
It might be worth your time to sit down with a financial planner or someone who can help you take a good hard look at your finances. A fresh perspective on your spending might be exactly what you need to pay off your debts. Work out a plan to save a set amount each month and use that to pay down the balance of your property taxes. The county is unlikely to issue a tax lien if you are making regular payments to your outstanding balance. But be aware that you will not only need to pay back the back taxes, but also the fees, penalties and interest that have accrued.
It is possible to work with the property appraiser to have your property taxes lowered if you believe they have been assessed incorrectly. You won’t be able to negotiate the rate of which you are taxed, however, you can negotiate the assessed value of your home. This is generally best done at the time the assessment of taxes is made, and there usually is a time frame during which you can object to the assessment. Check to make sure they have the specs of your house notated correctly. Don’t let them say you have 3 bathrooms when you really only have 2.5. The assessor will look at other homes in your area and what they are selling for. Sometimes you need to dive deeper into the numbers. If you are going to challenge the value the assessor has placed on your home, make sure you have comparable houses to compare it to, and write a very precise objection as to why you feel your home has been appraised incorrectly, with examples.
Find Someone To Help
While it might not make sense to replace one debt with another, getting a tax loan from a private lender can provide temporary assistance should you be on the verge of having your tax lien auctioned. Before you agree to the loan, make sure you read the fine print and understand the repayment terms. The interest can be high and there can be severe penalties for nonpayment. Before you find yourself in this situation, explore all of the other options available to you.
There are buyers and investors out there who are ready to help you right now! Swift Results, Inc. is a professional homebuyer who will help you with tax liens or anything else that is keeping you from selling the property the traditional way. You don’t have to sink more money into the house or toward your tax bill. We will handle everything so you can sell the house and walk away from your property tax problems once and for all. Keep in mind, not all buyers are the same. When you work with Swift Results, Inc., you can rest assured you will receive a fair price and honest treatment every step of the way. Selling your house to a direct buyer is one of the best ways to stop the frustrations that arise from tax liens!