Pay-Off Tax Liens By Selling Your Long Island House For Cash
For most people owning a home is a dream come true. However, life can sometimes throw you unexpected challenges. One such challenge is the burden of tax liens. If you’re facing tax liens in New York, specifically on Long Island, there is a solution that can help you regain control of your financial situation. This blog post will explore paying off tax liens by selling your Long Island house for cash.
Tax Liens: What, How, and Why They Happen in NY
Tax liens occur when property owners fail to pay their property taxes. In New York, local governments can impose tax liens to collect unpaid property taxes. In February 2021, this amount was $1.3 billion.
These liens can become problematic for individuals as they accrue interest over time, leading to penalties and legal complications. If left unresolved, tax liens can result in the eventual foreclosure of your property. It’s important to promptly address tax liens to protect your financial well-being and home.
Pay It Off With Equity
There are various ways to resolve a tax lien. Some homeowners pay off the liens with their own cash, while others utilize the equity in their Long Island houses. Equity is the difference between the amount you owe on your mortgage and the market value of your home. When you sell your house for cash, you can unlock the equity and use it to pay off the tax liens.
This move can help you eliminate the burden of tax debt and regain control of your financial situation. However, it can also be a long, complicated process. Working with a reputable real estate agent or buyer is a must to ensure you get the best deal for your home and receive the payment quickly.
Benefits of a Cash Sale With Your Home
Selling your Long Island house offers several advantages when paying off tax liens, but you must also be aware of the risks and how to find the right buyer. It’s important to consider that many people have been leaving the city since the pandemic. Remote work has become the norm, and people are seeking bigger homes in suburban areas. However, this year’s median price of closed home sales is down 3% from January and 1.5% from February 2022.
On the other hand, the median home sale price in Long Island is around USD 600,000, with the median sale price per square foot at $390 USD. These numbers indicate a robust real estate market, which means competition can be fierce. When relying on real estate agents, finding a buyer and closing the deal can take months, meaning paying off your tax lien can take longer than you plan.
Fortunately, cash home buyers can help homeowners sell their homes quickly. Instead of relying on a real estate agent, selling your Long Island house directly to an investor for cash guarantees the following benefits:
Speed and Convenience: Traditional home sales can be time-consuming and involve numerous complexities. However, you can expedite the process when you sell your house for cash. Cash buyers like Handsome Homebuyer can provide a quick and hassle-free sale, allowing you to address your tax liens promptly.
No Repairs or Renovations: Selling your house as-is means you won’t have to invest time or money into repairs or renovations. Cash buyers are often willing to purchase homes in any condition, saving you the stress and expense of preparing your home for the market.
Avoiding Foreclosure: Selling your house for cash can help you avoid foreclosure due to tax liens. By selling quickly, you can settle your debts and prevent the loss of your home.
The challenge with selling your Long Island house for cash is falling for scams, which try to exploit desperate homeowners. It’s important to use a trusted home buyer with experience in cash sales, like Handsome Homebuyer.
Sell It To Us for Cash Quickly
Handsome Homebuyer is a reputable cash home-buying company helping homeowners facing Long Island tax liens. Our team understands the urgency of your situation and is committed to providing a fair cash offer for your property. By selling to Handsome Homebuyer, you can take control of your financial future and pay off your tax liens in a timely manner.
We buy homes as-is, so you don’t have to worry about making any repairs or renovations before you sell. Even if your home has fire damage or code violations, you can still receive a fair cash offer for your property. All you have to do is let us know you have a house for sale, and we’ll give you a cash offer based on the market value and condition. Should you say yes, you can pay off your tax liens in a matter of days instead of waiting months for a traditional sale.
Handsome Homebuyer helps homeowners struggling with bankruptcy, divorces, medical bills, and other financial hardships. We offer a stress-free solution to selling your house fast so you can get rid of debt and move forward.
Whenever you’re ready to pay off your tax liens and discover the actual value of your Long Island house, our team is prepared to help you. With our expertise and commitment to fair and transparent transactions, you can count on us to provide the absolute best value for your home. Request a free instant cash offer from Handsome Homebuyer today!
We are the leaders in buying houses, land and commercial property on Long Island. We have also assisted many property owners with selling their homes, land, and commercial properties all over Nassau county, Suffolk county and all 5 New York boroughs.