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/u/Single-Recipe357
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We entered a contract for a home in September. The sellers are two sisters who inherited the house through a living trust after their parent passed. During the title search it was found that the husband of one of the sisters has an outstanding IRS lien going back several years, amounting to approximately $330k. Agreement was reached for repayment through the split of the proceeds, which would conservatively be $300k for each of the two sellers. Now, a week before closing the sellers want to cancel, as one of the sisters would seemingly net nothing after paying the IRS, in fact the lien would not even be fully satisfied. We really want the house, as we searched for 6 months before finding this one. The reason for backing out is because the party doesn't want to pay the IRS. As buyers, we have met every requirement, and the sellers can't fault us in any way. We really want the house. Any tried and true advice?
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Seller backing out a week before closing
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submitted by /u/Single-Recipe357
[link] [comments]
Seller backing out a week before closing
Continue reading...