Quote:
Originally Posted by temple5
Alot more than that I think - 1 mil house value in Calgary.
Especially with a property like that.
One thing I was thinking, if he owed the bank $160K and the IRS had leins on the property, could the bank accept only $170K if the home was appraised at $350K - wouldnt the IRS have a problem with that.
Is it even legal to sell a property that has leins on it?
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You just have to satisfy the lien when you sell the property. It's like selling property that has a mortgage on it.