Sell Your Chicago, IL Home Fast to Pay Back Taxes

Back taxes, especially unpaid property taxes, are like an unfixed leak in your roof. Things may seem insignificant at first, but eventually, the issue escalates to a level that’s damaging to your entire property. Unpaid back taxes can cause major financial issues on your end.

Selling a property the traditional way is one option to make some additional funds, but the transaction may take too long. Thankfully, JeffBuysYourHouse.com can make things easier by buying your property for cash. With our help, you can sell your house fast in Chicago and finally pay your back taxes. Keep reading to learn more.

Back Taxes Problems and Reasons Why They Occur

According to the latest data from the IRS, Americans owe over $120 billion in back taxes. These are the taxes people fail to pay on time, adding penalties and interest. Back taxes are common among property owners, with many failing or forgetting to pay their dues. As a result, they face liens, foreclosure, or loss of property rights. These financial burdens grow over time, making resolution increasingly difficult.

Why do back taxes occur in the first place? Here are a few reasons this problem starts.

• Financial Difficulties: Some people face unexpected expenses and financial issues that make it difficult to pay property taxes. These include medical problems, job loss, and even budget mismanagement.
• Ignorance About Owed Taxes: Property owners, especially first-timers, may not be aware of the need to pay property taxes. You may also be confused about how much you owe or when the payments are due, leading to unintentional non-payment.
• Property Assessment Disputes: Property owners disputing the value of their property might delay tax payments while awaiting resolution.
• Probate Issues: The probate process is lengthy, taking nine months to several years. Property tax payments may be delayed while ownership issues are resolved during this time.
• Overlooked Payments: Life gets in the way, and people sometimes get so busy with their own affairs that they simply forget to pay property taxes on time.
• False Belief in Tax Exemptions: There are cases when property owners mistakenly believe that they are exempted from paying taxes or qualify for tax relief programs, even though these do not apply to them.

Penalties and Issues If You Don’t Pay Your Back Taxes

There are various issues you may face if you don’t address your tax liability.

Penalties and Interest

When you fail to pay on time, you start owing interest on the amount you owe. There are also penalties for failing to pay in the first place.

Tax Liens

The government can place a tax lien on a property if you fail to pay your tax dues. A tax lien already makes property selling more difficult.

Risk of Foreclosure

If you neglect to pay your property taxes, the government can foreclose your property through the tax lien and sell the lien during an auction. The winner assumes ownership of the property after paying off the outstanding tax obligations, resulting in your loss of property rights.

Difficulty Selling Property

Having unresolved property taxes and liens may make traditional real estate sales more complex. These issues can also drive away many potential buyers, leading to delays. Your property could stay on the market longer than the average 58 days in the Chicago market.

Access the Trapped Equity in Your Illinois Property

Selling your property helps you access the trapped equity of your Illinois property. With these funds, you can pay off your back taxes and free yourself from the worry. A traditional real estate sale may not be the most suitable option, especially if time is of the essence. Instead, sell it to cash buyers like us at JeffBuysYourHouse.com. With our streamlined process, you can get cash for your home as quickly as a week.

We Buy Chicago Houses in Any Condition

Even if your property has tax liens or back taxes, we will still proceed with the sale. No matter the condition or attached legal issues of your property, we will make a competitive cash offer.

• Needs Repairs: We won’t ask you to make repairs on your property before we proceed with the transaction.
• Renovations Gone Wrong: Instead of spending more funds to fix a botched renovation project, sell the property to us and save money.
• Code Violations: Addressing code violations can easily result in big expenses. Thankfully, we will buy your home regardless of the violation.
• Trash Filled: Count on us to handle the cleanup so you can move on to a clutter-free property.
• Damaged Homes: There is no need to address water, fire, or termite damage. We will still proceed with the purchase regardless.
• Bad Rental Property Tenants: For landlords who no longer want to negotiate with unruly tenants, we can help you find peace of mind.
• Hoarder Homes: Our team won’t require you to remove the clutter before closing the sale.
• Fixer-Uppers: Even if your property is in a state of disarray, we will still proceed with the transaction.
• Dirty or in Bad Shape: We send out competitive cash offers no matter how bad the current condition of the home is.
• Death Estates: Let us help you relieve the burden of maintaining a property you didn’t want in the first place.
• Abandoned: Avoid penalties and property taxes for abandoned homes by selling them to us.
• Rundown Homes: Even ramshackle homes are included in the list of properties we buy.
• Foundation Cracks: Count on us to proceed with the transaction, even if the house has structural issues.
• Vacant Land and Houses: Make use of vacant property by selling it to us and accessing the equity.

Sell the Property to Us for Cash Quickly

No need to wait for long periods on the market, especially when you need the funds to pay back taxes. We follow an easy process so you can sell your Chicago house quickly and get the cash you need.

1. Send information about the property.
2. We evaluate your home and send a cash offer in as short as 24 hours.
3. If you accept the offer, you can close in as quickly as seven days.

Ready to learn about the current value of your home and see if a cash buyer is worth it?

[Get Your Offer Now]

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