Federal Liens!!!

[simbaman]

NEW YORK CITY- BROOKLYN....
I am attempting to acquire a condo in Brooklyn.
The former owner or still owner left the condo 5 years ago and
never came back.......... of course nothing has been paid on it since and in doing a title search it comes up with 4 Federal tax liens on the property... And the Liens are WHOPPING!!!! A total of about 15 million dollars...... The condo board hold position on the condo and I have worked out a deal to buy their position but is there anyway to get these liens cancelled..... I understand that the former owner is on the run from the law.... so he is definitely not comming back. The condo itself is worth about 70 grand tops.... Someone did tell me that condo interest supercedes any tax liens in NY..... true??

 

[HomeGuru]

NEW YORK CITY- BROOKLYN....
I am attempting to acquire a condo in Brooklyn.
The former owner or still owner left the condo 5 years ago and
never came back.......... of course nothing has been paid on it since and in doing a title search it comes up with 4 Federal tax liens on the property... And the Liens are WHOPPING!!!! A total of about 15 million dollars...... The condo board hold position on the condo and I have worked out a deal to buy their position but is there anyway to get these liens cancelled..... I understand that the former owner is on the run from the law.... so he is definitely not comming back. The condo itself is worth about 70 grand tops.... Someone did tell me that condo interest supercedes any tax liens in NY..... true??

**A: I suggest you walk, no, run. Drop this like a hot potato unless the property is foreclosed upon and you can get title free and clear of the tax liens.