1The Challenge
Robert had accumulated $45,000 in unpaid property taxes over 6 years after his wife's medical bills depleted their savings. The city had placed liens on the property and was preparing to seize it through a tax taking. Traditional buyers wouldn't touch a property with that level of encumbrance.
2Our Solution
We purchased the property with the understanding that all liens would be paid from the sale proceeds at closing. Our title team worked with the city's tax office to calculate exact payoffs and coordinate the lien releases.
3The Outcome
Robert sold his property, had all $45,000 in tax liens paid off at closing, and walked away with cash in his pocket - free of the debt that had haunted him for years.
Timeline
The Full Story
Robert and his wife had owned their Springfield multi-family home for 25 years. It was their retirement plan - live in one unit, rent the others, and age in place.
Then his wife was diagnosed with cancer. Even with insurance, the out-of-pocket costs were staggering. Robert depleted their savings, then their retirement accounts, then started falling behind on property taxes.
"I kept thinking I'd catch up next year," Robert says. "But the bills kept coming, and the interest on the taxes kept growing. Before I knew it, I owed $45,000 and the city was threatening to take my house."
Robert tried to sell traditionally, but every buyer's offer fell through once they discovered the liens. No bank would finance a purchase with that level of encumbrance, and few buyers had the cash to take on the risk.
"I talked to three different real estate agents. They all said the same thing: no one's going to buy this house until you pay off those liens. But I couldn't pay off the liens without selling the house. I was stuck."
Prime Property Venture operates differently. We buy properties with liens all the time - we understand how to work with municipalities, negotiate payoffs, and structure closings that satisfy all parties.
"When I called them, I expected them to lowball me because of the liens. Instead, they made me a fair offer and explained exactly how they'd handle the tax situation. No other buyer had even been willing to try."
Our team worked directly with Springfield's tax collector's office to get exact payoff figures, including all accumulated interest and penalties. We coordinated with the title company to ensure the liens were paid simultaneously with the property transfer.
At closing, Robert watched as $45,000 went directly to the city to clear his liens. The remaining proceeds went to him - enough to relocate to a smaller apartment and have money left over.
"I never thought I'd feel this kind of relief. Six years of debt, six years of stress, six years of opening the mailbox and dreading what I'd find - all gone. Prime Property Venture didn't just buy my house. They bought me peace of mind."
“I thought I'd lost everything. Between my wife's medical bills and falling behind on taxes, I couldn't see a way out. Prime Property Venture paid off every penny of my tax debt at closing, and I still walked away with money. They gave me my life back.”