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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Always offer and counter-offer a creditor's lien.. Posted by Ward-CA- on June 02, 2003 at 10:18 PM In Reply to: EDD Payroll Withholding Lien posted by JamieM-CA on June 02, 2003 at 8:53 PM : Ward: : I'm trying to finalize an EPA, but title shows a lien in favor of CalEDD for back payroll taxes owed by my seller. My seller says that the amount is about $110K (including penalties and interest), and of course I'll confirm the number before closing. Three questions: : Any observations about offers in compromise for EDD liens (my seller made an offer that EDD rejected, then EDD counteroffered, but my seller didn't have the money available for payment at that time (last February))? : Do you know if its possible to "reopen" the EDD's counteroffer and negotiate it quickly (ie, "over the counter")? : And, if we sign the EPA with a set dollar number for the seller's interest based on an assumption about the EDD lien, then adjust that amount after the EDD lien is finalized, do you think the statue requires that the seller receive a 2nd 5-day cancellation period after the dollar number change? : As always, thanks for sharing your experience. : Jamie =•=•=•=•=•=•=•=•=•=•=•= Jamie, No, I don’t know for a fact that it’s possible to reopen the EDD’s counteroffer, but I’d try if I were in your seller’s shoes. And no, I don’t think you need to go through another 2nd five day cancellation period just to accommodate a later change in the seller’ net equity figure. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward: : : I'm trying to finalize an EPA, but title shows a lien in favor of CalEDD for back payroll taxes owed by my seller. My seller says that the amount is about $110K (including penalties and interest), and of course I'll confirm the number before closing. Three questions: : : Any observations about offers in compromise for EDD liens (my seller made an offer that EDD rejected, then EDD counteroffered, but my seller didn't have the money available for payment at that time (last February))? : : Do you know if its possible to "reopen" the EDD's counteroffer and negotiate it quickly (ie, "over the counter")? : : And, if we sign the EPA with a set dollar number for the seller's interest based on an assumption about the EDD lien, then adjust that amount after the EDD lien is finalized, do you think the statue requires that the seller receive a 2nd 5-day cancellation period after the dollar number change? : : As always, thanks for sharing your experience. : : Jamie : =•=•=•=•=•=•=•=•=•=•=•= : Jamie, : No, I don’t know for a fact that it’s possible to reopen the EDD’s counteroffer, but I’d try if I were in your seller’s shoes. And no, I don’t think you need to go through another 2nd five day cancellation period just to accommodate a later change in the seller’ net equity figure. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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