| While the IRS will auction off just about
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| | another issue you need to understand.
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| anything to satisfy a tax bill, seized
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| | Although you may win the auction, the
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| real estate gets people excited. Here are
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| | delinquent taxpayer has the right to buy
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| the basics of IRS real estate auctions
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| | the property back from you for a period
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| you need to know.Understand IRS Real
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| | of 180 days. If the taxpayer exercised
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| Estate AuctionsDoes the IRS really seize
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| | their option during this redemption
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| homes and then auction them off? Yes. The
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| | period, they must repay you the amount
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| seizures occur from wayward taxpayers who
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| | you bid. They also must pay you interest
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| never pay their taxes and seizures of
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| | on the bid amount at a rate equal to 20
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| crime-inspired purchases such as those
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| | percent annually. Put in simple terms,
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| from drug dealers and such. Before you
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| | you may not actually get the property,
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| run off to bid on these seized homes,
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| | but you will make money on your
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| however, you want to keep some things in
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| | investment. In a majority of cases, the
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| mind.The first thing to keep in mind is
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| | right to redeem is exercised by
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| the property is offered as-is. The IRS
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| | taxpayers.If you are considering bidding
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| makes absolutely no guarantees regarding
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| | at IRS real estate auctions, you may want
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| the soundness of the structure, the
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| | to sit down with a knowledgeable lawyer
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| quality of title and so on. If you win,
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| | before hand. Although the IRS is a
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| the IRS simply issues you a quit claim
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| | federal agency, state law controls many
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| deed to the property and moves on.The
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| | of the issues related to title and so on.
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| second thing to remember is you have to
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| | Every state has particular laws and none
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| pay cash for the property. Yes, cash.
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| | of them seem to be the same. If you are
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| Okay, you can pay with certified checks,
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| | not careful, you can end up in a mess
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| but no financing, personal checks or
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| | instead of a house. In this case, it is
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| credit cards are allowed. None! Make sure
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| | truly buyer beware!Richard A. Chapo is
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| to read the notice of auction closely to
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| | with Business Tax Recovery - providing
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| understand what is required of you.With
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| | information on taxes.
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| real estate tax auctions, there is
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|
