IRS Government Auction
The two things each person always has to do are to pay taxes and die. People try, year-after-year, to evade taxes. Or they owe a sizeable amount and they don't have the money to pay. If you have a tax bill sitting there, it will only be a given amount of time before the government does something to recover its money. Not paying your income tax can lead to the Internal Revenue Service seizing your property. Like other federal agencies, the IRS seizes the property of delinquent taxpayers in cases of tax evasion and non-payment of taxes. The IRS seizes property by putting a tax lien on it and then selling it auction to cover the cost of the tax bill just as the government will confiscate property of criminals when it has been obtained from income earned in the commission of crime and sell the items at auction.
The IRS Auction website is listed under the U.S. Treasury, which also has its own auctions listed. The IRS site lists the category of the auction, like aircraft; automobiles, motorcycles, trucks, boats; real estate; household goods - personal property, etc. and the city or state where the property is. Anyone may bid on the property at a public auction or by sending in a sealed bid. The sealed bids are opened after the voice bidding ends. The property goes to the highest recorded bid, whether it's voice or written. The buyer must pay cash for the property, whatever it is. They do this by having a cashier's check made out to themselves in the amount they plan on bidding. They can make up the difference in cash or in the form of other cashier's checks also made out to themselves. There is no way to finance the sale. So if you are bidding on a house, you have to have the money in cash, whether it is six or seven figures. Then the IRS gives you, the auction winner, a Quit-Claim-Deed.
You are responsible for any other liens against the property. When the property is real estate, the original delinquent taxpayer owner, heirs, anyone having and interest or lien against the property has the right to buy the property back within 180 days. They must pay you bid amount plus 20% interest. So this may not be the deal you think it is. Definitely check with a lawyer before bidding.
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