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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Need strategy advice, IRS ROR Posted by Jeff on January 08, 2002 at 6:32 PM I recently purchased a home at foreclosure sale that has a $66k IRS lien on it. The house has mold problems that will take $10k to remediate, I'd like to put another $10k into it for remodeling and upgrading. The bid price was $94k, market value will be $140-150k. The numbers are a little skinny but I wanted the house for a personal residence rather than a quick investment. I'd like to get started on the remediation and remodeling as soon as possible, however I don't want to invest any more money in the property until the IRS is out of the way. My question is, should I risk going to the IRS and requesting an offer-in-compromise and putting them on the alert? Or would it be safer to wait them out the 120 days for their ROR to expire and go from there? Any suggestions?? Thanks! Follow Ups: Re: Need strategy advice, IRS ROR Jim 5:24 PM, 01/10/02 (1) Re: Need strategy advice, IRS ROR Ward-CA- 6:03 PM, 01/10/02 (0) Re: Need strategy advice, IRS ROR Nick(Colorado) 10:54 AM, 01/09/02 (0) Re: Dealing with IRS' Right of Redemption Ward-CA- 6:55 AM, 01/09/02 (0) Re: Need strategy advice, IRS ROR JD 7:47 PM, 01/08/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I recently purchased a home at foreclosure sale that has a $66k IRS lien on it. The house has mold problems that will take $10k to remediate, I'd like to put another $10k into it for remodeling and upgrading. : The bid price was $94k, market value will be $140-150k. The numbers are a little skinny but I wanted the house for a personal residence rather than a quick investment. : I'd like to get started on the remediation and remodeling as soon as possible, however I don't want to invest any more money in the property until the IRS is out of the way. : My question is, should I risk going to the IRS and requesting an offer-in-compromise and putting them on the alert? Or would it be safer to wait them out the 120 days for their ROR to expire and go from there? : Any suggestions?? Thanks! 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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