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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: IRS and their Right of Redemption process. Posted by Sean Wagle on April 01, 2002 at 11:55 PM In Reply to: IRS and their Right of Redemption process. posted by Ward-CA- on April 01, 2002 at 8:41 PM : IRS won’t redeem unless they have someone agree to be a “guaranteed bidder” by depositing with IRS a cash guarantee in the amount of 20% of IRS’s planned opening bid at their redemption sale. This is interesting to learn. It sounds like it isn't really the IRS you have to watch out for, but other foreclosure specialists. If your purchase was too "plum" then someone might take it away from you by joining with the IRS. Although, this strategy wouldn't win you any friends in the auction pit. It's kinda like betting with the house at a craps table... Follow Ups: Re: IRS and their Right of Redemption process. Ward-CA- 7:00 AM, 04/02/02 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : IRS won’t redeem unless they have someone agree to be a “guaranteed bidder” by depositing with IRS a cash guarantee in the amount of 20% of IRS’s planned opening bid at their redemption sale. : This is interesting to learn. It sounds like it isn't really the IRS you have to watch out for, but other foreclosure specialists. If your purchase was too "plum" then someone might take it away from you by joining with the IRS. : Although, this strategy wouldn't win you any friends in the auction pit. It's kinda like betting with the house at a craps table... 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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