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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Is there a scenario that would make it ok to buy at auction via trustee sale? Posted by Kristine-CA on April 08, 2009 at 6:04 PM In Reply to: Re: Is there a scenario that would make it ok to buy at auction via trustee sale? posted by Bill H on April 08, 2009 at 3:45 PM Hi Bill. My RE attorneys, both here in town and in my farm both say they have never seen a case where the IRS "redeemed" on an SFH, unless there was massive equity. I've always wondered when and how it happens. Kristine : : : : Is there a scenario/ situation that would make it ok to buy at the auction via trustee sale? : : Grace : Grace: : Several factors come into play. What is the equity here? How much is the tax lien? : Would it be financially feasible and profitable to purchase it and just pay the lien? : Why not purchase it and either sit tight and wait out the 120 IRS right of redemption or negotiate a release for the property. : If it were me, have done it before, I would buy at the sale and sit tight and wait our the IRS. : I, like others that I know, believe in letting sleeping dogs lie. : Unless there is an awful lot of equity they normally will not bother with it. Simply not cost effective for them and they have bigger fish to fry. : Good Luck, : Bill H Follow Ups: Re: Is there a scenario that would make it ok to buy at auction via trustee sale? Bill H 6:10 PM, 04/08/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Hi Bill. My RE attorneys, both here in town and in my farm both say they have never seen a case where the IRS "redeemed" on an SFH, unless there was massive equity. I've always wondered when and how it happens. Kristine : : : : : : : Is there a scenario/ situation that would make it ok to buy at the auction via trustee sale? : : : Grace : : Grace: : : Several factors come into play. What is the equity here? How much is the tax lien? : : Would it be financially feasible and profitable to purchase it and just pay the lien? : : Why not purchase it and either sit tight and wait out the 120 IRS right of redemption or negotiate a release for the property. : : If it were me, have done it before, I would buy at the sale and sit tight and wait our the IRS. : : I, like others that I know, believe in letting sleeping dogs lie. : : Unless there is an awful lot of equity they normally will not bother with it. Simply not cost effective for them and they have bigger fish to fry. : : Good Luck, : : Bill H [ 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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