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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 Bill H on April 08, 2009 at 6:10 PM In Reply to: 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 : 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 : Hi Kristine: The IRS never actually redeems. They do not have the taxpayer cash to do it. So, If there is enough equity they will put it on their site under "Seeking Guaranteed Bidders" and hope someone will bid for it. I visit the site from time to time and have yet to find anything with the required equity for me to get interested in. I agree with you and your attorneys...when does it happen? Good Luck, Bill H : : : : : : 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 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 : : : : Hi Kristine: : The IRS never actually redeems. They do not have the taxpayer cash to do it. So, If there is enough equity they will put it on their site under "Seeking Guaranteed Bidders" and hope someone will bid for it. I visit the site from time to time and have yet to find anything with the required equity for me to get interested in. I agree with you and your attorneys...when does it happen? : Good Luck, : Bill H : : : : : : : : 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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