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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Not very often... Posted by Rick, the Probate Guy on April 11, 2009 at 9:08 AM In Reply to: How often does the IRS redeem after auction? posted by Sara_CA on April 11, 2009 at 1:53 AM Sara - in 31 years of working foreclosures, I've never seen the IRS take any action to redeem a property from a lien. My own personal opinion is that the IRS does, in fact, have bigger fish to fry. Also, they are not "deal makers" as such and not about to put together a skillful plan to extract profit from a transaction that only an investor like yourself would be inclined to work. I have acquired properties with IRS liens, however. When these come up, I'm faced with the decision of actively mitigating the lien with the IRS to speed things up, or waiting out the 120 days, silently, if I acquired the property via T-sale. Since most of the time I've acquired without benefit of a foreclosure sale, I need to address the problem, and sooner is better than later. My best tactic is to show the IRS why they ought not want to ever deal with the property (lead based paint, asbestos, black mold, Navajo WHite mold, whatever works) then get them to release the lien, sometimes for nothing, sometimes for a little bit of nothing. CA FTB liens are a different thing. The agency is very unresponsive and when they do respond, they are uncooperative. Pick you "un" and that's their M.O. To my knowledge, FTB liens are like any other general lien and attach for 10 years unless renewed (or wiped off subsequent to a T-sale or removed by the agency). Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Sara - in 31 years of working foreclosures, I've never seen the IRS take any action to redeem a property from a lien. : My own personal opinion is that the IRS does, in fact, have bigger fish to fry. Also, they are not "deal makers" as such and not about to put together a skillful plan to extract profit from a transaction that only an investor like yourself would be inclined to work. : I have acquired properties with IRS liens, however. When these come up, I'm faced with the decision of actively mitigating the lien with the IRS to speed things up, or waiting out the 120 days, silently, if I acquired the property via T-sale. Since most of the time I've acquired without benefit of a foreclosure sale, I need to address the problem, and sooner is better than later. : My best tactic is to show the IRS why they ought not want to ever deal with the property (lead based paint, asbestos, black mold, Navajo WHite mold, whatever works) then get them to release the lien, sometimes for nothing, sometimes for a little bit of nothing. : CA FTB liens are a different thing. The agency is very unresponsive and when they do respond, they are uncooperative. Pick you "un" and that's their M.O. : To my knowledge, FTB liens are like any other general lien and attach for 10 years unless renewed (or wiped off subsequent to a T-sale or removed by the agency). [ 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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