Comments on: government auction on real property-has anyone ever bid on the houses that the US govt puts up for auction? http://www.state-auctions.info/government-auction-on-real-property-has-anyone-ever-bid-on-the-houses-that-the-us-govt-puts-up-for-auction-4/ Wed, 04 Aug 2010 06:13:30 +0000 http://wordpress.org/?v=2.9 hourly 1 By: wartzhttp://www.state-auctions.info/government-auction-on-real-property-has-anyone-ever-bid-on-the-houses-that-the-us-govt-puts-up-for-auction-4/comment-page-1/#comment-540 wartz Tue, 23 Dec 2008 16:51:56 +0000 http://www.state-auctions.info/government-auction-on-real-property-has-anyone-ever-bid-on-the-houses-that-the-us-govt-puts-up-for-auction-4/#comment-540 If it is a sale to satisfy a tax lien, the official sale notice will include a list of encumbrances on the property. There will be a minimum bid. The property can be sold by sealed bids or auction at the discretion of the person conducting the sale. The taxpayer will be allowed to redeem (buy back) the property for 180 days by paying the buyer the amount paid plus interest at 20% per year.IRS also sells property that it redeems from forclosure or is being sold because of a court order. The rules are somewhat different for those sales. If it is a sale to satisfy a tax lien, the official sale notice will include a list of encumbrances on the property. There will be a minimum bid. The property can be sold by sealed bids or auction at the discretion of the person conducting the sale. The taxpayer will be allowed to redeem (buy back) the property for 180 days by paying the buyer the amount paid plus interest at 20% per year.

IRS also sells property that it redeems from forclosure or is being sold because of a court order. The rules are somewhat different for those sales.

]]>