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    u have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to und
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    While the IRS will auction off just about anything to satisfy a tax bill, seized real estate gets people excited. Here are the basics of IRS real estate auctions you need to know.

    Understand IRS Real Estate Auctions

    Does the IRS really seize homes and then auction them off? Yes. The seizures occur from wayward taxpayers who never pay their taxes and seizures of crime-inspired purchases such as those from drug dealers and such. Before you run off to bid on these seized homes, however, you want to keep some things in mind.

    The first thing to keep in mind is the property is offered as-is. The IRS makes absolutely no guarantees regarding the soundness of the structure, the quality of title and so on. If you win, the IRS simply issues you a quit claim deed to the property and moves on.

    The second thing to remember is you have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to unde

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    Auctions

    Does the IRS really seize homes and then auction them off? Yes. The seizures occur from wayward taxpayers who never pay their taxes and seizures of crime-inspired purchases such as those from drug dealers and such. Before you run off to bid on these seized homes, however, you want to keep some things in mind.

    The first thing to keep in mind is the property is offered as-is. The IRS makes absolutely no guarantees regarding the soundness of the structure, the quality of title and so on. If you win, the IRS simply issues you a quit claim deed to the property and moves on.

    The second thing to remember is you have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to und

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    dealers and such. Before you run off to bid on these seized homes, however, you want to keep some things in mind.

    The first thing to keep in mind is the property is offered as-is. The IRS makes absolutely no guarantees regarding the soundness of the structure, the quality of title and so on. If you win, the IRS simply issues you a quit claim deed to the property and moves on.

    The second thing to remember is you have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to und

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    o guarantees regarding the soundness of the structure, the quality of title and so on. If you win, the IRS simply issues you a quit claim deed to the property and moves on.

    The second thing to remember is you have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to und

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    u have to pay cash for the property. Yes, cash. Okay, you can pay with certified checks, but no financing, personal checks or credit cards are allowed. None! Make sure to read the notice of auction closely to understand what is required of you.

    With real estate tax auctions, there is another issue you need to understand. Although you may win the auction, the delinquent taxpayer has the right to buy the property back from you for a period of 180 days. If the taxpayer exercised their option during this redemption period, they must repay you the amount you bid. They also must pay you interest on the bid amount at a rate equal to 20 percent annually. Put in simple terms, you may not actually get the property, but you will make money on your investment. In a majority of cases, the right to redeem is exercised by taxpayers.

    If you are considering bidding at IRS real estate auctions, you may want to sit down with a knowledgeable lawyer before hand. Although the IRS is a federal agency, state law controls many of the issues related to title an

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