WON AUCTION PROPERTY WITH FEDERAL TAX LIEN!

[Dan Beaulieu]

Just won a great property on HUBZU at 65% less repairs. Sq footage, beds and baths were listed incorrectly on the tax records which weeded out 99% of the competition! (I live next door). Obviously haven't signed anything yet until I figure this out. 

There is a federal tax lien for 50K. Does anybody have experience in dealing with this? Any advice from EXPERIENCED investors is greatly appreciated!

[Jay Hinrichs]

check with title company but if this is a foreclosure and then a resale.. I think the irs has 120 days to redeem and they literally never redeem.. no one I know has ever seen them redeem.. I loved buying court house steps with IRS lien.. most folks too scared to bid or they did not have true cash IE they needed clear title ASAP so they oculd stick a hML on it. they did not have the funds to wait out the 120 days.. you can fill a form out and sometimes IRS will just waive their redemption period.. 

but do get a title commitment or prelim it will clearly say what the IRS rights are or are not.. Love IRS liens..