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Updated almost 2 years ago on . Most recent reply
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Likelihood of IRS exercising its right of redemption...
Vague and hypothetical, but does anyone have a general rule of thumb as to if/when the IRS will exercise its right of redemption on a foreclosed property?
Case in point: Property purchased at mortgage foreclosure auction. Former owner owes over 100K in taxes, property has a tax lien. IRS has 120 days to redeem, pay off winning bidder, and then sell to recoup. Question is... when will they? Obviously the amount of the lien plays a role (bigger the lien more likely they will, I would assume).
That small print will get ya!