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Updated about 8 years ago on . Most recent reply

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Santi Buffa
  • Cumming, GA
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Chase Bank Judgement and IRS Liens

Santi Buffa
  • Cumming, GA
Posted

New to foreclosure purchasing at court house steps...

I'm looking to possibly bid on 3 properties at the court house steps in Forsyth County Ga.  I completed a title search through ProTitleUsa (not sure if they're the best choice...).  I found a judgment on one of the properties from Chase Bank, and IRS Liens on another.  My question is if I purchase at court house steps am I responsible to pay them once I become the owner of the property?  Thank you in advance for any and all info!

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Richard Balsam
  • Investor
  • Alpharetta, GA
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Richard Balsam
  • Investor
  • Alpharetta, GA
Replied

Everything I know from all my years buying on the steps...The only liens to survive the foreclosure process (A Deed Under Power) is: IRS liens, GA state liens, and F.I.F.A. liens. The IRS liens drop off after 90 days. But...the attorney crying the sale must notify them that you purchased the home. They want the big fish- not small liens. If they want their money - they will refund you the cost of the home so they can have it- so they can sell the asset to pay the lien. But..this is extremely rare - and I never heard of this on a standard home bought by a small investor. I had two IRS liens int the past. Nothing happened, which is what I expected. I had two GA liens too- they fell off - since I never paid them anything - the homes were sold - and I never even received a letter in the mail from the state. As for Chase - can't imagine what type of lien this is. Unless a F.I.F.A. lien- I wouldn't think it's anything to worry about. You can always call an attorney to find out.

  • Richard Balsam
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