IRS Lien Clarification - Courthouse Steps Purchase

[Jay Patel]

Hey all,

I am interested in an upcoming auction at the courthouse steps. There is an IRS Lien filed against the owner. I wanted to make sure I understand what that means and was hoping you can help:

IRS Liens recorded on 6/8/11 & 6/24/15 (the one recorded on 6/8/11 is for back taxes all the way back to the tax period ending 12/31/2007) Total Lien of about 130K.

The foreclosure is for a mortgage originated on 4/11/2008, it was re-assigned on 5/2016 and modified on 6/2017.

Some other information:

• The IRS is not mentioned anywhere in the mortgage complaint or was not named in the suit by the bank's attorneys.
• I am based in Florida.
• The home is probably worth 200K (ARV)
• The foreclosure judgment is at 126K (so there is some meat on the bone)
• HOA lien ($1500)
• IRS Lien (130K)

Based on this info, would you agree that the IRS Lien is junior to the mortgage? That it would be wiped at the sale and at that point I would have to deal with the 120 day redemption period? I am okay with waiting on making any improvements during this period if I can get it at a good price. I would get my money back if the IRS did decide to go through with the redemption including any court doc fees etc correct?

Thanks so much for your thoughts!