All Forum Posts by: John C

Current owner got the property by paying the property taxes and sending notice and basically foreclosing on the property. He hasn't done anything with it, also he has not updated or made an abstract. He wants to sell it for a very attractive price, as is without title work. I'm just trying to decide how to handle it. If I buy it with a corporation and never sell it would I have an issue? Obviously the best answer would be to make an abstract and do a title opinion. Also the previous owner has a lot of items still in the property and basically is squatting there.

Now that he is the new owner can the IRS come after him for the lien? Just trying to learn as much as I can about this as this process is new to me. 

Apologies if my terminology is not correct on the steps of the process. 

I was told can serve the IRS notice and they have 120 days to decide or lien goes away.

Please advise

When a property is acquired by tax sale, does that remove all leins?

Seller has  deed to the property and wants to sell as is/ where is. Iowa is abstract state and seller wants me to handle that cost.   I have heard around town there may be an IRS lein attached to the property. The seller said the act of tax sale/foreclosure wipes away all leins. Is this true or does a specific act need to take place?

Just wondering if I need to figure abstracting and title opinion into this?? Not a major expense really, also I just want to know for my own info.

Any other suggestions appreciated!!!

Some banks have just gotten to big for their own good. US Bank being one of them. They remain unable to be efficent with the bailouts propping them up. Local Credit Unions Baby

Historically, yes land prices fall, but are we getting close to the top? 7bill and rising population, 60% of Iowa Corn becomes fuel. Demand for crops is outpacing supply already. 20 years from now corn might be $25 a bushel.

the futures so bright we will have to wear shades

Man I would Raise unit 1 rent to cover the hassle

Well..... what did you find?????

How about just waiting 3 months to sell it? Its not that long.

Get a plat map and see who owns it then google them or call assessor for info where taxes go.. then call them up or mail something

I looked at a huge 20 bedroom 6 bathroom single family home yesterday that until a few years ago housed VA patients/ tenants. Would it be possible to return it to a VA home therefore collecting rents of the government??

New to this type of thing, any feedback would be awesome!!