All Forum Posts by: Account Closed

From market watch..

https://www.marketwatch.com/st...

You are "really  upset" because the plantif is trying to save his house??? What's wrong with you people? Find another opportunity and be happy the previous owner is trying to salvage the property.

Try Carolina Realty Solutions Clay Eaton Broker-in-Charge, Triangle Market

$350 for listing only on Triangle MLS. 

According to the IRM, answer is Yes. See below bullet 3. 

https://www.irs.gov/irm/part5

5.12.5.2.7 (06-07-2016)

Amount Necessary to Redeem Property

1. In any case in which the United States redeems real property under 28 USC 2410 or IRC 7425, the amount to be paid for the redemption is the sum of allthe following:
   • The actual amount paid by the purchaser at such sale
   • Interest on the amount paid by the purchaser calculated at 6 percent per annum from the date of such sale until the anticipated redemption date
   • If applicable, the amount of a payment made by the purchaser (or successor in interest) after the foreclosure sale to a holder of a lien senior to that foreclosed
   • If applicable, the amount equal to the expenses necessarily incurred in connection with such property after the sale but before redemption MINUS the income from such property and MINUS a reasonable rental value of such property (to the extent such property was used or allowed to be used by the purchaser)

@Colin Perry 

"Someone else came in and bought this directly from the owner" 

Did someone buy during the upset bid period? I do not believe once it is in the FC process (upset bid period), you can directly deal with the owner. 

"IRS gets at least 25 days note of the sale. If IRS doesn't get proper notice the lien is undisturbed and remains a lien on the property"

Here is an example of what may happen, if the proper notice is NOT given

https://canons.sog.unc.edu/a-foreclosure-fiasco/

My experience is  the foreclosing trustee's office will not let you know if a proper notice is given or not unless you contact them through an attorney.

https://www.irs.gov/irm/part5

5.12.5.2.7 (06-07-2016)

1. In any case in which the United States redeems real property under 28 USC 2410 or IRC 7425, the amount to be paid for the redemption is the sum of allthe following:
   • The actual amount paid by the purchaser at such sale

     Note:

     In the case of a purchaser who was the holder of the lien that was foreclosed, the amount paid includes the amount of the obligation secured by such lien to the extent it was satisfied by reason of such sale.

   • Interest on the amount paid by the purchaser calculated at 6 percent per annum from the date of such sale until the anticipated redemption date
   • If applicable, the amount of a payment made by the purchaser (or successor in interest) after the foreclosure sale to a holder of a lien senior to that foreclosed
   • If applicable, the amount equal to the expenses necessarily incurred in connection with such property after the sale but before redemption MINUS the income from such property and MINUS a reasonable rental value of such property (to the extent such property was used or allowed to be used by the purchaser)

150 days??? Used to be 120 days. Was this a recent change?

Here is a primer on Federal Income Tax Liens on Foreclosure properties in NC. Most likely the frame work for handling Federal Tax liens in other states may be similar ..

https://www.lexology.com/library/detail.aspx?g=14729906-8dc0-49ac-ade6-795cfd735721

For sheriff foreclosures, try epreforeclosure dot com.