Dennis Norman
The IRS acquires property as a result of seizing it or otherwise acquiring it for nonpayment of taxes and sells the acquired properties at auction. There are a few things to keep in mind when considering whether to bid on, or buy, property in this manner, including:
- The owner (the taxpayer) has the right of redemption (for 180 days after the sale in most cases) allowing them to buy the property back from you within that period for the price you paid as well as interest at 20 percent per annum. Granted, a 20% return on your money isn’t bad but it may be difficult to do much with the property during the redemption period.
- Property is sold subject to existing mortgages and liens senior to the IRS lien so you need to do your homework to be sure you are aware of what your total cost of the property will be.
- Property is sold as is without warranty
Before bidding on a property I would suggest you check out all of the terms and conditions of the sale as detailed on the IRS website. Below are the properties I found to be available, many have dates and times for auctions, which are noted, but several do not. Clicking on the description of the property will take you to the IRS website with more information on the property.
Properties Scheduled for Sale at Auction:
AZ – Phoenix
Great view of the Four Peaks, custom home lot approx 330,958 sq ft
Date of Auction: 11/4/2009, at: 3:00 PM
CA- Culver City
Date of Auction: 11/13/2009, at: 11:00 AM
CA-Dana Point
Exclusive Condo on the bluff overlooking Dana Point harbor and the Pacific
Date of Auction: 11/13/2009, at: 11:00 AM
CA- Encinitas
Date of Auction: 11/4/2009, at: 10:30 AM
CA – Oakland
Judicial Sale- Wonderful income-producing property includes store and apartments.
Date of Auction: 11/19/2009, at: 1:00 PM
CA- Oakland
Judicial Sale- Store on lower level with private single family home on second level.
Date of Auction: 11/19/2009, at: 1:00 PM
CA – Riverside
**UPDATE- MINIMUM BID LOWERED**Fixer Upper in Wood Crest area of Riverside, CA
Date of Auction: 10/29/2009, at: 10:30 AM
CA – Sacramento
Date of Auction: 11/2/2009, at: 11:00 AM
CO – Colorado Springs
Date of Auction: 10/28/2009, at: 12:00 PM
CO – Denver
Two Bedroom brick bungalow. Located near I-70 and the Denver Coliseum.
Date of Auction: 10/30/2009, at: 1:00 PM
FL – Daytona Beach
Judicial Sale – Beach Getaway – See amenities online at Daytona Inn Beach Resort
Date of Auction: 10/27/2009, at: 10:00 AM
FL – Lehigh Acres
Judicial Sale – Unimproved .50 acre lot located in Lehigh acres.
Date of Auction: 11/16/2009, at: 10:00 AM
FL – Milton
**UPDATE- ADDITIONAL PHOTOS ADDED**This is a great ´project house´ with a pool on 10-wooded acres.
Date of Auction: 10/27/2009, at: 1:00 PM
FL – Palm Coast
Newer home in quiet neighborhood
Date of Auction: 10/29/2009, at: 1:00 PM
FL- Polk City
You can get anywhere from here!
Date of Auction: 11/12/2009, at: 10:00 AM
FL- Polk City
Residential Real Estate – .30 acre lot – You can get anywhere from here!
Date of Auction: 11/12/2009, at: 10:00 AM
IL- Carlyle
8 Lots close to the lake and to businesses… with Highway access. Low Minimum Bid!
Date of Auction: 10/28/2009, at: 10:00 AM
IL – Mt. Vernon
Two BR, 1BA, 1008 sq. ft. home & several outbuildings with 123 acres…some tillable!
Date of Auction: 10/28/2009, at: 9:00 AM
IL- Saybrook
8 Acre Ag site with buildings – Perfect for Ag business or storage!
Date of Auction: 10/29/2009, at: 10:00 AM
KS – Lenexa
Date of Auction: 10/30/2009, at: 11:00 AM
MN – New York Mills
To Be Announced
MN- St. Paul
Redemption Sale – Beautiful Victorian style home on the National Registry of Historical Homes!
Date of Auction: 11/17/2009, at: 1:00 PM
OH – Forest
Date of Auction: 11/4/2009, at: 12:00 PM
OH – Vanlue
Quaint residence located in the Village of Vanlue
Date of Auction: 11/5/2009, at: 12:00 PM
OH – West Chester
74.33 acres of Prime Development Land near I-75 in growing West Chester, OH
Date of Auction: 11/3/2009, at: 12:00 PM
SC- Charleston
Date of Auction: 10/29/2009, at: 9:00 AM
TX – Houston
A charming 2,171 sq ft home. 4 bedrooms, 2 baths, 2 car attached garage at a great price!!
Date of Auction: 10/26/2009, at: 10:00 AM
TX – Kingsville
1.033 ACRE OF UNIMPROVED REAL ESTATE
Date of Auction: 10/27/2009, at: 10:00 AM
TX – Odessa
A real great property. Buy to live in, rent, or sell and carry the note. An investor´s dream!
Date of Auction: 11/19/2009, at: 11:30 AM
TX-Pearland
One Half interest in commercial real estate located in Pearland, TX- Outside of Houston, TX
Date of Auction: 12/7/2009, at: 10:00 AM
VA – Williamsburg
Kingsmill vacation home community along James River created by Busch Properties
Date of Auction: 11/5/2009, at: 12:00 PM
WA – Walla Walla
Date of Auction: 10/28/2009, at: 11:00 AM
WI – Wrightstown
.81 acre vacant residential lot
Date of Auction: 11/3/2009, at: 10:30 AM
Auction Dates to Be Determined:
CO-Colorado Springs
Property and 10,100 square foot building over 4 acres of land
NC – Oak Island
Beautiful 3 story beach house with ocean views
SC – Beaufort
**UPDATE – PICS HAVE BEEN ADDED**Yes, this CAN be your piece of Paradise on Daufuskie Island!
TX – Arlington
TX – Colleyville
Beautiful executive home in Dallas/Ft. Worth suburb
TX – Corpus Christi
TX- Friendswood
TX- Grandbury
TX – Houston
Beautiful townhouse west of downtown
TX – Plano
Nice brick home with pool and hot tub
TX – Plano
TX- Richmond
Beautiful brick home in Houston suburb
UT- South Jordan
VA – Fairfax County
VA – Falls Church
Holmes Run Crossing Subdivision, Lot 35, Falls Church, VA
VA – Radford
VA – Radford
2 bedroom 2 ½ bathroom townhouse with full basement
VA – Radford
Eight partially completed townhomes in mid-construction.
VA- Sterling
WA- Seattle
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