tax auction

Foreclosures, Short Sales, Tax Foreclosures
1

Hi,
Has anyone here bought properties from IRS auctions? If so, could you kindly answer the following questions?

  1. are there particular title issues related this type of property that an investor should pay special attentions to?
  2. How competitive are the biddings
  3. Can you request a property inspection prior to the auction date?
    Thanks a lot!!
2
  1. are there particular title issues related this type of property that an investor should pay special attentions to?..Due Diligence MUST be done here as with any other real estate invewtment.

The IRS will tell you just like a foreclosure…they are only selling whtever right title and interest they are selling…ie., if they are in third position…there will be a 1st and 2nd ahead of them

…still against the property…CAVEAT EMPTOR…Investigate Before you Invest.

  1. How competitive are the biddings…Can be simple and easy or competetive…depends on the property, like any other real estate investment.

  2. Can you request a property inspection prior to the auction date?..A formal “hands on inspector”…not as far as I know…Normally the IRS will show on their listing a time and date that you may inspect or in some cases…just drive by…

Thanks a lot!!