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rcrane Category: Need Advice
Current Grade: A-
Total Views: 520
Member Comments: 3
 Posted on: 04/26/2008
Posted by: rcrane
Blog Points: 19
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Can anyone give me advise on how to purchase a property that the IRS has a judgement on.THe property value thru zestimate is 209,335 and i have negotiated an offer of .43cents on the dollar... the owners are willing to just off load the property but i am not sure if the IRS is where i need to negotiate of how to go about the whole process...... by the way this is my first deal.... if any one can hel with where i start and how to go about making sure that the deal goes smoothly... let me know ASAP..... time is of the essence you may email me at money.usa@hotmail.com or by IM at the same address.

I thank all of you for your help and suggestions before hand.

Robbin

Current Grade: A-
Category: Need Advice
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Vieving 1 - 3 out of 3 comments
Jeff_Tumbarello
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Posted By: Jeff_Tumbarello on 04/27/2008

John

from recent deals, I can tell you, the IRS will play ball

 
JohnCorey
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Posted By: JohnCorey on 04/27/2008
You said nothing about the size of the IRS lien. While you are thinking you are in for 43 cents on the dollar, Jeff is correct about the comp from Zillow. At the same time the lien also needs to be addressed so that will add to the cost unless the seller is covering it from their share. As Jeff mentioned the IRS might settle. Or the lien might be small enough that you can just factor it into the deal and it will be paid when title transfers.

Tell us more about the deal structure and the IRS lien.

 
Jeff_Tumbarello
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Posted By: Jeff_Tumbarello on 04/27/2008

you can work with the IRS, they will play ball, having the owner aboe to speak with them will help you

You can always foreclose them off title...

once served properly, they have 120 days after the sale to redeem their interest they dont most of the time

using zillow to comp your dels is a really bad idea

itsd wrong most of the time, you will lose money

when somebody brings me a deal and quoted zillow, the word "newbie" screams out in my head

try www.realquest.com 90 dollars a month for the best comps