Posted by BTI on May 18, 2006 at 10:53:07:
Annette
Beware, the ones I participated in only auctioned off the equity, the mortgages, property taxes, etc. stayed in place.
BTI
IRS Auction - Posted by Annette Jackson
Posted by Annette Jackson on May 17, 2006 at 23:54:18:
Can someone give me some insight in a offer like this?
I am a new investor with one property. I recieved this letter addressed to my business advising of an Auction Sale that is going to be held in my area. The properties are two funeral homes that have a lease for both properties providing payments totaling $40,000 annually. The lease is good through 8/2009. The terms of the sale require a 20% down payment and the Miminum bid is around $177,000. Have anyone participated in an IRS auction before? If so can you tell me someone to contact to get the money for this deal? Can you get a loan if you are retired?