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Ask Barrister Your Own Question
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 38166
Experience:  16 years real estate, Realtor. Landlord 26 years
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I am considering bidding on an office building with an irs

Customer Question

I am considering bidding on an office building with an irs lien. In a tax deed sale and looking to be certain what my responsibility will be
JA: OK. The Real Estate Lawyer will need to help you with this. Have you consulted a lawyer yet?
Customer: No
JA: Please tell me everything you can about this issue so the Real Estate Lawyer can help you best. Please give me a bit more information, so we can help you best.
Customer: There is a 400000 irs lien from 2008 and a 30 0000 tax lien that is going to auction tomorrow
JA: Is there anything else important you think the Real Estate Lawyer should know?
Customer: We are trying to find out if the irs was notified and when but font know yet the auction is tomorrow 9 am in florida
JA: OK. Got it. I'm sending you to a secure page on JustAnswer so you can place the $5 fully-refundable deposit now. While you're filling out that form, I'll tell the Real Estate Lawyer about your situation and then connect you two.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.
Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question..The tax deed sale wouldn't automatically extinguish the IRS lien but they only have 120 days to upset the sale by paying you whatever you paid for the property so they became the owner. But I have never seen them exercise that option in 15 years. So if they don't exercise that right, then the IRS lien expires as well..The tax sale would extinguish any other liens on the property though....thanksBarrister