Federal tax liens on Foreclosure property

[Jonathan Faltot]

We bought a property on foreclosure sale, it has federal tax liens attached. I have heard both ways it can follow the person or the property. I'm also negotiating cash for keys, but I may opt out of doing so if I have to wait for this 180 day redemption period for the IRS to claim the property if they do. 

what has anyone's experience been with this ? The leins are significant, but it is still a great opportunity. 

[Chris Seveney]

Quote from @Jonathan Faltot:

We bought a property on foreclosure sale, it has federal tax liens attached. I have heard both ways it can follow the person or the property. I'm also negotiating cash for keys, but I may opt out of doing so if I have to wait for this 180 day redemption period for the IRS to claim the property if they do. 

what has anyone's experience been with this ? The leins are significant, but it is still a great opportunity. 

 knock on wood but never had them redeem, we filled out some form I recall that was a lot of paperwork to notify them and start the clock. I would talk to an attorney or title company as I think you have to file a document to get the clock started on the 180 or 120 days or whatever it is.