What happens after the 180 day redemption period? What kind of deed and when will I receive it?
The Internal Revenue Code Section 6338(b) provides that whenever real property is not redeemed within the 180 day period, the purchaser, or his/her assign, will be issued a deed (usually a Quit-Claim Deed) upon surrender of the Certificate of Sale. The deed will be in accordance with the laws of the state in which the real property is situated pertaining to sales of real property under execution. Can I negotiate to buy seized property from the Internal Revenue Service before the auction? No. The Internal Revenue Code section 6335 requires that the sale be conducted either by public auction or by public sale under sealed bids. The law does not allow the Internal Revenue Service to bypass the auction or sealed bid processes.
