Home News Sherwood house on 20 acres sells for $482,820, $2 over the lowest possible bid in IRS auction

Sherwood house on 20 acres sells for $482,820, $2 over the lowest possible bid in IRS auction

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a Two-Story Home on 20 Acres in Sherwoodwas seized by the IRS and sold at auction on Monday, August 1, for $482,820.

7,897 sq ft home built in 1987 27342 SW Rudd Hill Roadhas 4 bedrooms and 3 bathrooms.

“The house was in good shape and there was a lot of interest, but people were pulling out,” IRS representative Brittany Dipla said.

The name of the purchaser has not been made public.

Dipura said the previous owner has the right to retake the property within six months at the sale price and interest.

National Tax Agency Auction Include assets — from real estate To liquor license — Sold by the government for unpaid taxes.

Dipla said he received a call the morning of the auction. Responses to Oregonian/OregonLive storiesbut if the deadline for mail-in bids has passed, registration deadline It was noon and the in-person auction was taking place at the IRS office at . 225 West Broadway, Glendale, California.

There were other restrictions as well.

The property was sold “as is” with no condition guarantee or repair allowance.

Potential buyers could only view the property while driving. Photos of the house and land were posted on the IRS auction website.

Winning bidders will be required to pay 20% of the sale price at the auction and the balance due on Friday 5th August. according to auction rules.

No financing. Payment must be made by authorized cashier or treasurer’s check or by money order paid to the U.S. Treasury Department.

The sale releases the IRS federal tax liens, but any other liens set forth in the liability notice remain the responsibility of the purchaser.

The minimum bid required was $482,818.35.

For more information on upcoming IRS auctions, please visit: irsauctions.gov.

Buying a home at auction is different from a regular real estate transaction. Agents do not write offers. Properties may include furniture and movable structures.

Bidders must exercise their own research and due diligence before bidding. Some “as is” properties are sold for cash, but some properties are not IRS properties and can be financed before the deed changes ownership.

Each auction has its own Rules, Terms of Use However, most require pre-registration and a deposit.

Some auction houses require the winning bidder to pay closing costs instead of the IRS, such as an escrow fee, return tax, brokerage fee, or buyer’s premium as a percentage of the hammer price.

— Janet Eastman | 503-294-4072

[email protected] | | @janeteastman

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