Yahoo Movies A four-bedroom house in California for $105,000? Well, maybe
In an uncommon move, the Internal Revenue Service has put a residential property in Modesto up for auction.
The property scheduled for auction is located at 524 Wilmont Lane in east Modesto, near Hughes Elementary School. The two-story home, built in 1990, measures 2,351 square feet and has four bedrooms, three bathrooms and a three-car attached garage.
Interested buyers have until Saturday, Jan. 22, to mail their bid to the IRS, and the in-person auction is scheduled for Tuesday at the IRS offices in Glendale. More information about the auction, as well as necessary forms, can be found on the IRS website.
The minimum required bid for the property is $104,935.11.
Viewing of the property is limited to driving by only, according to an IRS release.
Properties are put up for auction by the IRS as an “action of last resort,” according to Raphael Tulino, an IRS media relations officer. Tulino, who is not authorized to speak about individual auction items, said that generally, a property auction occurs only when a taxpayer has not paid taxes and the IRS has made multiple unsuccessful attempts to contact the person.
“If we’ve failed (to collect tax payments) in every other attempt that we’ve tried, then, by law, the IRS can take property to satisfy a tax debt,” Tulino said. “It’s not common.”
According to its website, the IRS currently has a total of 10 properties listed for auction across the country.
IRS auctions are different from bank auctions, as the agency seizes property only when an owner has failed to pay taxes.
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