Seized Real Estate

Seized real estate is different from your typical foreclosure properties. In fact, most of these properties are not foreclosures at all, but the property that has become seized real estate through various U.S. agencies including IRS-Criminal Investigations, Immigration and Customs Enforcement, U.S. Secret Service, and the Bureau of Alcohol, Tobacco, Firearms and Explosives. These agencies have acquired this seized real estate through various crimes that have been committed or from illegal aliens that have been forced to forfeit their real estate.

Much of the seized real estate that is available is under the control of the U.S. Treasury and are auctioned off through the agency by a designated company. The funds that are received from the sale of this seized real estate go to the U.S. Treasury Asset Forfeiture Fund. This fund was created in 1992.

Much of the seized real estate is auctioned off on site. The U.S. government auctions off approximately 100 seized real estate properties per year in the U.S. and in Puerto Rico. There are various reasons that these properties have become seized forfeited including drug smuggling, child pornography, credit card fraud, money laundering and many more federal criminal crimes.

Additional seized real estate is often available from the IRS itself. This property has been seized for a person's failure to pay their taxes. This seized real estate properties, as well as items such as vehicles, are available through IRS auctions. The property is sold to repay the taxes owed on these items, although it does not necessarily mean that the seized real estate is free and clear. All property is sold as is, so if you purchase this property you are responsible for any repairs that you may have to make. Seized real estate and other property is a great way to find homes and land at a reduced price.