10
Auction
& Sale
lTo reiterate, most taxpayers will pay when faced with
seizure or after being seized,
only 10% allow the property to go to auction.
Therefore, continue to
try to get the taxpayer to pay even after seizure, and if payment arrangements are made – keep the
time frames short. It is recommended that you always obtain
full payment (certified
funds, cash) prior to releasing the property.
If you still
cannot get payment:
Prior to going any further, try to determine the value
of the property (thinking in
terms of an auction). If the amount
garnered at an auction will not
cover the expenses of conducting the sale and at least a reasonable amount of the taxes, penalties
and interest owed then it
is not cost-effective to proceed. If
you are completely unable to
determine value, then you can have your professional auctioneer do an appraisal for you
(remember however, this will add
costs).
