(FOX40.COM) — A South Lake Tahoe cabin will be up for auction by the Internal Revenue Service on Thursday with a starting minimum bid of $363,750.
On Sep. 13, 2017, A United States District Court judge ordered that 1274 Dedi Ave, South Lake Tahoe and 1278 Dedi Ave, South Lake Tahoe be foreclosed and sold with the proceeds going to the United States.
This order was given to cover the federal tax debts of David Pflum and to the El Dorado County Tax Collector and the State of California Franchise Tax Board, according to court records.
An open house of the property will take place from 10 a.m. to 1 p.m. on Thursday before the auction begins at 1 p.m. on Thursday.
Terms and Conditions of the Sale
The winning bidder will have to deposit 20% of the minimum bid with the IRS Property Appraisal & Liquidation Specialist via money order, certified check or cashier’s check payable to the United States District Court for the Eastern District of California.
Those looking to bid in the auction must show proof to the IRS PALS office that they can provide the deposit. No bids will be taken from those not approved to bid.
The remaining balance of the final purchase price must be paid to the IRS PALS office within 30 days following the accepted bid. The payment must be made by cashier’s check to the United States District Court for the Eastern District of California.
“If a successful bidder fails to fulfill this requirement, the deposit shall be forfeited and shall be applied to cover the expenses of the sale, with any amount remaining to be applied to the federal tax liabilities at issue of David Pflum,” the IRS document states.
“The Property shall be again offered for sale under the terms and conditions of the order of sale or, in the alternative, sold to the second highest bidder, at the sole discretion of the United States. The United States may bid as a credit against its judgment without tender of cash.”
Those attending the auction are prohibited from carrying/possessing a firearm(s) at the auction, even if they are permitted to do so under state or local law.
