Asset Details
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Asset Description
Single Family Residence - 4BR, 2.5BA, 3-Car Garage; Built in 1976, 2,971 sq. ft., 7,800 sq. ft. lot.
Asset Address
Firearms Prohibited
Members of the public attending the auction are prohibited from carrying/possessing a firearm(s) at the auction, even if carrying/possessing a firearm(s) is otherwise permitted under state or local law. The term “firearm” means any weapon (including a starter gun) which will or is designed to or may readily be converted to expel a projectile by the action of an explosive.
Asset Info
Date of Auction
Notice Information
Under the authority in Title 28 U.S.C., Sections 2001 and 2002, the property described below will be sold pursuant to a Judgment and Order of Sale entered October 2, 2023, in United States of America v. LOUIS VADINO, et al, Case No. 8:22-cv-01718-WLH-ADS, United States District Court Central District of California.
Legal Description
APN: 614-421-27;
Lot 27, Tract 8792, County of Orange, State of California, as per map recorded in 364, page(s) 38- 1, inclusive of miscellaneous maps in the Office of the County Recorder of said county.
Date of Auction
Bidder Registration Time
Minimum Bid
821,400.00
Mail-in Bid Form
forest_lake_mail_in_bid.pdf
(52.19 KB)
If you decide to withdraw your mail-in-bid prior to the sale, you must make notice of such in writing to the Property Appraisal & Liquidation Specialist (PALS) employee. The PALS must receive the written withdrawal prior to the subject sale. On a deferred payment sale, failure by the Bidder to pay any remaining balance due on the bid in accordance with the Notice of Public Auction Sale may result in the Bidder forfeiting the initial bid deposit.
Sale Location
Order of Sale/Notice of Sale
forest_lake_order_of_sale.pdf
(49.86 KB)
Terms of Sale
The property is offered for sale “as is” and “where is” and without recourse against the United States. The United States makes no guarantee of condition of the property, or its fitness for any purpose. The United States will not consider any claim for allowance or adjustment or for the rescission of the sale based on failure of the property to comply with any expressed or implied representation.
Form of Payment
All payments must be by money order or certified check or cashier’s check. Make payment payable to the United States District Court Central District of California. Address for mailing remaining balance: IRS, Attn. B Dipla – PALS, 225 W. Broadway, 2nd Floor, Glendale, CA 91204.
Should the successful bidder fail to comply with the terms of the sale, such bidder shall be liable to the United States for twenty percent (20%) of his bid on the property as a penalty.
The Clerk shall distribute the 20% penalty as directed by the PALS by check made to the “United States Treasury” to be applied toward payment of said penalty. Payment of said penalty shall not be a credit on the judgment of the United States. The property shall again be offered for sale under the terms and conditions of this order for sale or, in the alternative, sold to the second highest bidder.
Upon selling the property, the United States of America shall prepare and file with this Court an application to confirm sale and direct distribution of the sale proceeds, which will set forth an accounting and report of the sale of the property. The sale of the property shall be subject to confirmation by this Court. The application to confirm sale and direct distribution of sale proceeds shall be filed within thirty (30) days from the date of the sale. If no objections have been filed in writing with the Clerk of the Court within fifteen (15) days after the application to confirm sale has been filed, the sale will be confirmed by the Court. Upon confirmation of the sale, the Court will direct the IRS to execute and deliver its deed conveying the property to the purchaser. Upon confirmation of the sale, all interests in, liens against, or claims to the property that are held or asserted by all parties to this action will be discharged and extinguished.
The sale is ordered in accordance with 28 U.S.C. Section 2001 and is made without the right of redemption.
The U.S. may bid as a creditor against its judgment up to the value of the outstanding balance on the mortgage, without tender of cash.
The government reserves the right to reject any and all bids and to withdraw the property from sale.
Should the successful bidder fail to comply with the terms of the sale, such bidder shall be liable to the United States for twenty percent (20%) of his bid on the property as a penalty.
The Clerk shall distribute the 20% penalty as directed by the PALS by check made to the “United States Treasury” to be applied toward payment of said penalty. Payment of said penalty shall not be a credit on the judgment of the United States. The property shall again be offered for sale under the terms and conditions of this order for sale or, in the alternative, sold to the second highest bidder.
Upon selling the property, the United States of America shall prepare and file with this Court an application to confirm sale and direct distribution of the sale proceeds, which will set forth an accounting and report of the sale of the property. The sale of the property shall be subject to confirmation by this Court. The application to confirm sale and direct distribution of sale proceeds shall be filed within thirty (30) days from the date of the sale. If no objections have been filed in writing with the Clerk of the Court within fifteen (15) days after the application to confirm sale has been filed, the sale will be confirmed by the Court. Upon confirmation of the sale, the Court will direct the IRS to execute and deliver its deed conveying the property to the purchaser. Upon confirmation of the sale, all interests in, liens against, or claims to the property that are held or asserted by all parties to this action will be discharged and extinguished.
The sale is ordered in accordance with 28 U.S.C. Section 2001 and is made without the right of redemption.
The U.S. may bid as a creditor against its judgment up to the value of the outstanding balance on the mortgage, without tender of cash.
The government reserves the right to reject any and all bids and to withdraw the property from sale.
The Terms of Payment
Upon confirmation of the sale, all interests in, liens against, or claims to the property that are held or asserted by all parties to this action will be discharged and extinguished.
At the time of the sale, the successful bidder shall be required to deposit with the PALS by money order or by certified or cashier’s check payable to the United States District Court for the Central District of California a deposit equal to twenty percent (20%) of the bidder’s total bid immediately upon the property being struck off and awarded to such bidder as the highest and best bidder.
Before being permitted to bid at the sale, all bidders shall display proof that they are able to comply with this requirement. No bids will be received from any person who has not presented said proof.
Within three (3) business days of the date of sale, the successful bidder shall remit the remaining
eighty percent (80%) of her total bid by money order or by certified or cashier’s check payable to the United States District Court for the Central District of California.
At the time of the sale, the successful bidder shall be required to deposit with the PALS by money order or by certified or cashier’s check payable to the United States District Court for the Central District of California a deposit equal to twenty percent (20%) of the bidder’s total bid immediately upon the property being struck off and awarded to such bidder as the highest and best bidder.
Before being permitted to bid at the sale, all bidders shall display proof that they are able to comply with this requirement. No bids will be received from any person who has not presented said proof.
Within three (3) business days of the date of sale, the successful bidder shall remit the remaining
eighty percent (80%) of her total bid by money order or by certified or cashier’s check payable to the United States District Court for the Central District of California.
Additional Details
Disclaimer
This is an information notice only regarding a sale being conducted by the Internal Revenue Service.
Title Offered
Upon confirmation of the sale, any sale pursuant to this order shall be free and clear of any liens and encumbrances held by any party to this action including: Orange County Treasurer-Tax Collector; Internal Revenue Service; and Phi Sigma Kappa Aelde. Upon confirmation of the sale, the purchaser(s) shall have the Orange County Recorder record the transfer of the Subject Property upon that county’s register of title.
Property May Be Inspected at
Open House
Date of Open House
-
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Open House Bidder Registration
3/6/2024 AND 3/26/2024, 10:00AM - 1:00 PM