Q: How do I buy foreclosed property using my IRA?
A: Foreclosed property is purchased from the lender directly by directing the purchase through the IRA administrator. The plan makes the payment to the lender and the property is then vested in the name of your IRA.
Pre-foreclosures are negotiated with the owner of the property, as in any property purchase. The debt is paid out of escrow, and the property is then placed in the IRA.
