FOR SALE: On Thursday, the IRS will...

FOR SALE: On Thursday, the IRS will auction a $1-million custom house in Coto de Caza, asking only $379,408.44 (the amount of back taxes) and willing to settle for a lot less, a spokeswoman says. . . . A great deal? Perhaps, but consider that the buyer must assume the $700,000 first trust deed, the $35,000 second mortgage and the responsibility of evicting the current owners. . . . The home is one of five to be auctioned Thursday at the IRS office in Laguna Niguel.