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Forums » HUD, VA, and Tax Sales » buying thrugh tax deeds and re selling

buying thrugh tax deeds and re selling Subscribe to buying thrugh tax deeds and re selling

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Jarcelyn Dorsey

Real Estate Investor · Orlando, Florida


Forum_avatar_avatar-realesinvest

Icon_minipost Mar 28 '08, 08:45 AM

I'm looking to purchase tax deeds through auctions. when i buy them and try to re sell em. Do i have to use the P&S agreements even if it's a lot with no house?? Does anyone know where i can find a break down of the P&S step by step explantion.

Edited: 06/26/2010 at 04:57AM


G.D. Haizlip

Real Estate Investor · Atlanta, Georgia


Forum_avatar_avatar-moneymakers

Icon_minipost Jun 22 '08, 09:14 AM

Greetings Realesinvest,

First, with respect to the Tax Deed Process, you may need to know that the Deed may or maynot be " Free and Clear" . Check that first. For example, all Deed Sales are not Deed Sales where the properties are sold Free and Clear, some are subject to liens while others are not. It all depends on the laws governing that Tax Sale.

In any case, you can either have a title search conducted on the property prior to your purchase/bidding, or afterwards (if you are sure you are going to bid-on the property). Once you have a Deed, you can offer it " AS-IS" to another Buyer/Investor, or proceed to get title insurance, which requires a Title Search Company so you can now offer it Free and Clear, subject to the title search. However, remember there are some states in which the properties offered are absolutely sold " Free and Clear" of all liens, encumbrances, etc.

Once you have a property that is Free and Clear, the P&S process is like any other property that you place for sale or under contract.

Best Regards & Much Success As You Invest,
MoneyMakers,

Edited: 06/26/2010 at 05:23AM


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