I have a piece of land that I bought 1.5 years ago that was purchased cash with a General Warranty Deed, with no title insurance. I want to sell it online and then record the deed with the county myself, but am not sure about what deed I use. I don't feel like the property is worth enough to warrant paying for a title search and title insurance so that I can know there are no issues. My understanding is that with a General Warranty Deed, I am saying there are no issues since the property began. But with a Special Warranty Deed, I would just be saying there are no issues since I have owned it, which isn't saying much in 1.5 years.
Would the person I bought it from have just been taking a risk that no title issues came up, or do you think they actually knew nothing was an issue? They too only owned it for a short period of time.
How do you determine what type of deed to use when selling a property? Specifically if buying/selling land of low value, do you use a certain kind of deed and is it worth paying 10% of the cost of the property to do a title search?
Thanks in advance!