Real Estate Investor · Saint Petersburg, FL · Member since 2013 · 1k+ posts · 951 votes
10y
Same as any other house except you have a tax deed and do not currently have marketable title. In Florida you'll need to do a quiet title action or use a company like cleartosell (~$3k) in order to transfer with any type of warranty deed.....or you could find a buyer willing to take it on a quit claim deed with no title insurance (probably at a deep discount). You'll also want to verify the amount of any liens that are still with the property (government liens are not wiped out by a tax deed auction....code enforcement, utility, lot clearing, special assessment, etc).
Denver, CO · Member since 2016 · 19 posts · 1 vote
10y
@Kalmen Goldberger Whoa there cowboy! I agree with Charles that some research should have been done first before buying - not to say that you don't have a smokin' deal -
However, you may have to wait for a certain period of time before you can even get the title legally transferred to you in order to sell it. The tax lien auction/investment game can be a good long term strategy IF you do research on the property, current owner, and laws within your state first.
Real Estate Investor · Saint Petersburg, FL · Member since 2013 · 1k+ posts · 951 votes
10y
Same as any other house except you have a tax deed and do not currently have marketable title. In Florida you'll need to do a quiet title action or use a company like cleartosell (~$3k) in order to transfer with any type of warranty deed.....or you could find a buyer willing to take it on a quit claim deed with no title insurance (probably at a deep discount). You'll also want to verify the amount of any liens that are still with the property (government liens are not wiped out by a tax deed auction....code enforcement, utility, lot clearing, special assessment, etc).
Real Estate Agent · Jacksonville, FL · Member since 2016 · 51 posts · 14 votes
10y
Welcome to BP. If you can't sell, I someone who can manage it for you as a rental for a nominal 10% monthly. They'l do all the work. market the property, vet the tenant and get them in a lease. All you have to do is sit back and collect that cash.
Consultant · Ball Ground, GA · Member since 2015 · 228 posts · 100 votes
10y
I would find out what similar properties are selling in your area and price the property at a significant discount to the other properties. You can try and unload on craigslist, ebay or postlets. What you have to check on is the title. You own the property but do you have title? If you don't have title then your potential buyer can't get a mortgage on the property. You still have options. You could owner finance the property or sell your interest via a Quit Claim Deed instead of a Warranty deed. You can also rent the property. Hope this helps.