Purchasing a Tax Deed Property
Hello Everyone, i'm quite new to RE and i'm looking at my 3rd deal which is a duplex. The owner acquired the property through tax lien foreclosure over 2 years ago and has been renting it out. We've been in the negotiation process and he told me that i should call my bank first to see if they're ok with Tax Deed Title. The owner told me that if i purchase the property, the title company has to do extensive title search and convert the "Tax Deed" into a "Warranty Deed". I'm not so familiar with this and i'm wondering if there are anything else or other risks i should be aware of? Thanks
-Nathan