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Updated almost 12 years ago on . Most recent reply

User Stats

29
Posts
2
Votes
Eric Robertson
  • Real Estate Investor
  • Homosassa, FL
2
Votes |
29
Posts

Need advice-tax deed property with Quit Claim Deed

Eric Robertson
  • Real Estate Investor
  • Homosassa, FL
Posted

First off yes I am a newbie...lol

I came across a "deal" today and need some advice.

This home was purchased as a tax deed sale by the current owner and she says "tax deed property in need of rehab, sold as is with ownership transferred by a Quit Claim Deed."

Now this is a A-frame house 2bd/1bth with an addition on one side, and is less than 1000sq ft and built in the mid 60's From the few pictures I have seen,it needs complete interior rehab. Less than an acre so no real value in the land in that area. Roof looks good from the pictures I have seen. The home is an hour and a half away so not going to waste time and money looking in person unless someone here can give me the "green light"

My problem is this...how do you run comps on an A-frame, in a tiny town in central Florida? There is really nothing to compare it too. She is asking $6K and from searching records it looks as if she got the home for $4100.

Also what pitfalls could I run into with this Quit Claim deed, I am brand new to wholesaling and have made decent progress but have yet to close a deal. Is this something I should even think of pursuing? Do not expect to make much on this at all but would it be worth it for experience? Will I even be able to actually find an end buyer and close?

Thanks for the much needed advice!

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