Selling property I bought at the tax deed auction
I bought property in Florida Tax deed auctions, there is no redemption here, however there could always be a possibility of extenuating circumstances.
I would like to turn around and sell these I don't suppose I could use a TAX Deed maybe only the country can use that form, I can use a quit claim. Was thinking of offering financing to the buyers. However these property's are on the low value side and investing $2000 in a quiet title suit would wipe out any profit from a sale.
So am I opening myself up to lawsuits if a difficulty develops down the line for the buyer with a prior owner?
I would use a quit claim but still I don't want to cause any buyers to lose their money if something should happen.
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#4 Marketing Your Property Contributor
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- Greater LA/Orange County area, CA
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#4 Marketing Your Property Contributor
- Lender
- Greater LA/Orange County area, CA
Since you've purchased, you are going to have a certain unknown amount of exposure due to the nature of how you acquired title.
Attempting to monetize could be accomplished with a Grant or Warranty Deed and a Purchase Money Note secured by Trust Deed or Mortgage with a clause addressing the potential issue and who and how risk is to be born.
I put these clauses in properties I buy to reverse risk back on seller.
Maybe Bill Gulley will weigh in.