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125
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Roger Poulin
  • Realtor
  • Hermitage, TN
93
Votes |
125
Posts

Loan on tax sale property

Roger Poulin
  • Realtor
  • Hermitage, TN
Posted

I have bought a hand full of properties in Tennessee at tax sales. In this state when a property is purchased the deed goes into the purchasers name shortly after the auction but there is a one year right to redeem, then the buyer can file a motion to quite title with the court to get an insurable deed.  I have properties that have passed the redemption period and are in the process of clearing the title, but that can take 6 months to a year.

Is there a lender out there that would loan me funds on a property before the title is quite?  I would like to reinvest some of the profits before the 2 year window.  Even if I could only borrow 50 or 60% that would help me speed the reinvestment.  If someone would do that what terms should I expect? If not Tennessee, is there another state?

Just a thought.

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