All Forum Posts by: Scott Bremer

@Kevin Sobilo Thank you for your reassurance. 

Hi all. I purchased a house at a County Tax Foreclosure auction in 2019, fixed it out, now a rental. Attempting to refinance, the title search company found an issue: they don't feel that the County I purchased the property from adequately informed the previous owners, who had abandoned the house, what was going on. They say I can either do a a) Quiet title action or b) Get the prior owner to sign on the line that is dotted. I'm worried that they'll sue to get the house back. 

Does anyone have any experience with this or suggestions for a way forward? 

Thanks for your reply! The tax foreclosure auctions I've been attending usually feature abandoned homes that are not habitable. They're sold with quit claim deeds and you're *technically* not supposed to trespass but not to do so would be foolish. Inspections/appraisals aren't the norm. 

Hi all! I purchased a property from a tax auction in 2020 for 35k, did most of the renovation myself for 70k, and now have a house worth about 175k, rented for the last 7 months. to a good tenant. I want to do it again! With that first house, I paid cash for everything by selling other assets. How should I use the house to buy another property at tax auction for a rent & hold? 

The problems: 

1. In my state, tax foreclosure listings are announced 30 days before the auction. 

2. Then after the sale, you have 30 days to close. 

3. There's no guarantee that you'll win anything or that there will be good deals. 

A lender I spoke to for a Cash out Refinance said that it could take 3+ months to close a loan, too long a timeline for an auction. 

What do you suggest I do?