Tips on Getting a Clear Title

By dhinternational  /  August 3, 2011 / Comments Off on Tips on Getting a Clear Title
 Real Estate's Secrets - How to Get A Clear Title

Real Estate's Secrets - How to Get A Clear Title

We know that local governments issue tax deeds at the tax sales though they are not all clear titles. So how do we get a clear title?

1.) Do a search for tax deeds in places that you are interested in investing in. While you can get some information that is free of charge, there are also sites that require you to pay to subscribe for property lists. You can also get details in local newspapers as some counties publish legal notices.
2.) Select the properties that you are interested in investing among the list. It is advisable to choose more than one as there may be canceled sales due to owners paying off delinquent taxes prior to the sale.
3.) Contact the local county office to learn which of the officials that would administer the sale. Usually, it is the county clerk, property tax assessor, or the court clerk.
4.) Contact the tax sale administrator and get more details regarding the bidding process, rules, registration, property’s tax appraisal value, and the unpaid tax lien amount.
5.) Do a comparison on the amount of the delinquent tax lien and the tax appraisal value. The unpaid tax lien amount may be the property’s minimum bid. Choose properties which have appraisal value that would exceed the tax lien value.
6.) Look for a real estate lawyer that would do title search on the properties that you plan on bidding. Remove properties on the list if they have outstanding liens or mortgages as you may have to pay these off for you to get a clear title. Also remove those properties that may be subject to disputes.
7.) When ready with the reports, register for the tax sales and pay off the deposit amounts. You can also register for property auctions online depending on the county.
8.) Get your cash ready as there are tax sale auctions that may need you to pay immediately after the bid has been accepted.

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