Today I’m answering your question, “Do you need Tax Title Services?” and the topics I’ll be covering are:
- Do You Need Title Services?
- How Do Tax Deed Sales Work?
- Title Certification for Tax Deed Properties
- How to Get a Clear Title on a Tax Deed
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Do You Need Title Services?
Learning is a never-ending blessing and a challenge for all who want a good life. Fortunately, there are people and companies that are dedicated to helping all of us, like title companies.
Do you need tax title services? I’ll respond with a few questions:
- Are you an expert at researching real estate and the title to the property?
- Do you understand who the current owner is?
- Do you understand what defects may be on the title?
- Are you familiar with the term clear title and understand the significance of it?
- What is the priority lien? Why is it a priority lien, and why is that important?
These are just a few of the questions that a company like Tax Title Services or any title company could help you with.
My answer is a little more than direct, and that is you don’t know what you don’t know. Not knowing could cause you to invest in a defective piece of real estate. What do I mean by that? For example, is the property you’re purchasing encroaching on another property? A title company could explain that.
How Do Tax Deed Sales Work?
I’m Ted Thomas, and for more than 30 years, I’ve been investing in a subset of the traditional real estate business. I’m in the business of unwanted real estate that the property owner has defaulted and failed to pay the state-mandated property taxes on.
Property owners who fail to pay property taxes forfeit their rights of ownership. Why they forfeited I don’t know. It could be that they failed to perform due diligence prior to their purchase, and they acquired a property that has excessive liens which occurred because they didn’t do an accurate search of the title or employ a title company to assist them.
I purchase tax defaulted real estate, also called tax deed property, at county auctions because the starting bid could be as low as the back delinquent taxes, only 10-20 cents on the dollar. Also, at a tax defaulted auction, the treasurer will delete the mortgage or trust deed loan.
So not only can I purchase real estate at a tax defaulted auction for a 60%, 70% or 80% discount, but I can also get the property mortgage-free.
I have a free gift for you that will show you how to profit with tax lien certificates and reveal the secrets of tax deed investing, and I’ll also include an auction list. Get it all now for FREE.
Title Certification for Tax Deed Properties
When you purchase defaulted property, be aware that the county sells the real estate as-is. The county doesn’t guarantee the condition of the property or a clear title.
Typically, you will receive a quitclaim deed. It may be called a sheriff’s deed, treasurer’s deed or commissioner’s deed, but despite the name, it will more than likely still act as a quitclaim deed. This means that the county will not be taking responsibility for any defects in the property or title.
This is why you need to do your due diligence prior to purchasing. Once you decide to sell the property, you will want a clear title.
How to Get a Clear Title on a Tax Deed
Selling the property is the biggest challenge. If you received a quitclaim deed from the county, you would very likely need to see an attorney about having a quiet title issued.
Otherwise, the new buyer will be skeptical. If they’re not skeptical, their broker or attorney certainly will be. They will require a clear chain of title.
To solve this challenge title insurance will be required to sell most properties.
We hope you enjoyed Ted’s lesson, “Do You Need Tax Title Services?”
If you’re a tax delinquent property investor, title companies, like Tax Title Services, can greatly assist you in both ensuring and insuring that your title is clear.
When you purchase tax defaulted property, don’t be surprised if the tax deed you receive from the county has the narrative of a quitclaim deed. In this case, you may need to have an attorney do a quiet title action to get a clear title before you sell the property.
If you’d like to learn how to reap huge rewards from investing in homes at tax delinquent property auctions, Ted Thomas provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops, web classes, and personal coaching with certified coaches.
Get started today by taking advantage of this Free Gift from Ted. Act now, it costs you nothing and will give you a big head start!
Ted Thomas is America’s Leading Authority on Tax Lien Certificates and Tax Deed Auctions, as well as a publisher and author of more than 30 books. His guidebooks on Real Estate have sold in four corners of the world. He has been teaching people just like you for over 30 years how to buy houses in good neighborhoods for pennies on the dollar. He teaches how to create wealth with minimum risk and easy-to-learn methods.
Ted Thomas is not an attorney and not giving legal advice, but giving information that is typical of the tax defaulted property investing business.