Home buying comes with all sorts of unknowns. From seeing the property online, to viewing in person, to exposing the details of the title history, the road is often filled with surprises. Once under contract, the title company’s work begins, and a whole new string of unusual circumstances can arise.
So what’s an agent to do when the title company calls and informs the buyer that their future home was once sold on the tax deed auction? Most people (beyond the title agent) would not know why that’s an issue, but a tax deed in the back chain means the property cannot get title insurance, and therefore the buyer cannot obtain a mortgage.
Once the shock subsides, all parties in the transaction would probably wonder why that would be the case.
A tax deed sale requires meticulous noticing of the owners, allowing them ample time to redeem their property before the auction. But even after the auction, prior owners or their heirs can attempt to make claims on that property, and action is needed to extinguish those individuals’ interest and potential to bring a claim.
The traditional method for doing so is a quiet title action lawsuit undertaken by an attorney. There are a variety of drawbacks, especially during an active transaction.
Both the seller and the buyer have an equal interest in an expedient title clearance. A quiet title suit can take months, and the expense is unpredictable. The seller may become frustrated and wish to cancel if faced with such a variable timeframe. Additionally, if the transaction is already in the hands of a title company, both would want the highest likelihood of keeping that file with that closing entity.
Fortunately, our service provides a solution. We can certify clear title on a former tax deed property in 20 business days, avoiding quiet title with our attorney-led research method. Our underwriter network is the largest in the industry, utilizing three of the most prolific underwriters in the state of Florida, and casting the widest net of potential title agents and companies. While most of our clients are the seller in a transaction, hoping to assure themselves of the highest possible resale value for their property, we also represent buyers that are seeking a former tax deed to call their own. Both can utilize our services, and there are a variety of scenarios for ordering a title certificate during an active transaction.
Don’t lose your hope, or the home! Save your transaction with a tax deed title certificate today.
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