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Resolve Tax Deed IssuesHow to Resolve Tax Deed Issues

How to Resolve Tax Deed Issues After a Purchase?

09 Sep 2020

Anyone investing in real estate knows how bargain plays an important role throughout the process. Many people resort to tax deed auction to save on costs. This is easily noticeable, given that many investors specialize in this field.

 

Although many investors see tax deed auction as a perfect way to save money, it is not perfect at all. This is because it comes with many unsighted issues. Hence, what to do in case a buyer face issue regarding the tax deed after the title closing was concluded?

In this article, we will show how to react when a tax deed purchase comes with title issues.

 

What To Do In Such Cases?

1) Fill For A Quiet Action:

Some new property owners, especially first-time home buyers, may experience some issues regarding the title. In this specific case, it is possible to register for the quiet title action lawsuit.

 

Commonly, this is the legal action used when other parties have valid claims towards the same title. Once the property owner fills for the quiet title action, the claim holders will be named in the suit. They will be issued with legal papers and have the right to provide feedback in the process.

Most situations show us that quiet title actions are won by issuers. It happens because the court uses the right measures to ensure that nobody has a defense to rise.

 

2) Ensure The Title Of A Tax Deed Property:

This is an alternative solution, instead of using quiet title action. Getting insurance for the title will protect the buyer from any title issues that may appear in the future.

 

However, it is rare to see this alternative in the course. This alternative is almost a secret in the real estate industry, and we explain why.

 

The amount of premium paid for this type of insurance is commonly less than the legal fees and court costs associated with quiet title action. Hence, real estate attorneys prefer to let customers resort to quiet title action, instead of getting insurance.

 

Even though, ensuring the title can be vital in potential issues that may appear in the future. This way, this alternative cannot be put away.

 

3) Seek the guidance of an expert counsel:

This alternative can be a clever move, as it will open a new set of possibilities on how to react to any situation.

 

An expert counsel will make a huge difference in the process. The buyer will be advised on what option is the best to protect his interest in the purchase. Also, the advised person will be able to make strategic moves such as doing a cost-benefit analysis of the whole situation.

 

The best thing about this option is that it will offer guidance throughout the whole process on how to handle the situation. It is essential, as each move in such cases can determine the fate of the process.

 

Do You Need Expert Help To Resolve Tax Deed Issues In Florida? Marina Title Will Help You:

 

Our team of experts has years of experience solving issues involving tax deed. Waste time no more. Contact us by calling us to (305) 901-5628 or sending us an email to Romy@MarinaTitle.com and get help now.

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