[joeyayo8]

I have a question about a property(vacant land) I purchased at a tax deed sale in Florida.
I have received the tax deed by mail and I want to sell the property immediately. My broker told me I do not have marketable or sellable title. I have consulted a property attorney in Collier County which is where the property was purchased. The attorney told me I have 3 options. First,I can wait 4 years and this will clear title,which I don't want to do.Second, is to have the previous owner to sign a quit deed provided by the attorney which along with the title search done by the attorney would clear title and allow the attorney to offer my buyer clear title and title insurance.This scenario would be the least costly and the most quick,but what if the previous owners refuse to sign?Third,if they refuse to sign the attorney will file a quiet title action which would be more costly and take anywhere from 4 to 8 months. I want to sell this property now.Before I spend my money on the property attorney is there any other way I can clear title more quick or easier? I want to be able to say I hold clear title to any buyer when I go to closing.Can this be done simply through a title search?Do I have any other options other than the ones I listed.I would like a difinitive legal answer before I proceed.Any advice would be welcomed.
Thank you.

[hmcglynn]

Your best bet is to go to the current owner of the property and try to work out a deal with them. I've seen tax deed holders offer money for the property to the current owners just to get the deed signed over. When they are in a bad position like that they are usually willing to work something out. The only problem with this... is you don't know what judgements might be attached to this property.
You should get a title search done a.s.a.p. to verify the judgments aren't going to be more than the property value... yes this can happen unfortunately.
I work with people that get the search done before they buy the tax deed because they've run into the problem of judgments. If it is attached to the property it will stay attached even if you get a deed in your name.

A quiet title does take a long time because they're mailing and posting in papers and contacting people... it is a lengthy process but not as long as waiting the 4 years.

Contact your attorney and get the title search done before you go to the owner this way you know what you have to work with as far as expenses go. Also keep in mind that property in Florida isn't exactly selling to quickly if its listed to high. It is a buyers market and will be for a long time to come.

I hope I was able to help some
thanks, Heather

[ScottGem]

Not that this really helps, but this is the risk one takes when purchading property at a tax sale.

[Fr_Chuck]

Yes I would say a few things, first always know the laws of your state before you buy,

In many states you merely get a tax certificate and not even allowed on the property. In your case you are restricted in the sale of the property giving it a time for prior owners to file law suits,
This is not the case in other states.

If you need to sell, you may find someone who will buy it as it is, but it will be of course for a lesser amount.