Repository Properties

hi my question is if i purchased a repository prop (land) in pa. what are the steps i can take to resale the property .i know about the IRS liens but what i dont understand is that i recieve a rep deed and a title company wont insure against it i? i would like to learn how i can clean this up and what fees will i expect,also besides irs liens what other liens should i be aware of also if there is no irs liens will this be free and clear of all liens

Comments(1)

  • JohnMichael25th September, 2004

    Repository properties are normally free and clear of any judgments but are sold under a
    Buyers beware. No guarantees or warranties clause! You do receive a tax claim deed, not clear title to the property. Most title insurance companies will not insure the property without a quit claim deed or an action to quiet title.

    When I say normally I mean all counties do not provide a clear title. If there are any encumbrances on the property you will have to clear them.

    Title companies are not best in working with repository properties and this is where a good real estate attorney comes in handy.
    [addsig]

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