Michigan Tax Sale Deeds: Any New Info On Getting Title Insurance?
I recently sold a vacant lot that i bought at auction in 2002.. In order to sell with a warranty deed, i opted to use Tax Title Services in CA for $1200, rather than hire an attorny for quiet title. Since i made a fair amount of money on the deal (bought for $600, sold for $16k) i didn't mind doing it. I still have 2 other lots that i bought at auction, neither are going to make me near that amount of money...so....
Has anyone heard/experienced anything new with Title companies and tax sale properties around here lately? None would touch them when i checked a while ago(except for First American throught Tax Title Services). I keep hoping that something will give but i can't seem to find anything. Anyone out there able to give a Head's up?
As always, eternally frozen in MI
Becki
lorien--(MI)-----------------
If they are not too expensive, it is possible that your buyers will pay all cash and not require a loan. If this is so, they would not HAVE to have title insurance, although some might WANT it.
So I suggest you try selling without title
insurance at first and see how it goes.
One of the best ways to sell a vacant parcel is to the owners of the neighboring properties. Get their names and tax-bill mailing addresses from the assessor's office and send them a letter.
Good Investing*******Ron Starr***********