QCD Versus Quite Title Suit?
Ok, so when you buy a prop at a tax deed auction, you get a deed. You can now file a quiet title suit to get clear marketable title....I understand that.
Now my question is....I was taught that you can ALSO just sell the prop to a wholesaler with a quit claim deed.
I want to make sure this is correct, because I dont want to file quite title suits and sit on the property forever. I just want to buy low and resell fast to wholesalers.
I have contacted 2 wholesalers and told them I had tax deed properties and I asked if they buy these, and they both said yes.
So can everyone just reassure me that this is another valid alternative to quite title suits??? lol...thank you
[addsig]
Of Course they would say "yes" to anyone offering bargain properties.
But the Devil is in the details.
In this case the offer to purchase and sale agreement will most probably require the seller (you) to provide a marketable title. Which, in Florida, requires a Quiet Title suit.
[addsig]
yes, agreed, you cannot sell what is not yours to sell, a QCD only gives you the same position as the person who gives it to you, if their title is not marketable neither is yours.
good luck
Actually, if you are wholesale the property you can just do a quit claim deed. I have bought properties wholesale whenre the seller gave me a QCD and I then had to do the quiet title.
Of course that means it can only be a cash deal so do not expect retail or near retail prices.
linlin....do you know a good way to approach a wholesaler (like yourself) to do this? Should I just call around and ask them to buy my tax deed QCD, and that the terms MUST SAY THEY ARE RESPONSIBLE FOR QUITE TITLE and marketable title. I understand I will get less than market value if I do this and that is understandable.
Just wondering if there is a more effective approach, or better wordage I should use to get this done my way.
As Always, Thanks!
[addsig]