If You Sold A Tax Deed Property, What Kind Of Deed Will You Deliver?
Do you sign a Quit Claim Deed when you sold a Tax Deed
property, what kind of proceduce do you let your buyer to be
aware, do I have to chase the last owner to sign a quit claim
deed to the county, or challenge a quiet title before I do the
sale, My state is CA, and the property is locate in San Diego, any one can help will be greatly appriciated. 
Thanks in advance
Jenny Chau 
nullnull[ Edited by jennychau on Date 01/25/2005 ]
Thanks for your reply, my state is CA, and the Property is locate in San Diego,
Quote:
On 2005-01-25 22:23, jennychau wrote:
Thanks for your reply, my state is CA, and the Property is locate in San Diego,
No matter where you are, you can sell using a quit claim deed. Keep in mind that generally speaking, you will get less money selling this way.
You obviously would not issue a warranty deed on a sale unless you could deliver an insurable title. The questions you ask are ones that should be asked before buying property at a tax sale. You need to research your local area to determine what must be done to allow you to deliver an insurable title.
Thank You for your reply, you mean I should ask the county about how to deliver an insurable title, I will do that tomorrow.
Thank You for your reply, you mean I should ask the county about how to deliver an insurable title, I will do that tomorrow.
Well it depends. Maybe the people that won the bid are end-users and going to use the property to build their dream house and it is the last lot in the neighborhood.
Maybe it is the lot next to me and I don't want a house there and the price paid is worth it to me to ensure no one will ever build there.
There could be lots of reasons.
It was like a feeding frenzy. There are plenty of lots in that neighborhood (10-15), and it is a growing area with a lot of land left in it. I will be going to 2 more auctions in 2 other counties this month, and I’ll see if this one today was just an anomaly or not. To me it looked like there were people there who did not perform a realistic evaluation of the property, comps, and the neighborhood. Is this common?
chipg8tr--FL-------------------
Seems you have not read in the archive.
Yes, at many tax auctions prooperites sell for more than market value. There are many people who bid without even looking at a parcel map, let alone a topo map and seeing the property.
On Nv 8, 2003, I posted about an auction in El Dorado County, CA, I attended. One man bought a strip of land 1 ft wide by 20 ft wide for $10K. It started at something like $600. So, there was fierce competitive bidding to get it up to that point.
Some people have more money than brains.
There are still some deals to be made in tax sales. It's just that you have to pick your shots. You have to choose the right counties and research the properties, as you did, to be sure of market value.
It is not as easy as it used to be.
Good Investing************Ron Starr*************
chip,
That is par for the course in Fl. I regularly go to sales where the lots go for 2-4 times market. On the other hand, some areas the lots go for way less than market. Any county sale that has more than 20 people will normally see a runup on price (based on my experience) and a lot of those folks are not researching.
A guy at a recent sale bought an FPL easement tract for $38K
Bidding at the tax sales in most counties in Florida has truly become a joke. Too much money chasing too few deals. Too much dumb money chasing a ultra hot Florida market. Too many overenthusiastic people who did not do their homework Too man that just got got too caught up in the bidding frenzy and went way above their original number cause it must be a worth a heck of a lot more if everyone else wants it too..
Many are now pursuing the overbid angle by getting liens on the property ro quit claim deeds from the owner. Then they show up at the sale and help further fuel the mania by protecting their interests.
In the major metro areas some send plants to bid it up too. Either they get it or it gets bid up close to market value. Sometimes the plant gets the high bid and the investors decide not to pay cause it went too high. No problem they lose the $200 deposit, the plant gets banned and they just send someone on the resale till they get it right.. What a business.
auctions can be a strange "animal" you can find deals and times "junk" will sell is if made of gold. its a numbers game. just keep going and you will find deals. beware of the "buy bidders" these on people that will run up the price in the sellers interest. sometimes sellers will bid and buy to keep the price high................km
It's not just the tax auctions that are like this. I go to several auctions a week and in the last month or so I have seen people buy properties for more than they were listed for in the M.L.S. just a few months www.earlier.I have to wonder if people are having to do something with money before the end of the year for tax purpose or if they are just new at this and get caught up in the whole bidding thing.
George >> Naashville Tn.
I think auctions tend to give rise to that "win at all cost" mentality. Folks get so caught up in competing that they just lose all sight of what's what.
I agree with connections, I just saw a HUD home bid for more than the comps in the area and the house was not in fair market condition. who knows maybe i can come back and buy it from them when they go into foreclosure.
Try looking for good deals on land in this area from private sellers, newspapers, ect. Usually the auctions that have high bidders, will always have high bidders. Go to these auctions with your property for sale, hand out flyers, you can usually make a good profit from your property from these people at the auction.