All kinds of reasons. But maybe one of the most important is to have military troops willing to put their life on the line to defend your right to even ask that question.
Thanks for the reply! You state I can "take possesion" as soon as I purchase the property. Are you saying I can force the occupants out of the property? If so, at this time can I have them sign a Quit Claim Deed. If I can do this and they sign it, the property is ready for renovation or resell, correct?
So I bought the property and say I evict the tennants peacefully. I am now in the 6 month redemption period being they were not homesteaded. Is there a way I can have the prior owners relinquish their rights of redemption?
No fraud there!! A Quit Claim Deed is exactly as it implies and has no warranties as it just releases any claim (IF ANY EXIST) on a property you hold. There are three actual types of deeds with varying guarantees. A GENERAL WARRANTY DEED is primo, a Special WARRANTY Deed ( which includes Sheriffs deeds, bargain and sale deeds etc.) A quit claim deed. When you buy a property never sell it again for more deed than you bought. You have to gurantee what you sale up to what you bought. (We are talking deeds here and ownership not dollar value).
Thanks for the response. I actually purchased the book you recommended and am currently reading it. I hope to put it to good use over the next few months.
Best of luck to you. Here are some common sense tips:
1. If possible scout the properties ahead of time on which you want to bid on liens.
2. Have a list of the ones you want, and maybe subdivide it into a) those you are actively interested in and b) those you would accept if the bidding is frantic and the others not available.
3. Know your limits as to how much you are willing to bid individually and overall, and STICK with them! One can get caught up in the pace.
All kinds of reasons. But maybe one of the most important is to have military troops willing to put their life on the line to defend your right to even ask that question.
You may be in the wrong forum if your first post on an investor’s site is questioning the necessities of taxes. Just an observation.
Thanks for the reply! You state I can "take possesion" as soon as I purchase the property. Are you saying I can force the occupants out of the property? If so, at this time can I have them sign a Quit Claim Deed. If I can do this and they sign it, the property is ready for renovation or resell, correct?
Great Info! Thanks -
So I bought the property and say I evict the tennants peacefully. I am now in the 6 month redemption period being they were not homesteaded. Is there a way I can have the prior owners relinquish their rights of redemption?
Thanks for the information Loon. This is really helpful to me this early in the game.
No fraud there!! A Quit Claim Deed is exactly as it implies and has no warranties as it just releases any claim (IF ANY EXIST) on a property you hold. There are three actual types of deeds with varying guarantees. A GENERAL WARRANTY DEED is primo, a Special WARRANTY Deed ( which includes Sheriffs deeds, bargain and sale deeds etc.) A quit claim deed. When you buy a property never sell it again for more deed than you bought. You have to gurantee what you sale up to what you bought. (We are talking deeds here and ownership not dollar value).
Thanks for the response. I actually purchased the book you recommended and am currently reading it. I hope to put it to good use over the next few months.
Great! You will find it very helpful.
Best of luck to you. Here are some common sense tips:
1. If possible scout the properties ahead of time on which you want to bid on liens.
2. Have a list of the ones you want, and maybe subdivide it into a) those you are actively interested in and b) those you would accept if the bidding is frantic and the others not available.
3. Know your limits as to how much you are willing to bid individually and overall, and STICK with them! One can get caught up in the pace.