Question: Once I get the deed to a tax sale property, will I be able to take out a loan on that house, or will I have to clear the title first?
Answer: You generally will need to clear title before you can take out a loan. If there is a legal challenge period following foreclosure of a property, during which the previous owner or other interested party can challenge the tax sale, you will normally have to wait for that period to expire before you can clear title. In California, for example, the legal challenge period is one year; in Arkansas it is two years. Usually counties/states advise that you not make any major improvements to the property during this time period.
We work with a company that can, in most cases, clear or perfect the title in about 45 days. Their costs are reasonable and they have been doing it for years. This is a wholly separate company, so we will just provide you with the personal contact.
Contact us at 913-381-4520 or firstname.lastname@example.org.
The Platinum Rogue Investor Collection has the answers to all your tax sale questions!