Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

Account Closed
  • Monroe, LA
1
Votes |
12
Posts

Seller Financing On Property That Doesn't Have A Clear Title

Account Closed
  • Monroe, LA
Posted

I was looking to wholesale a vacant property that I got under contract with a motivated seller that lives 4 hours away from the property. The seller acquired the property on a tax deed auction sale several years ago and now they are looking to sale. I got the property under contract for a great price. I turned in my contract to my title company for a title search. I got a call from my title company saying that they cant issue a clear title, do to it having a tax lien on the property and the tax lien holder is now deceased and didn't sign over their rights before they had past. I had told the seller this information and they are really trying to get rid of this property.

The property is not in terrible condition at all, it needs minor repairs and a good clean up. The home is the only vacant property on the block. I would be interested in investing into this property for my rental portfolio.

Can the seller and I , structure a seller financing deal on this property that doesn't have a clear title? Can we do a loan term that is over 30 years? A term that is infinity?

I know that I may not ever be the "owner" of the property but I feel like I can get a good cash flow out of it for many years to come. I am curious to know. If anyone has any advice or knowledge on the matter please feel free to share. 

Thanks.

Loading replies...