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Updated about 4 years ago, 10/14/2020
Uninsurable Title On Real Estate Property
I need help understanding what I need to do on this potential SFR I want to purchase. It fits my numbers, but has title issues. This is the email I got from my buyer's agent:
“According to the listing agent, after examining the title abstract, it was determined that title to the property is uninsurable in its current state due to a previous tax sale in the chain of title. They have attempted to prove that all interested parties received actual notice of the tax sale, but were unsuccessful; and therefore, the title insurance company refused to insure without a quitclaim deed from the prior property owners.”
Is it possible to make this work so I can own this property? Any advice would be appreciated!