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Updated over 10 years ago,
NEED EXPERTISE PLEASE! TAX DEED SALE!
I am currently under contract with an individual who purchased a property, via Florida Tax Deed Sale, less than three months ago.
I have looked up the county records and he did actually purchase it from the county. I just received an e-mail back from the title company stating that they cannot grant title insurance on the property because he has not filed a suit to quiet title. He can either file the suit to quiet title or wait four years to make this property eligible for title insurance.
I am having one of my friends (a woman at a closing agency) dig into this and see if there are any existing liens, encumberances, etc.
He does not want to do that. Also, he will only sell through a Special Warranty Deed. I understand that MORE THAN LIKELY everything would work out but I am not willing to take that chance.
What would your next move be? I want the property and am willing to work with the seller.
Should I go through and purchase the property and file a suit to quiet title myself (I will take $5,000 off the purchase price or negotiate something like that)
Should I attempt to force the gentleman selling the property to file a suit to quiet title?
I am uncomfortable because I have no recourse against anyone who owned the property before this previous seller.