Tax Title Insurance vs. Quiet Title Action?

[Marc M.]

Hello,

I have purchased several tax-foreclosed properties through auction. One of these properties (two side-by-side vacant lots) I am planning to sell on the MLS, and I had my title company look over the foreclosure proceedings from the County Treasurer and they cannot give me title insurance due to the foreclosure notices going to an address no longer used by the previous owner. So, I either have to do a quiet title suit or pay a higher insurance premium through Tax Title Services. Given the current flaw in the title, how likely is it that if I do a quiet title suit an interested party will step forward and try to reclaim the properties...and if that were to happen would I lose my investment (ie: the county does not guarantee clean title...so I'm assuming the sale is at the buyer's risk)? OR what about doing both....in other words, is it safer to get the Tax Title Insurance, and then initiate the quiet title suit knowing that someone may step forward?

Best,
marc

[Ron Walraven]

Call Karen Ferguson @313-418-7111