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Updated almost 4 years ago, 02/10/2021

User Stats

29
Posts
1
Votes
Rowdy B.
  • Developer
  • Flagstaff, AZ
1
Votes |
29
Posts

Foreclosure Title Company Recommendations - AZ

Rowdy B.
  • Developer
  • Flagstaff, AZ
Posted

I am in the process of acquiring 20+ bare land lots through tax lien foreclosure. All of these properties have five or more years of unpaid taxes, and can be purchased "over the counter" directly from the county. My intent is to build single family homes on each lot, and then sell them. I am currently building several homes in the same municipality, and have done many weeks of due diligence to understand the value of this course of action, as well as the potential pitfalls. I am using an attorney to foreclose on my first few properties, and he charges $5000 per property. I am a full time property investor, and for the potential savings of $100K+ for 20+ properties, I am more than willing to put in the time and effort and go through the learning process. From other posts I've read, I have paid for the tax liens and will foreclose in my own name, not the name of my LLC (which I believe requires an attorney).

From what I understand, quiet title is granted through the court foreclosure action (correct me if I'm wrong).  However, for me to resell these properties, I'm reasonably certain that I need title Insurance from a title company.  I have spoken with several title companies, and most of them do not provide title for tax lien foreclosures.  A few others will provide insurance, but only if the foreclosure is handled by an attorney.  I have found two who have said that they may be able to do this, but only if I provide proof of serving the 30 day notice using a third party service to each individual who may have an interest in the property.  My attorney has indicated that in the case where the owner who is in default is an entity, the law only requires that the 30 day notice is mailed to the address on file with the county.

If one of you could recommend a title company who would be able to provide title insurance without the use of an attorney, and without the use of a third party service to track down the owners of the entity and serve them personally, I'd appreciate it.

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