Post Tax lien Auctions

[Austin Ralls]

Hello BP Community!! 

So I am planning to buy some properties at my upcoming tax lien resale auction in okc. I have been informed by the county that I will receive a handwritten deed with my name on any property that I successfully buy from the auction.

I have talked with two attorneys that are telling me two different things, one looked up the legislation and forwarded it to me and the other one just explained that he would do the quiet title and named his price. 

So my question are...

1-  can I get a heloc on the properties I purchase from this auction with just the deed with my name on it or will I have to go through the title company to get that put in my name before I can? 

2-  is quiet title really necessary or is it a case by case scenario? 

[Ned Carey]

@Austin Ralls as @Bruce Lynnsays the main issue is title insurance. Lenders will not loan without title insurance. It is my understanding that all states that do tax deeds, a quiet title action is needed to get title insurance. An exception might be a waiting period (up to three years).

The person to answer that as Bruce says is not just any attorney, but a title company that issues the title insurance. 

Unless you are going to live there you cannot get a HELOC. A Home Equity Line Of Credit . Is only available on your HOME. You need to ask for a business line of credit secured by real estate. Simply using the wrong term may get you denied.