questions about delinquent tax sale properties passed redemption period

[Yanfeng George Li]

Hello!

I bought vacant lands via delinquent tax sale auction in Tennessee. The one year redemption period already passed, now i own these properties (already registered in the county).  I plan to sell these lands, my question is, is selling with QuitClaim deed a good option? I think to convert the title to warranty title would cost thousands dollars and takes a long time, i don't want to go this direction. Also, where/how to find wholesalers? 

Many thanks!

George

[Sarah Ware]

Quote from @Yanfeng George Li:

Hello!

I bought vacant lands via delinquent tax sale auction in Tennessee. The one year redemption period already passed, now i own these properties (already registered in the county).  I plan to sell these lands, my question is, is selling with QuitClaim deed a good option? I think to convert the title to warranty title would cost thousands dollars and takes a long time, i don't want to go this direction. Also, where/how to find wholesalers? 

Many thanks!

George

George, in East Tennessee, you would need to move to quiet the trustee's deed to get full resale value and that usually happens after 3-5 years when they are reasonably sure no one will immediately challenge. Most successful through a lawyer and costs roughly $5k.  If you get a QCD from all known potential heirs (even though you already own it) that process can usually happen quicker.  This is the fastest way if you are not buying and holding-and sometimes includes a nominal payment to heirs just to speed up the process.  Giving a couple people $1000 each for their signature is much more valuable than waiting out the time to Quiet.  I'm not a lawyer-get your own advice, just was aware of client several times doing same process.  Good luck!