Loan on tax sale property
I have bought a hand full of properties in Tennessee at tax sales. In this state when a property is purchased the deed goes into the purchasers name shortly after the auction but there is a one year right to redeem, then the buyer can file a motion to quite title with the court to get an insurable deed. I have properties that have passed the redemption period and are in the process of clearing the title, but that can take 6 months to a year.
Is there a lender out there that would loan me funds on a property before the title is quite? I would like to reinvest some of the profits before the 2 year window. Even if I could only borrow 50 or 60% that would help me speed the reinvestment. If someone would do that what terms should I expect? If not Tennessee, is there another state?
Just a thought.