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Updated almost 9 years ago,
Selling Tax Deed Property in Florida
Hi,
My question is, is it legal in Florida to sell a tax deed property of vacant land, using a Special Warranty Deed, without title insurance, along with a First Money Mortgage Deed immediately after purchasing it at a tax deed auction? I understand title insurance is not necessary unless the buyer demands it or it is going through a bank for financing but I just want to make sure that I am not breaking any laws if I sell the property this way, within the two year term that I bought it, with owner financing.
I was with the understanding that a Florida tax deed property could not be sold for two years after purchasing it. Do I have that wrong? Or is it okay to sell it but I just wouldn't be able to get title insurance unless I had a Quiet Title done or hired a Title service? Also, is a First Money Mortgage deed the best deed to use for the owner financing part?
Thank you.