Option to offer, to investors & discuss in S.C. property

[Doug F.]

I am new to here, but an investor for past few years and have found some properties in SC in a golf community for whick i have purchased at foreclosure tax sales and now wanting to offer them.

My idea is to offer them at 40-50% below market value so there is a good deal for an investor, since these times are difficult.

My plan is to offer these lots as a purchase option (1 year from now) since i dont not have clear title yet. The lots (non golf course lot, non lake lot, but nice interior wooded lots 1/3 acre) are valued in the range of $25,000 to $45,000.

I would sell the lot via land contract at a set price $12,000 - $25,000. The buyer would purchase the option for an agreed amount now - approx. $3,000 in an escrow, and would be credited at closing in one year, as the down payment.

I would then finance the balance for a 5-10 year period.

Should I not be able to provide a clean title or have possesion of the property (couple of these lots I will be purchasing at a tax sale and the deliquent owner has one year restitution period). I will refund all but $400 of the down payment.

Thank you

DF