The Tragic Truth About Tax Deeds (And How to Fix Them) w/ Brenda Flatter | REtipster Podcast 143
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- Опубликовано: 31 июл 2024
- Show Notes: retipster.com/143-bren-flatte...
My Experience at a Tax Deed Auction: retipster.com/tax-deed-auctio...
A Crash Course in Tax Lien and Tax Deed Investing: retipster.com/tax-liens-tax-d...
Join Our Community: welcome.retipster.com/newslet...
Brenda Flatter is the VP of National Sales for US Tax Deed Solutions and Executive Director of National Title and Settlement Services for Title & Abstract Agency of America.
I met Bren recently through a mutual connection, and after hearing about what she specializes in, I thought her services were quite relevant to the world of land investing.
If you've worked as a land investor, you've probably encountered your fair share of properties with a tax sale in their title history.
Tax sales create a problem in a property's chain of title (for reasons we'll discuss in this interview), and US Tax Deed Solutions has an interesting way to solve the problem faster and cheaper than getting a quiet title action.
0:00 - Intro
1:04 - What is US Tax Deed Solutions?
2:26 - What is a tax deed sale, and why does it create a problem in the chain of title?
5:27 - How much does a Quiet Title Action cost?
6:22 - How long does it take to undergo a Quiet Title Action process?
7:53 - How long does it take you to review a case and find a solution?
8:38 - The cost of using US Tax Deed Solutions services compared to a Quiet Title Action
11:21 - In which states do you offer verifications for properties?
12:20 - Is your goal to work in every state, or are there certain states you don’t want to go to?
13:53 - What other services can US Tax Deed Solutions offer?
14:08 - Can you offer a solution for any tax deed in the property's history?
17:47 - Could you resolve a quit claim deed if that caused an issue in the chain of title?
18:59 - Is it bad to use a quit claim deed when I sell a property?
19:32 - What is a clear and marketable title?
21:10 - What is your success rate in verifying a tax deed without needing a Quiet Title Action?
21:47 - Can you determine if a case is worth doing before the initial $350 fee is paid?
23:50 - What would you do if a person wants to use this service but is in a state where you don't service one of the nine states?
25:01 - What is Title Insurance, and what does it protect you from?
27:23 - Do you have to get a title insurance policy if you are doing a flip or double closing?
29:08 - How do you make a Title Insurance Claim?
31:15 - How frequently do you see title issues on an insured property?
34:48 - Title fraud and fraudulent real estate transactions
39:43 - Understanding a State Tax Lien - Do they stick to the property after it’s sold, and how do you get rid of them?
41:39 - How to reach out to Brenda?
I am just now getting into buying tax deeds and Brenda you are exactly the person I need!
Great convo. Super appreciated for addressing so much in this interview. 👍🏿💯👊🏿
Thanks for watching! I'm glad you enjoyed it.
This was the most informative and professionally delivered youtube interview I've heard in a very long time. Thank you so much- and the nugget at the end about IRS liens is so worth it- watch the video until the very end!!
Thanks so much, Richard! I'm glad you enjoyed it.
This is really helpful in defining / explaining the process. Ty for sharing this. :)
Thanks! I'm glad it's helpful.
Fantastic news thank you both for sharing 😀
Thanks for watching!
I just did one if these using another service. I have learned that their are title companies that you can work with directly who will perform their own research and provide an owners policy and close on the sale of the property. That's a 2k additional savings.
For what state, would you mind sharing their info.
Super helpful! I actually just ran into this problem today, I'm going to reach out to their company!
Sounds like a timely episode! I'm glad it helped.
so the way I understand it is your exit strategy can be a Quit Claim Deed if the buyer is willing to assume the risk. But her service offers a possible clear and marketable title that you can then use to ask full market price for ur parcel. Unless im missing something?
Yep, that's the idea!
Do you know any company that can have that done in the Houston (Texas) area?
Great info here
Thanks for listening!
Hi i am In Illinois what options I have if I do win a deed property
I wonder if they are planning on Georgia or could refer a company in Georgia that offer the same service.
some what does your service cost?
I'm confused. If the house is a tax deed or lien, doesn't the county the home is in wipe out all debts on the house so it can be sold?? If I have been listening to a few podcasts, and I keep hearing that once it goes to auction, the mortgage and any claims are wiped so it can be sold.
That's _supposedly_ what happens, but most title insurance underwriters see it as a problem rather than a solution because they can't verify whether all previous owners were properly notified, hence the need for a quiet title action or something like what Bren's company does.
@@Retipster understood. Thank you.
Great information! Thank you. How can i get in contact with Brenda? Can you work on Georgia?
Lots of bad and misleading information in just the furst few minuets; turned it off because her info was so bugus!
Which information are you referring to? Do tell!