We PAY more than $500 in listing fees for this ACTIVE EBAY AD and for ONE Reason Only, to PROTECT the NEW or LESS EXPERIENCED eBAY Florida Land Buyer who is seriously interested in a PORT CHARLOTTE FLORIDA LOT/LAND eBAY ACQUISITION from a SELLER who requires the BUYER to PAY for the parcel before offering TITLE INSURANCE and who is NOT offering TITLE INSURANCE at CLOSING (through a 3rd party CLOSING AGENT).
Excerpt from the Charlotte County Clerks Office on Tax Deeds:
Do I get a clear title with a Tax Deed? All properties sold at a Tax Deed Sale qualify under Buyer Beware. The purchase of a Tax Deed Sale does not warrant or guarantee clear and marketable title. Take Note that most title companies require the property to go through a quiet title lawsuit for the property to be able to have title insurance issued on property bought by Tax Deed Sale.
What liens or encumbrances survive against a property after it is sold at a Tax Deed Sale? Governmental liens and judgments survive the issuance of a tax deed and are satisfied to the fullest extent possible with any overbid monies from the sale. Governmental liens, not satisfied in full, survive the issuance of a tax deed and will remain against the property.
NOTE: YOU, the Buyer, or FUTURE OWNER cannot get a BANK FINANCED LOAN TO BUILD ON ANY TAX DEED LOT WITHOUT first obtaining
TITLE INSURANCE but Beware, because even then
Often these sellers will offer Title Insurance but with Exceptions to Coverage in your
Title Insurance Policy. There are standard exceptions in every policy, BUT exceptions entered for tax deed sales are UNIQUE AND PARTICULAR and are NOT STANDARD.Carefully review
exceptions in Schedule B2 of the title policy to ensure you know which items
are exempted and therefore NOT COVERED by the Title Policy.
WITH THESE TITLE INSURANCE POLICY EXCEPTIONS, BANKS WILL NOT LOAN TO BUILD ON A TAX DEED ACQUIRED PROPERTY.
DO NOT agree to BUY or PAY for ANY REAL ESTATE without THE SELLER FIRST PROVIDING Title Insurance BEFORE FINAL Settlement Payment at CLOSING. Request that your closing agent or attorney explain any exceptions noted in Schedule B2.
Before paying or closing such a parcel, do YOURSELF A FAVOR and CALL your TITLE COMPANY, local LAWYER or REAL ESTATE ATTORNEY and ask for PROFESSIONAL ADVICE before Acquiring any FLORIDA LOT when the SELLER DOES NOT Offer TITLE INSURANCE or OFFERS TITLE INSURANCE WITH NON-STANDARD EXCEPTIONS NOTED IN SCHEDULE B2. Ensure to get your answers PRIOR TO settling the purchase. Be informed and make the right decision for your situation.
As Successful eBAY Sellers who specialize in PORT CHARLOTTE LOTS for more than 10 years, we are here to stay and we are committed to educating our clients. Our two Companies have a VESTED INTEREST in ensuring
1. That serious or potential Buyers are NOT mislead when considering a Purchase for immediate use or for Investment purposes and 2. That an informed and safe Market is maintained on eBAY to facilitate the conduct of sincere and reputable business processes.
Over the last several years and more specifically since the recent economic downturn, we have seen a rash of wrongly informed BUYERS acquiring $3000 - $6000 Low End Lots on eBay; these lots are often TAX DEED LOTS acquired at local Tax Deed Sales for less than $2000 and do not have a MARKETABLE, TITLE INSURED DEED. Many of these Sellers go to a TAX DEED AUCTION for only one REASON. A quick Buck, while offering TAX DEED LOTS that are generally INFERIOR in QUALITY and surrounded by POORLY PAVED ROADS. Even if the roads are paved and appear maintained, many such lots are surrounded by SMALLER OLDER 1950's Style HOMES that make for a very DEPRESSED NEIGHBORHOOD ENVIRONMENT and a LOW RESALE VALUE. The other scenario is that NO HOMES at all are build around these lots and these lots are located in UNDEVELOPED SECTIONS of the County. As a result the County DOES NOT regularly MAINTAIN existing ROADS.
Also, buyers should ABSOLUTELY ensure that the considered parcel IS NOT located in an ENVIRONMENTALLY SENSITIVE SCRUB JAY bird area. Often these lots require very EXPENSIVE SPECIAL PERMITTING and in many cases cannot be build at all. ALWAYS ask if the lot you are purchasing is situated in an Environmentally Sensitive Scrub Jay area. MANY Lots in Port Charlotte CANNOT be build on for this specific reason.
BEWARE of the SELLERS who purchase lots inexpensively at Public Tax Deed Auctions and DO NOT Disclose this information when advertising and selling these LOTS on eBAY. In MOST INSTANCES, the BUYER must then pay THOUSANDS OF DOLLARS IN LEGAL FEES to complete the SUIT TO QUIET TITLE process that can last up to a YEAR to CLEAR the TITLE; if such Title can be cleared at all.
We are seeing many HORROR STORIES where INEXPERIENCED REAL ESTATE Buyers on eBAY subscribe to this recent QUICK BUCK TREND, BUYING & SELLING TAX DEED TYPE LOTS.
How Do I Know? You will know when a seller offers only a Special Warranty Deed or a Quit Claim and no IMMEDIATE Title Insurance to protect YOUR investment.
The SELLER states that TITLE INSURANCE is available ONLY at YOUR EXPENSE and must be purchased AFTER the SALE is final. BUYER BEWARE, DO NOT believe it.
SOME of these recent and mostly FLY BUY NIGHT SELLERS who are relatively new to eBAY REAL ESTATE are not creditable and have NO INTENTIONS to become LONG-TERM eBAY SELLERS. Very unlike our two companies who have been successful eBay Sellers for more than 10 years. These SELLERS often offer these questionable lots with a FULL WARRANTY DEED; But, DO NOT OFFER TO PAY THE $500 to $700 IN CLOSING COSTS through a 3rd party reputable TITLE COMPANY. Nor will they offer TITLE INSURANCE paid by the Seller, due to a POTENTIALLY NON MARKETABLE TITLE. Such Sellers will INSINUATE in their AUCTION DESCRIPTIONS that such lots are FREE AND CLEAR LOTS. But they ACTUALLY state the unknown; Ask the Seller to provide you the Buyer with FREE TITLE INSURANCE; they will NOT and CANNOT do so. BUYER BEWARE. NEVER PAY FOR a Land purchase prior to Closing. Settle only through a REPUTABLE 3rd party TITLE COMPANY and after a FULL TITLE SEARCH is completed PRIOR TO CLOSING on your purchase. If the Seller wants payment directly to them or if the Seller is the one who records the sale at the CHARLOTTE COUNTY COURTHOUSE, again BUYER BEWARE, this might be the sign of a non marketable title.
Our foremost goal remains to educate the eBAY Buyer and explain the potential RAMIFICATIONS when purchasing lots WITHOUT TITLE INSURANCE; when purchasing from SELLERS who are NOT WILLING TO BE UPFRONT and who DO NOT EXPLAIN the POTENTIAL RAMIFICATIONS. Many such SELLERS require full PAYMENT before the BUYER has a chance to contact a 3rd party TITLE COMPANY to complete a $100.00 TITLE SEARCH to provide safe TITLE INSURANCE. YES, the truth is that the average TITLE INSURANCE POLICY Fee is only $100.00.
Make it a PRACTICE to READ the ENTIRE AUCTION and the FINE PRINT VERY CLOSELY to determine the type of DEED offered by the Seller and to learn if the Seller CLOSES through a reputable 3rd party TITLE COMPANY at SELLER EXPENSE and if TITLE INSURANCE is provided to the BUYER PRIOR to CLOSING.
BUYER BEWARE Make it a Habit to be Informed
Environmentally Sensitive - Cannot be build
Take another look: Sellers likely offer "Title Insurance with Tax Deed and Environmentally Sensitive Lots." In all or most instances, Environmentally Sensitive Lots are not buildable - no matter how beautifully or perfectly located . Just as with Tax Deed lots (or a combination of the two situations): thorough research is recommended to protect the buyer's interests.
Our Properties are guaranteed Non-Scrub Jay Properties!
Click on the Smiley Image Below to access the Charlotte County Government Scrub Jay Search Site.
Proudly Selling Selected Lots in Charlotte County for More Than 9 Years!
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