Self closing ....Help

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1

I purchased a piece of property at county courthouse auction for 7800.00
I am selling it for 30k with 10k down.
Do I just need a contract for deed and lay out the agreed terms and conditions?
What do I file at the courthouse?
Florida.

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@mlayfield I’m not that familiar with seller financing in Florida (if anyone else here is, please chime in), but I feel like I’ve heard people say that land contracts aren’t the best document to use in FL.

Again, I don’t really know… you’d have to talk to some attorneys or agents down there to ask them what they usually see, but if could be that a deed of trust is a better option to use. Whatever the case, here are some blog posts that might help you…

https://retipster.com/land-contract-vs-deed-of-trust/
https://retipster.com/closing-in-house-seller-financing/
https://retipster.com/deed-of-trust-closing-tutorial/

3

@mlayfield,
Did you buy a tax lein or a tax deed? i.e. alien for which the two-year redemption period had expired and the tax lien holder applied for a tax deed and auction sale, at which you bought the tax deed?

Based on oyur question, I am infering bought the later, a property sold at a tax deed auction. If so, there are a few things to think about:

  1. The deed you receveid via a tax deed auction is likely a “Tax Deed”, “Deed Without Warranty” or some other form of deed that (like a Quit Claim Deed) provides no gurantee / warranty. Generally tax deeds only convey to you the rights the previous holder had in the property, if any, but doen’t guarantee the previous owner (or you) had/have any rights nor guarnetee the marketability of the deed. I say all this to suggest when you sell, through self closing you seriusly want to condiser only offering a Deed Without Warranty or a Quit Claim Deed rather than any type of warranty deed (e.g. no General Warranty Deed, Special Warranty Deed, etc.).

  2. It is unlikely you or a subsequent buyer will be able to get title insurance if the propery is subsequently sold through a Title Co. sale without some legal work involed to determine / ensure good title. This can sometimes e solved using a service like Tax Title Services [ https://www.taxtitleservices.com ] or via a quiet title action (which usually requires the asssitance of a lawyer).

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