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Some Questions
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Posted by: Chris Pryor ®
01/15/2003, 19:37:53

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1. Please describe the writ of possession process. I gather that the writ of possession should be filed right after the tax deed has been purchased. Is this correct? Also, what does a writ of possession cost? Most importantly, assuming the occupant does not redeem the property, how much time should I expect the sheriff's office to take to complete the eviction?

2. You mention that "The biggest issue I think is the inspection of the property and trying to clear title." I can imagine that the inspection of the property is a big issue, but why is clearing title a big issue? It seems like the process of hiring a title company to perform a title search as part of one's due dilligence (and only buying deeds with clear title), then completing a suit to quiet title if the property goes unredeemed and finally getting title insurance is all pretty straightforward. Is there more to it that I'm not aware of?

3. Can you give me a rough formula for how much money I should factor into the over cost of doing business for short term homeowners insurance in Texas? That is, roughly what percentage of the appraised value of a property should I expect to spend on a short term homeowner's policy? Take your example of a property with a $40,000 market value. Roughly how much would a short-term Texas homeowner's insurance policy cost?

4. Are there any other forms of insurance that I should purchase when I buy a tax deed?




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Re: Some Questions
DariusBarazandeh 01/15/2003, 20:42:44 2390 bytes link


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