I bought three lots from the State of Arkansas in Holiday Island. We did our research – there is a POA fee but that is ok. Anyway we got the limited warranty deed from the state on each property then several weeks later I received a letter from Holiday Island suburban improvement district saying that they foreclosed on these properties in 2014 for delinquent assessments (the state took the land for back taxes in 2007) and in order to clear the title I will need to send them a cashier’s check in the amount of $1500.00 for each lot and they will have a quit claim deed prepared in my name. I call them to inquire about this and they told me that it was a very good deal and their lawyer would fix it up as soon as I sent them the money. There is not a lot of room in this deal. I was wanting to sell them for no more than $2000, so I started doing some research into the quit claim deed. It looks to me like all I would need to do is an Arkansas quit claim deed in Deed Perfect, both parties sign and notarize it, then I would file it with the county, without having to use a lawyer. Has anyone ever does this? Please give me some help on this one.
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