Click here to download the PDF of the flow chart used in today’s show.
Disclaimer: We are not legal, real estate, or tax professionals. This show is not a substitute for professional advice. Today’s episode is a conversation to help you take greater precautions and avoid the pitfalls of buying a lot inside Hot Springs Village, Arkansas that doesn’t have a clear title. As always, buyers should beware!
Here are some important things buyers can do to protect themselves: 

* Make the purchase only through a legitimate title company
* Do not send the seller money directly
* Get a legally clear title by having a title search done and get title insurance


0:05
Hey, it’s another episode of HSV inside out with my co host, Randy Cantrell, and my good friend, Mr. Jeff Adkins. This is going to be a special episode. And we want to cover some things basically as kind of a consumer information. FYI, Jeff, come in there. What are you thinking?
0:24
Well, we’re talking about buying tax, deed sales or tax sell lots in hot springs village. It’s something that you and I have a lot of experience with over the years, and we hopefully we can educate the public a little bit on what goes on, and the recent Pewaukee action to purchase a bunch of lots from the Commissioner of state lands, maybe why that was done, and what’s the what the future holds? Yeah, and what consumers can do for themselves. Randy, what does this look like from the outside? What do you see this as just a? Well, obviously, the three of us have had some, some conversations. And prior to that, I absolutely knew nothing. So I’m kind of happy that we’re doing this disclaimer. None of us are attorneys, you know, I don’t have a real estate license. And these we’re not talking about homes being sold. So proceed at your own at your own risk. But I think it’s great. Because, as you guys have kind of taught me offline from this show. Yeah, the pitfalls are very real. So there’s no question that I think, buyer beware, buyer beware. And it just dawned on me, Jeff, between us we have roughly 40 years we met and a lot of people don’t know this, we met competing against each other. And we were bidding against each other and whatever. And we had a lot of lessons to learn, I think would be a fair way to put it. And I think that this information, although not professional information, we are not professionals in that way. I’m not a licensed professional or a licensed broker or licensed real estate. But over the days, I bought and sold over 250 lots I’m sure, Jeff, your numbers very close to that too, I would assume. Yeah. Mostly blank. Yeah, mostly.
2:12
I think a lot of people I think more than one realtor, Jeff has told me a collector. So let’s just leave it at that, shall we? Yes. Well, but to be fair, to be fair, I can almost guarantee there are people in the audience much like myself that don’t even really may not even really know the proper questions to ask and the proper things to just the pitfalls that absolutely could make a dream go south really quickly. It really could. And, Jeff, I think we need to address the elephant in the room here. And that is a lot of times people will say, Well, I can go get up a lot at the county for $500. How long ago did they quit doing that, Jeff? Oh, that was back in 2009. or so. That’s been at least a decade. You know, those were pra foreclosure auctions, those were pa initiated lawsuits, to get back lots that the owner had not been paying their assessments on. Those carried a one year right of redemption for the prior owner. But they were good titles, because they were judicial foreclosures after that one year.