Auction Property in Iowa
I am in the process of buying a property through auction.com in my area. I am told that they wont have an abstract for the property. How big of a deal is not having the abstract? Will that present problems if I choose to sell the property down the road? If I have title insurance, will that cover me? I am assuming I would need to pay for an abstract if I end up selling to a buyer that needs to finance the property. Is that correct? Finally, how do people deal with not having an abstract when buying at the sheriffs auction?