Liens that do not show up until after closing
I have a property in a tough area under contract, and my attorney has told me that occasionally liens on the property may not show up for 3-6 months after the close of the property, which would leave me (or my llc) responsible for said lien.
I would think that this would be the purpose of title insurance and that this would be covered in the title policy, however my attorney is unsure that they can guarantee things after we have closed
I am waiting on the title co to confirm that any liens that pop up would in fact be covered by their title insurance, but I wanted to hear if any other investors have heard of this or had any experience with these issues
I am planning on buying, rehabbing, renting out, and refinancing. I need to be able to refi to pull cash out for the deal to be worth while. Also do not want to get stuck with someone else debts