Updated about 12 years ago on . Most recent reply
Buying Foreclosed Property with Unclear Title
I'm interesting in bidding on a foreclosed property with auction.com. What I need to prepare for as far the unclear title?
From what I can read on the internet I want to obtain an owner's title insurance policy. I'm planning on working with a real estate attorney.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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Yes. But, your attorney can't "clear everything up" after you buy. He could, but it may cost you $100k to do so. The title search will tell you what will be left to "clear up", and if it makes any sense.