Title Insurance on a Property Bought at a Foreclosure Auction
Hey guys,
Has anyone tried getting title insurance on a property they bought in a tax or mortgage foreclosure by a quit claim deed? If so, who did you use?
The response I got in my area is that title companies won't insure title on such a property until the new owner holds it for 1 or 2 years after purchase. Has anyone been able to get title insurance sooner, specifically in New York State?
The intent behind the question is either a bank refinance or a re-sale to a buyer using conventional financing (i.e. both of which require insurable title). Thanks!
Vitaliy