What should i know before buying from bank owned properth

[Jon Segura]

Hi guys am new to purchasing REO property do you guys have any suggestion?

Should i go with my own title company to check status of property?

Surely would like to hear from you guys.

[Blair Poelman]

Many financial institutions "require" the use of the title company of their choosing.  But as a buyer you have the right to close your side of the transaction with whatever title company you want.  In my home state when there is no financing (rather, only an owners title policy is issued, and no lenders policy) it is state law that the buyer chooses what title company to use.  These rules and laws vary by state so check with your title co, but It's always a good idea to work with people you like and you trust - so let the seller use whoever they use, but close your side with your own title co.