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Hen Ley
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109
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Title company won't provide commitment for auction property-

Hen Ley
Posted

There is an auction coming up for a foreclosure property-  The property has not yet reverted back to the bank, so the outcome of the auction will determine whether it does or, instead, is purchased by a third party.  I'm interested in bidding on the property, however, I've reached out to two different title companies to perform a report prior to the auction and both have said it isn't a property they would provide insurance for due to issues they discovered.

Is there any work around for this?  It would feel reckless bidding on a property anticipating I could not insure the title, but it also seems like  a potential opportunity missed not to bid...

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Replied

That's a bit odd. Did you receive the exam that shows the issue, or did they decline to simply perform the search? 

Even if they will not unsure it, you should have been able to order an exam. Very strange to me. 

I'm a title examiner. 

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