Updated over 5 years ago on . Most recent reply
Winning bid at foreclosure auction question
I was the winning bidder on a HOA foreclosure (2nd lien). Property has a 1st mortgage (also filed in forclosure). I received the certificate of title from the clerks office. Can I get (or need title) insurance ?
Does certificate of title allow me access to property now?
Most Popular Reply
Generally you can always get title insurance, the problem is what exceptions to coverage will appear in the policy. For example, in your situation, I would expect a policy would except the prior mortgage and the foreclosure suit from coverage. Did you get a title search prior to purchasing? Are they a policy issuing agent for a title underwriter?
As for as gaining access, I'm not an attorney and you may want to get a legal opinion before drilling the front door lock, but I've bought property at HOA/COA sales and have accessed the property immediately after the CT is issued. I check as best I can to make sure no one is occupying the property before I do so though.