Subject to: title company won't issue title insurance
I got a potential subject to deal but when I talk to title companies, most of them won't do it because of the "due on sale" clause on the exiting loan.
Only one title company I talked with said they can do it but won't be able to issue title insurance. They will need the lender's agreement to do be able to insure the title. I guess my luck of getting the lender to officially say yes it close to none.
I am wondering which title companies / real estate attorneys that investors in the Washington State, especially in the Seattle area, have used for subject to transactions? I've call all the big ones (Chicago, First American, Fidelity, Old Republic, Ticor).
What's your thoughts on proceed without title insurance? Many title companies I talked with can do a informational title report looking for liens and judgments for a small fee. Is that report sufficient to guarantee a clean title?
Any suggestions will be appreciated!