Title Question

[Steph C.]

Hello,

I noticed a listing for a property that is in a great location but at a super cheap price. It's been listed about a year and is an REO.

However, here's what the listing says.**cash only, (no bank financing)please note only insurable title will be given* title conveyed is insurable, and not marketable, seller is offering indemnification letter.

Any idea how this could impact the purchase?

I've been reading some info about insurable and marketable titles, but I'm not sure I clearly understand the difference and how it would impact a person if they bought the property and tried to re-sell it. Shouldn't the lender clear the title in order to sell the property?


Thanks,
Steph