Would you buy a wholesale deal with no title insurance ?
Okay guys Now I NEED Some Advice....
There is new construction all around the property comps are great new construction wood frame houses are selling for 120 to 130 .
This property is a full rehab with about 30k needed
Its on 2 Lots so you can actually split it and double your return profits build on each lot.
The owner has general warranty deed, however the title company wont give me title insurance because a break in the chain of title from 40 years ago.
Crazy!!!
I do not have time to send this owner to the judge to have the break in the title cleared. Its 40 years ago. The goods news is the investor will have general warranty deed just no title policy issued at closing.
Would anyone still purchase this? My first time in this type of pickle.
Let me hear from some other investors opinion