No title insurance for wholesale deal
I'm looking at a deal where the wholesaler is saying he cannot guarantee a clean title. Apparently he purchased at a tax sale. How would one proceed with a deal like this with the risk that the title is not clean? I always thought verifying clean title was part of the closing.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
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You have to understand what title from a tax sale means......it can mean tons of different things in different situations...redemption period, proper sale, proper notifications, etc.?
In general, it’s probably garbage if they are offering what Seems like a good deal. You can find all kinds of garbage tax title properties on EBay, the seller’s trolling ground for suckers.