How to get title insurance fast on a foreclosing house?

Question

So I get a call today from someone that wants to sell me their house. The challenge is it is supposed to be foreclosured this coming up Tuesday. This is Tuesday evening and I will meet them tomorrow which is Wednesday. The numbers work, But on this particular house I would like to get title insurance. Has anyone cross this bridge before?

Account Closed · Answer

@Joe S. You need to talk to your real estate lawyer and title company first thing tomorrow morning. I have good recommendations for both for Comal and Guadalupe counties if you are interested.

Grigory Pekarsky · Answer

Getting title insurance on a foreclosed house is not as easy as it sounds. When you purchase a foreclosing home, the bank or lender will be in charge of selling off all of the assets and debts that were left behind by the previous owner. This means that getting your hands on clear title can be difficult. Reach out to the real estate lawyer to find the most effective solution.

Joe S. · Answer

So word came back from the title company Friday that they needed to get to probate documents from the courthouse. They then went on to say that the people working at the courthouse were really busy and it might not be able to get them in time to Get a title commitment in time to stop the foreclosure. Whereas this was an inherited house and there were several siblings I do not feel comfortable buying the property sub2. My plan was to pay the property off, but I need a title commitment to move forward. Has anyone been successful with communicating with a lender to post pone a sale in order to get title work in?

Joe S. · Answer

I’m very interested in both of the counties you referred to. Property is in the Bexar though. The title company I typically use I have never had them get a title commitment back that fast. I would be very interesting in making a new connection if you have a title company that’s fast when needed. I typically have not rushed a title company and have given this one a lot of business in the past.