Also, you should have a title company complete a title search for you, in such, you can obtain title insurance and later sell it with a warranty deed.

This isn't my primary job and I use real estate to supplement my other investments.

Typically if "everything" is new, you shouldn't have problems (and hopefully any issues will be warrantied), but drainage doesn't usually get addressed unless there is an identifiable problem.

Each lender may be different though and they may not like even 1 or 2% if the house is cheap (like the other poster mentioned). it still has to appraise as well (for a loan anyway). when i represent buyers i try to get seller to pay for more of them and also a home warranty.

I prefer to always have the broker turn funds over to the lawyer as soon as the lawyer gets involved, for many reasons, one being that lawyers are held to a higher standard as escrow agents and there is a lawyers fund for any issues, plus E&O insurance, but if the title company is a national underwriter (like Chicago Title, Fidelity National, Old Republic, First American) or an agent that you have heard of and is reputable, then I wouldn't object to that either.Again, as to whether a wholesaler needs to hire a title company, completely depends whether you assign immediately after the contract is signed with seller, in which case the liens are not your problem and you can't be in legal trouble, you make no reps or warranties and inspections are the responsibility of the end buyer, or if you assign at closing, and then you would be responsible for clearing title in advance of closing and should order a title report right away. 

It is a general warranty deed sale, not a land contract, so title transferred at time of sale.

If I'm reading them right, I can win the auction, order my own title insurance, and THEN either cancel the purchase in case of undisclosed defects or get a special/limited warranty deed from the seller.

If I'm reading them right, I can win the auction, order my own title insurance, and THEN either cancel the purchase in case of undisclosed defects or get a special/limited warranty deed from the seller.

Also a side note- I have a home warranty on my main residence.

Do people buy new with a warranty or used and dump them when they break?