Otherwise, doc stamps are 0.7% of the sales price, title insurance 0.55%, plus $4-600 in settlement fee, title/city lien search, recording, misc. fees.Doc stamps, title insurance and estoppel fees are typically the seller's expense (in Broward typically the buyer pays title insurance).

Essentially I would pay out of pocket for the front end costs and then when financing is in place I would recoup that money as part of the overall $3.6mm loan with my land as 1st lien collateral.

If the house in foreclosure then the likely first lien holder will be the bank.

Also, check the land records to ensure there are no liens on the property as well, so you're not wasting much time with the seller if you'll end up having to pour money into the property.

@Michael Noto outstanding value-add service!

You can try to  purchase a place on your own, either through the MLS, directly with a seller, or through the tax lien/foreclosure process. 

No more liens on the property but also no more warranties.

I think they do a fair share of easy ones but on occasion they get one with several refis, liens, etc...that may take some time.

Issue is a bank will want your family on the 200k to be subordinate to their lien for first position if the bank agrees to it at all.

Some prohibit any additional liens on the property.