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Tractor Talk Discussion Board

Re: OT---buying foreclosures


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Posted by Mike (WA) on October 03, 2010 at 08:54:23 from (69.10.196.7):

In Reply to: Re: OT---buying foreclosures posted by George Marsh on October 02, 2010 at 17:28:54:

Well, as long at the local title companies keep steering their title problems to me, I'll be happy.

You were the buyer- of course you didn't need a lawyer. Sounds like the seller (bank) had a lawyer, and I would imagine he worked with the title company to make sure title was good. Its up the the seller to clear title, because buyer will just walk away if title isn't marketable.

Would have to know the circumstances of the lien (not lean) that came up later- but you had title insurance from the title company, so they stepped up to the plate and paid it, as they are supposed to.

I get a couple cases a year where somebody "saved" a couple hundred bucks by home-brewing a deal on the hood of the pickup, and it was now going to cost them a couple grand to fix it. Avoiding lawyers in every circumstance can be hazardous to your wallet- hope it works out OK for you.


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