Flipping a CWALT Property

[Doug Mishler]

Hello All,

Found a property I'm interested in buying to flip. While searching public records on the property I found out the following.

House was bought in 6/2006 by occupants for $250,000 and shows Warranty Deed.

House was Foreclosed and is now held by CWALT with a Certificate of Title showing an acquisition cost of $48,300 and is listed for $124,000.

House is vacant and does need some heavy renovations therefore I doubt anyone will pay the $124,000.

My questions are these:

What does the $48,300 shown on the Certificate of Title represent? (back interest, paper purchase, just an arbitrary number?)

Will Title Search/Insurance allow me to be able to sell home with a Warranty Deed?

Thanks,

Doug