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Updated about 9 years ago on . Most recent reply

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280
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Jordan Archer
  • Rental Property Investor
  • Stuart, FL
68
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280
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Situational question on a warranty deed

Jordan Archer
  • Rental Property Investor
  • Stuart, FL
Posted

Hey BP,

I'm trying to buy on auction. I want to make sure title is clear. I see that the last time the property was sold to the current owners (who are now losing the property to auction), a warranty deed was used. 

Does this pretty much mean that there is clear title on the property? 
If no, why?

Thanks,

Jordan

Most Popular Reply

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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
3,548
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3,866
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Rick H.#4 Marketing Your Property Contributor
  • Lender
  • Greater LA/Orange County area, CA
Replied

Nope. 

You'd like to think the warranty would give you clear title but at a foreclosure or similar auction, you're buying the right, title and interests that existed when the collateral was used for the loan. 

May not be an issue, but why risk it blind?

In essenence, you must do your own title research as once you buy it, you own it, including any problems associated. 

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