Properties From Banking Institutions via Quit Claim Deed In Bulk.

[Marvin S.]

The properties in this deal were previously owned by the banks, they either foreclosed or deeded in lieu of foreclosure, or whatever instrument, that protected their interest.... They the banks, are the grantor to the grantee as recorded in the county records, who make quit claim purchases in bulk from the bank.

And in most that I have looked at, the bank was the original lender to the previous owner.

My thoughts are, when the lender grants a loan, a full title check was done prior to issuance of the loan on a property. When lender forecloses on said property and acquires the deed, their are no mortgage liens. And more than likely any mechanical liens will be seen to and wiped out.... So basically, any outstanding leins for the new owner will be city, municipal, etc. Yeah, that can amount to a lot of dollars across the banks profit and loss margins.... Perhaps quit claim sales at least clear the loss when they do it in bulk.

These properties are primarily investment properties as is where is, etc., buyer does their own DD prior to contract, and i am in the process of purchasing all that I can

Research has shows the sale of these properties were done by QC or special warranty deeds or whatever appropriate insturment required where purchased.

Can I take faith in the fact that the institutional banks were the intial lenders?