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Updated over 6 years ago,
Deed in Lieu of foreclosure
I posted a blog about 7 days regarding foreclosure vs deed in lieu when a borrower is in default. In my case the borrower has agreed to a deed in lieu of foreclosure. I was advised (and so gratefully appreciative of advice) by a Bigger Pockets blog member to make sure that the deed is free and clear of any liens.
Since that blog the borrower has accepted a deed in lieu of foreclosure. Do I need to have a title search conducted or will the paper work drawn up by the attorney state that the deed must be a free and clear deed?
Thanking you all in advance for your answers.
Belinda