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Updated over 6 years ago,

User Stats

17
Posts
0
Votes
Belinda Steinwachs-Dicus
  • Investor
  • Robards, KY
0
Votes |
17
Posts

Deed in Lieu of foreclosure

Belinda Steinwachs-Dicus
  • Investor
  • Robards, KY
Posted

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 

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