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Updated about 6 years ago,
Looking at online auction. Pay for title search before bidding?
I am looking at a property in an online auction at Hudson and Marshall. As I have only done 2 deals so far through a realtor that were both from the MLS, I have zero experience with online auctions and do not know what to expect.
My biggest fear is regarding the title. How do I know if the house has clean title? If that involves paying for a title search, should I do that before even placing a bid? What kind of title search and how much money am I looking at?
The listing says that "Buyer has the option of obtaining a Special Warranty Deed(title insurance required with Special Warranty Deed, at buyers expense.)"
I emailed the county recorders office and she says "I show a Sheriff Deed that was done Oct 5, for $110.250 to JPMorgan Chase Bank.
Do either of those point to a clean title?
I am scared to even make an offer as I am so unfamiliar with the process but it is in a neighborhood that I like and already own a rental in, would like to continue purchasing in this area.