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Updated almost 5 years ago on . Most recent reply

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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
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REO cannot get title insurance

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

I have come across and REO where the previous owner still resides in the property. I guess the bank never evicted them. Either way the bank is trying to sell it with the people in there. I was told I would not be able to get title insurance for a situation like this which seemed odd. Anyone else ever come across an REO where you cannot get title insurance because the prior owners still live there? Do I need title insurance if the rest of the title is examined by an attorney and looks good?

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Rich Hupper Shouldn’t make any difference. 
@Account Closed I have no idea what you're talking about....almost Every REO is sold with title insurance. It has nothing to do with the seller "never having lived there".

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