Auction with Lis Pendens, and an "Insurable" but not "Marketable" Title. What to do?

[William Murrell]

Good evening!  There's a house near where I have my current rental that has gone up for auction on Homesearch.com   The start price is low, it's already auctioned twice and finished with a hell of a deal but no reserve met, and perhaps it will this time as well.  If I could get it for a reasonable price, it would fit right into what I'm looking for.

According to the LA, the auction will give you a SWD and an insurable but not marketable title.  When you look at Zillow, it mentions there was a Notice of Lis Pendens given.  So let's say you were interested in this property, but not terribly interested in grabbing a tiger by the tail, what would you do?  I've never dealt with this before, but I'm guessing the safest route is to get a title co. to run a title search and see what clouds there might be on the title and then that will hopefully tell me all of what could go wrong from a lien standpoint.  From there I should be able to tell if the property is worth the hassle, correct?  I like the idea of getting a house for 20-30k off, but I don't like the idea of buying a headache.  Any advice or guidance would be greatly appreciated.

[David Sicherman]

@William Murrell Yes, however many investors pay for just a lien search not a full title search before signing a contract as companies that do initial lien searches are much cheaper than running a full title search and finding out there's an issue when you are already at or near closing date.