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Updated almost 3 years ago on . Most recent reply

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26
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Allan B.
  • Investor
  • Fort Lauderdale, FL
2
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26
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Miami-Dade/Broward Title Evidence -- what evidence needed?

Allan B.
  • Investor
  • Fort Lauderdale, FL
Posted

I purchased a home through foreclosure through bidding at the county auction. The foreclosure was performed by the first mortgage holder, and the title search is now coming back clear. I've rehabbed the property and listed it. However, all the offers I received have the following statement checked:

Section 9. c. (iii) (CLOSING COSTS --> TITLE EVIDENCE AND INSURANCE):

Since I purchased it through foreclosure and I did not purchase title insurance, how do I go about addressing this? What type of evidence is typically acceptable? Do I need to purchase title insurance for myself so I can sell property due to this provision? How do others deal with this?

Any help will be appreciated.

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

@Allan B. Are you using an agent?  It's simple...since you have no current title policy, either pick 9c(I) where seller pay title insurance, or 9c(II) where buyer pays title insurance.  It's all negotiable.  Dade county is an odd duck when it comes to this language.

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