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Updated over 9 years ago on . Most recent reply

User Stats

54
Posts
14
Votes
Yuvaraj Vimawala
  • Austin, TX
14
Votes |
54
Posts

OTP on a foreclosure auction property

Yuvaraj Vimawala
  • Austin, TX
Posted

Fellow BiggerPockets investors,

I recently purchased a SFR in a trustee sale in Texas. The transaction went through fine and I received the substitute trustee deed. I am trying to purchase a Owner's title policy to protect myself, but no Title company is willing to sell me one.

They have  not even done a title search (which I had done myself before buying and there were no defects), but simply refusing to sell an OTP unless I have a bona fide contract to sell the property. Why is this? How can I protect myself? 

Any recommendations on Title companies that would insure foreclosure properties? 

Thanks in advance. 

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