County Held Foreclosure Auctions - Title Searches?

[Jay Patel]

Hey BP,

For those of you purchasing foreclosed homes through a county held auction, are you running title searches on each and every home you intend to bid on?

I am considering purchasing from auction but don't want to get burned by buying a second lien or purchasing a home with future title issues. Doing a title search on each home would be very expensive given the auction could be canceled (plaintiff files for bankruptcy), you loose the home to another bidder, the reserve price announced shortly before auction is too high etc. 

Anyone have any ideas?

Thanks!

[Wayne Brooks]

Also, the other investors hope you blow your wad on a bad deal......then you'll go away, less competition.