Quitclaim deed given to highest bidder online auction

[Eric Roloson]

Online auction states they will provide Quitclaim deed. Will a title company even issue title insurance? Would this property even be marketable in 6 months? Is there an efficient process or strategy to protect myself?

Which, if any, encumbrances or liens am I responsible for? JPMorgan Chase forclosure in amount of 160K, a subordinate mortgage of 35k, a couple liens in the amount of $1200 & $1800. Which am I resposible for? Which were wiped out in foreclosure?

Also, it is an occupied property. I would like to get them out ASAP, rehab, and put on MLS in 6 months? Is this possible? This is in Oregon. Can working with a good title company and attorney make this a potential deal? Or is this a recipe for disaster?

[Eric Roloson]

@Kevin Sobilo Thank you for breaking that down and clarifying

@Chad U. Great advice, I did exactly that!

@John Corey Really appreciate your comments, thank you.