Marketable title vs Insurable Title

[Matthew Thomas]

Hi All,

I've got a freddie mac REO under agreement and in the P&S they state that they would only provide an Insurable title.

My lawyer brought this up as a concern but thought that if it came back with a clean title search it wouldn't be an issue going forward.

I am 2 days in the 10 day inspection period and expect to get the title search back by the end of this week.

Should I be concerned even if the title search comes back clean?

[Tracy Royce]

I'd get the title officer to put a rush on the report, first. I'm in a title state and deal with pre-foreclosure but found a couple good links you might find helpful

http://www.pitnickmargolin.com/reo%20marketable.pdf

http://www.thebestclosings.com/blog/2012/06/26/marketable-title-vs-insurable-title/

PS I have no affiliation to these companies and none of the information is to be taken as legal advise; I'm not an attorney and any and all due diligence is up to you! :)