Another title insurance question

[Joe Henderson]

We have placed a pre-auction bud at auction.com and have a title insurance question. Reading a lot of posts have not answered ours.

Auction.com states: "Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typ...").

The 'if' in there is worrisome. If I understand correctly title insurance is bought at closing usually through their (auction.com's) title company. Seems pretty obvious a buyer would like to know the answer to this 'if' before the last minute and preferably before handing over any money. If title insurance cannot be bought then a quitclaim deed is given- not very appealing to me.

Can someone school us a little on this and what steps we should take if our offer is accepted. It is Dekalb County Georgia and a cash sale.

[Wayne Brooks]

From my experience buying auction.com properties for clients, 6 of them, the "if" has never been an issue.  Most definitely use Your title co. though, even though they will pay for it if you use their title co.  The reason being is that their title co. usually does not search for non recorded debts/liens (code violations, utilities, etc.) and if they exist, they are excluded in the "B" section Exceptions.....plus they charge additional closing junk fees which make it just about a wash.  My experience has been that if they can Not deliver clear title, your EM is refunded.