Marked-up title insurance commitments

[George Formento]

I have the opportunity to do a deal where I will be able to buy a property at a reduced price only if I make it happen within the next 2-3 days. My problem is the following: The seller bought the property from HUD and recorded it yesterday. It will take a couple of weeks to show up as recorded so that my title company may run title. I was told that I may purchase it using the title company that did the first closing to do my closing and that they can issue me a marked-up title insurance commitment.

Will this safeguard my investment?

When preparing the marked-up title insurance commitment is there something I should keep my eyes open for? What needs to be included in this commitment to safeguard against anything that could possibly show up in the gap and bite me later?

Thanks!