I learned something new.

[Rex King]

One of my goals is to get on BP everyday (one day to be on a podcast on here too). I just read the headline of "Bought a house on Hubzu-Success". If anyone is going to do this please keep reading.

We have bought numerous homes on auction websites. The last one has been pushed back since October. We will close tomorrow morning. Here was the dilemma. We would told if we use the sellers title company they will pay for our title insurance. I recommend getting title insurance especially in bank owned properties. 

The sellers title company almost blew the transaction up so we as the buyers moved to my closer who has closed everything for me. She found that title was not clear and there were 2 lis pendens on the property. Long story short I was driving around to federal, yes FEDERAL court, to buy certified court case documents so we would be able to close.

Please if you buy a bank owned, especially auctions, make certain you have a reputable title company you trust. This almost mistake could have cost me $550k if title was not cleared.