All Forum Posts by: Jordan Kim

Forgot to mention....Please do know the difference between "insurable title" vs. "marketable title" before you bid, since Auction.com will only give you "insurable title".

But there are a few good deals....although it is getting harder and harder to win one....

I've purchased from Auction.com and Hubzu.  Some of Auction.com reps do not know what they were doing, and EXTREMELY difficult to work with when things need little extra attention.  I strongly recommend to do the title search yourself (I mean your title co), and get a title insurance.  They only provide a quit claim deed or equivalent.  And "quit claim deed" isn't much of anything.  

I have heard some horrible story about using Auction.com when it comes to problem with a title/deed situations.  I will be very careful before jumping into it blindly.

@Andy Grubbs I got the same letter a few days ago, and had same question as you were.  Glad to find out BP members seem to know about them.

Well, conflict of interest can be a problem.  Some states allow listing agent to represent both seller and buyer, some don't because what may be beneficial to seller is not necessarily beneficial to buyer.  Therefore you preferably want to have your own buyer's agent looking after you.  Not the seller.   

Jonathan,   Most time it is better to bring your own buy's agent unless it is competitive situation with multiples offers on the table where you have to beat other offers.

@Kuba F. @Account Closed

Thank you so much for your suggestions!!

@Kuba F.  builders risk and liability policy vs. vacant home insurance policy.  Which do you recommend? and why?  does builders risk policy cover vandalism?

I guess I needed the confirmation from you guys.  Yes, I shall make that part of my "procedures" from now on.  Thanks!

@Kuba F. and @Eric Armstrong  Thank you for your reply.  Do you guys think it is even feasible/good idea to get the home insurance on flip?  LOL  May be I haven't learn the lesson yet.