All Forum Posts by: Senta J.

Thanks again for the advice! Yes, it was auction.com. Next time I'll know to run my own search prior to bidding, it's definitely a learning curve. 

It appears that the mortgage is just the primary since it was for the purchase price. Will they definitely clear that prior to closing since the bank foreclosed or is that something I need to remedy after closing? 

Yes, this is called a Quit Claim Deed. I was initially told (verbally) that I would get a clear title with insurance and I need to research the auction's terms to verify that to be true. However, the language in the contract states the following:

"...the deed or other conveyance document to be delivered at the closing shall be quitclaim or other similar instrument conveying the seller's interest in the property, if any. The deed and other instruments assigning seller's interest in the property shall contain no express or implied warranty or representation of title, or specifically disclaim any such representation or warranty...buyer may, at its own election and its own cost, order a title report or commitment and obtain title insurance, but the receipt or availability of such items shall not be a condition of the closing..."

I'm not an attorney, but I'm interpreting that to mean they can sell the property without a clean title and that the quitclaim deed is the way they can legally do it. Did I understand that correctly?

Thanks so much for your input!!

Thanks so much for the advice, Steve!

I did what you suggested and had ProTitleUSA run a search.The only thing that looked problematic is that it still has an open mortgage against it from the owner who was foreclosed. Does this sound like an issue or will it probably be removed before closing? 

I am a newish member to BP. I have a little problem and was hoping someone can point me in the right direction. I am in the process of buying my first flip. I won an auction, had a closing date set for this week and now they're saying there is a problem with the title recording with the county (Baltimore City) and closing will be delayed.  

There is a clause in the contract that basically says they can sell us the property with title issues. Is there a way for me to find out what's going on with the title? The title company is not communicating much. It's my understanding they actually work for the seller, right? We're not sure what to do at this point. Is this something not to go through with the deal over? 

Any help would be greatly appreciated!!