At least it doesn't appear to be a defective foreclosure issue.

Seller further warrants that there is no material or other known defects or facts regarding this property, which would adversely affect the value of said property.ASSIGNABLE CONTRACT: BUYER MAY ASSIGN CONTRACT IF FINANCING CANNOT BE SECURED.NO JUDGMENTS:Seller warrants that there are no judgments threatening the equity in subject property, and that there is no bankruptcy pending or contemplated by any titleholder.

Color of title is the appearance of title as a result of a deed that seems by itslanguage to give the claimant valid title but, in fact, does not because some aspect of it is defective.

Trying to sell something to me with defective title, and the attorney paid by me insisted title research is enough to protect me. 

The interior definitely needs revamping (carpet, paint) but there were no major visible defects when we saw it, other than the fact that it was filthy and hadn't been maintained well.  

I figure about $25,000 is a good amount to borrow, JUST in case there is some unknown defect with the property that comes up.

Personally I would replace the windows because that is a defect.  

Never had someone get a home inspection on a rental but when they come through and point out all the defects I usually red flag them as being not for us. 

.• In Nevada (and I assume other states as well), you protect your ownership of property against title defects or recorded liens and such through title insurance.

If Ivan encounters any issues with defects in the file he will have recourse against said title agent or its company which exceeds the bounds of their O&E Insurance.