Leaving out auction and foreclosure costs for a second, when you write that check for $220k the trustee is going to pay BigBadBank the $175k they are owed first, then he's going to pay LittleBadBank the remaining $45k, and you will get a clean title as the process is going to wipe the slate clean.

He may be actually speaking about a "Wrap".Find out if actual ownership converts to youMake sure you have a title reportYou may want to pay for an appraisal and an inspectionMake sure you use an escrow company or an attorney to do the transaction Hi Ken!

That means YES, they are actually with people sitting down and scrolling through new listings every day looking for people to tag.

Once I submitted everything to the title company to complete the transaction, I learned that the seller had not gone through the proper processes when she inherited the house.

@Daron Williams before you try and sell your lot you need to know that you may have to wait 2 years before getting a title policy. 

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

For example, they have not sent us the rent they owned us for the last three months, and here is paperwork to show it is not in our account, here is the contract with them stating they would pay on this day each month, and here is the title of the house in my LLC/name to show you we own the property too.

LOL.. but I understand Title and Escrow pretty darn well and title insurance and so on and so forth..

Hey Patrick, You can easily do a 1st mortgage refinance or 2nd HELOAN DSCR Cash out while keeping title to your property held in an S-Corp.

They basically practice real estate without a license.The wholesaler eventually assigned the contract to another buyer and the title company did a double closing.