Whether you can pick your own title company depends on the specific auction/bank/property/state you're in - make sure that you read the fine print and have the option to select your own instead of being stuck with the bank's choice.Title insurance covers you if the title company says "no problems with the title" and then it turns out something was missed down the line (e.g. an outstanding lien or something).

My wife and I find ourselves in a position that we have a home valued at 400k.With an outstanding mortgage of 145kCurrently my wife’s parents are on the loan but have no interest in the equity.We are considering a cash out refi and using 100k to put down on another home in the future and then renting this home out.  

The FinancialsPurchased our "starter home" brand new in 2010 for $166,490Zestimate is currently at $281,510Mortgage Outstanding Principal balance is $137,331.69Monthly Payment (PITI) is $1,159.24Rent Zestimate is $1,625 /moIn case it's relevant, our budget for a new home is $450K and we have 25% saved for deposit.

Details:Outstanding loan amount on the home is $187kPreviously listed for sale this year at $250kArea comps are around $300k and rents around $2000/moPhotos in sale listing show a mild hoarding situation and listing says house needs some workMy main question is, in a sale like this, if the outstanding loan balance is $187k, is that all the mortgage company is concerned with or are they looking to make as much as possible?

Gregory Schwartz I’ve been to Huntsville a few times man; it is outstanding.

It was the “90 Day Challenge” episode titled: “How to Buy Your First (or Next) Rental Property by the End of the Year.”For example in the sections regarding checking a property out they talked about due diligence items like calling utility companies to check for outstanding debts or checking the property for liens.I plan on working closely off of this episode but I figured I should check the forums first to see if anyone has seen an existing checklist like this anywhere that I could build upon?

It's 1:00 am now and I'll be at WESH news with my wife at 8:00 tomorrow morning washing their fleet of news vans before I get to the fun Real Estate part of my day in the afternoon. 

I'm finding many buyers that are able to withstand the upswing are adding on to portfolios because there some really aggressive loan programs out there for qualified borrowers with outstanding rates, while others, that may have more tenuous finances are hesitant. 

Maybe owner will sign deed back to your dad but make sure you get title insurance and know if any liens are outstanding.

Maybe you should be sure that is the real reason -- maybe they have outstanding legal cases with the seller.