the percentage is going to increase or decrease based on the amount of the transaction and what your title co. is charging you. 

Well the title company called me and said there is another brother and sister who are part owners as well.

Title free and clear and ARV is 130k.

Everything was set for us to close on this past Tuesday after running the title search we find out he refinanced so he owes $147,000.

Bank owned-REO typically sold with clear title and title insurance.Foreclosure auction-crap shoot, buyer beware, as far as clear title and liens.

They can be totally worthless and they can be only a partial solution to someone's problem.What you want is a Title Report which will tell you why they are using a Quit Claim Deed.

Since you have purchased real estate before, you will notice it is nearly identical to the contract your realtor uses.I took the completed contract as well as the earnest money deposit to a title company who did the majority of the work.

Here's an example deal:I purchase a property for $235,000 and expect $50,000 in repairs and $5000 in escrow/title expenses.

@Debbie Cost, do not change the title on that property right before a sale. 

Is the property titled in an LLC for your asset protection?