If this is a Fannie Mae loan and an investment property and an SFR you can do a cash out refinance up to 75% of the new appraised value and 70% if it's a 2 to 4 unit property.SFR Example: 200 x 75% = 150K - 80K = 70KThe new lender will put a new lien in 1st position on the property and the 150K will pay off the old lien for 80K and the additional 70K will go to you after all fees ( Title, Escrow, Lender, Broker, Etc ) have been paid out. 

We purchased a property that requires Quiet Title. 

West coast we are still able to get em done in 30 days start to finish but boy I have a hard time having that happen in other states.. especially attorney driven closing states were the buyer and seller each hire their own attorney.. boy who ever though that one up.. the amount of back and forth between the attornies and mistakes and delays just cracks me up. compared to our title company clsoings everyone using one escrow officer to handle the transaction.

BUYER and SELLER agree to the customary split of closing costs.SELLER agrees to furnish at SELLER’s cost a Title Policy as part of this transaction.Upon acceptance of this offer, BUYER or his agent will deliver a deposit of $1,000 to the closing Title Company (to be agreed upon).

But if on the other hand, your BUDDY was trying to on-sell it without having Title or License - all bets are off! 

Then you have to be associated with a title insurance company so that you can issue  title insurance. 

You could do a Contract for Deed with a wrap around mortgage and have it setup to automatically transfer the title after the terms are met.

Your 1031 intermediary will create a holding company (an exchange accommodating title holder EAT) to take title to the property you want to buy and secure it for you and hold it for you with guarantees to you and financing provided by you.  

Are Title Companies involved in every Real Estate deal?  

Oh yeah, you have title search done and notification after first month and before 6 months.