If the borrower took out the 2nd knowing that it was not a 2nd that is different than someone forgot to record.There could be liability for the title insurance company if the 1st was not recorded and yet a policy was issued indicating it was in 1st.This one could be fun or a waste of time.John Corey

I would strongly recommend the insurance for a touchy, tempermantal purchase like this because it seems to have paid for itself for me.

In some places title companies will refuse to issue title insurance if a quit claim is used.

That will not be prosecuted as a crime and your insurance will not cover it.

I asked my insurance rep, and he discouraged me from using the fireplace as it is, given the college student factor.

And the homeowner's insurance in Colorado is $400 for $1,000 deductible versusu $900 for 3% deductible down here.The above paragraph is submitted to all of you CA, NY, NJ and other out of state investors who keep hearing how inexpensive houses are in TX and how easy (not) it is to cash flow down here.all cash

No charge if you agree that when you do deals you will bring them the business (closing, title insurance).

If you are going to want title insurance then see what it costs to get a preliminary binder so if you do buy they will issue a policy.

Determine your costs (taxes, insurance, maintenance, vacancies, etc), or use a cost factor. 3.

Though i expect to contract for $255,000 Details follow. 8 plex renovated in 2006 and 2007: new roof, all apartments new carpet, painted, new windows, new lighting fixtures, new kitchen cabinets and appliances.4 two bedroom and 4 one bedroom all with w/d hookupsCurrently 100% occupancy with 1 year leases.Sheduled gross income $3300/monthtaxes and insurance $2500estimated maintenance $1800all apartments on separate water and electriclong time handyman on premises gets rent reduction for service.