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Top 10 Title Insurance Complications with Auction Purchases, Foreclosure
Auctions (Trustee's Sales) and REO Sales
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Is the Price Worth the
Risk??
Foreclosures and Auctions are situations where real property is auctioned
off to the highest bidder without a title policy being issued. REO (Real Estate
Owned) is the sale of real property that a bank has acquired, most often as a
result of a foreclosure, and are selling pursuant to a purchase contract which
may include only a basic title policy.
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For more information, visit www.RealtorLisaWu.com
Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, they are subject to change. Please note that individual situations can vary, therefore, please consult a professional for specific advice. (Source: CornerStone Title Company)
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