When it comes to REO properties its always best to have a competent attorney reviewing your title. It's also suggested that you purchase buyer's title insurance. This insurance offers a form of protection against any future claim from liens that may have occurred prior to your purchase. With a good attorney and proper protection you can be at ease purchasing an REO property. My office works heavily on making sure we have the right team of experts working hard to protect you. If you want more information on how we can assist in finding, insuring and protecting your future home than feel free to congact me at 773-627-7608. Good luck!
Clear title on an REO property is not something I worry about. The banks have money and can clean up any leans. However, this is attorney territory and he/she will verify at closing. Every contract Iâ€™ve seen clearly states your taking property subject to no leans.