Home Buying in 60655>Question Details

Meyerish, Home Buyer in Chicago, IL

Do you receive clear title at close on a REO property?

Asked by Meyerish, Chicago, IL Thu Sep 6, 2012

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7
you sure do..just ask someone at the table to provide a clear title and they will
0 votes Thank Flag Link Fri Sep 7, 2012
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!
Web Reference: http://www.myownhome.info
0 votes Thank Flag Link Fri Sep 7, 2012
You will make sure you get a free and clear title.
0 votes Thank Flag Link Fri Sep 7, 2012
apologies, yes i mean liens.
0 votes Thank Flag Link Thu Sep 6, 2012
I think Steven means "liens". Make sure to purchase a buyers title insurance policy.
0 votes Thank Flag Link Thu Sep 6, 2012
Yes you should obtain a clear title. Your attorney will ensure this.
0 votes Thank Flag Link Thu Sep 6, 2012
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 I’ve seen clearly states your taking property subject to no leans.
0 votes Thank Flag Link Thu Sep 6, 2012
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