title company = clear title????

**johnreal** · 11-09-2010, 09:33 PM

Hello,

My agent tells me that there is nothing to worry about when buying short sales or foreclosures as if there was any existing lien or anything wrong, the title company would see it and they wouldn' t let the deal go through.

I don' t want to buy a property and then later being told I owe who knows what crazy amount to some bank or hoa.

So can I trust the title companies 100% or should I still check stuff on my side as far as the title being totally clear?

Thank you for helping a worried investor!

PS I' m buying in Nevada

**Greg** · 11-10-2010, 07:08 AM

Just be sure you get a title insurance policy. Now when you get a loan your lender will require you to get a title policy to cover the mortgage but you ALSO want to get a title policy to cover you the owner.

This policy will cover any flaws in the title and protect you in case the title company missed something.

**johnreal** · 11-10-2010, 01:24 PM

ok thank you Greg!

**Jonathan Radford** · 11-15-2010, 01:03 PM

Just be sure you get a title insurance policy. Now when you get a loan your lender will require you to get a title policy to cover the mortgage but you ALSO want to get a title policy to cover you the owner.

This policy will cover any flaws in the title and protect you in case the title company missed something.

Due diligence will never be punished, but insurance will cover your tail for the things that due diligence might have missed.

**lvagent** · 11-22-2010, 01:07 AM

The reason title will not close is because they cannot insure the title. Make sure you get title insurance.
Make sure you get a good title company, although uncommon, you can have a seperate title company represent you the buyer and they will work with the sellers title company. We do a lot of short sales and foreclosure sales here in Las Vegas and none of my clients have had title debt problems.
Title will send a preliminary title report to your agent, most never give them to their clients, but request it. Title gives this to all parties so you can look at the debts, the figures may be off and will be updated once the title company orders demands prior to closing.
It's a lengthy subject, but one you can talk to your agent about or with the title/escrow person.