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Adem

Foreclosure Question

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I had a question posed to me by someone currently looking at a foreclosure deal. They've put 10% down, and have hard money investors supplying the remainder, with a closing to occur tomorrow. However, the title company is refusing to insure title as there is a time difference between when he pays for the property and when he gets the deed (he seems to think it can take up to a few months). I'm not familiar with foreclosure deals at all, so I thought I'd check here to see if anyone has come across something like this before.

 

Thanks,

Adem

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Adem, you're in Canada, so it's hard to say what is or isn't code or procedure up your way. Why not check locally, with either a real estate attorney, or maybe a knowledgeable foreclosure investor or title company rep.

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