Real estate investors must conduct thorough title due diligence through title companies, closing attorneys, and preliminary title searches to identify hidden liens, judgments, and unknown heirs that could derail foreclosure deals and result in financial losses.
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Title issues can destroy foreclosure deals if investors skip due diligence.Added:
I recommend going through your local title company, your local closing attorney. Please get title insurance. If you have to reinstate outside of escrow or quick claim over, at least do a preliminary search. Make sure there's no huge leans, child support issues, judgments that are going to immediately derail things. The other issue becomes maybe you get a contract signed with someone but then there's different estranged heirs or people that you didn't know were involved with the property and all of a sudden you spent a bunch of money or you deed it over a property that you can't do anything with right now. So please, mistake number seven, please get title insurance. Close through a title company or a closing attorney.
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