Foreclosure and Title Insurance

From all you gurus that have been in the business for awhile–Is it a good idea to get title insurance on a property that has been bought at the sheriff sale (auction)? I have performed my due diligence and believe that there are no other encumbrances on the property other than the first mortgage which is being forclosed. Is it possible for someone to file a mechanic lien against the property after the property has been sold at auction?

I look forward to reading your comments.

<<Is it a good idea to get title insurance on a property that has been bought at the sheriff sale (auction)?>>

Absolutely!

<<Is it possible for someone to file a mechanic lien against the property after the property has been sold at auction?>>

Once the title has transferred, liens cannot be placed against the property for the previous owner. The mechanic will just be SOL…

Keith

Purchase a Title Binder Policy. This alone will save you hundreds of $$$.
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Good Luck!