2 thoughts on “Question: Would you buy a bank owned property?”
mikewilliamsen
Good point Tom. I have a buddy who does securitization audits. Most loans have been securtized, with illegal documentation, fraudulent transfers, and all sorts of wickedness by the banks creating a challenging chain of title. Buying a property at a trustee sale without benefit of title insurance could backfire.
Good point Tom. I have a buddy who does securitization audits. Most loans have been securtized, with illegal documentation, fraudulent transfers, and all sorts of wickedness by the banks creating a challenging chain of title. Buying a property at a trustee sale without benefit of title insurance could backfire.
I see no issue buying a bank owned property. Sometimes, you can get the best deal this way. However, make sure you have the correct financing.