Watch Out For This Problem if You Are Buying a Foreclosure

by Sally Lawrence on November 30, 2010

Most folks have already figured out that a buying a Tehachapi foreclosure can be a really good deal.  No one will deny that bargains abound.   By all means find that bargain and buy it.

Be aware that there might be a hitch in closing escrow on that bargain.

As a result of the recent issues with robo-signing on foreclosures among other practices, some resales of foreclosed properties may be delayed.  Problems with paperwork on foreclosed properties has delayed some closings.  Some industry experts think some of those properties may never close.

Be sure you know the status of the property you are considering for purchase.  Check this article for the pitfalls with only getting a lender’s title insurance policy.

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