Like anything in life, do your research. I wouldn't automatically assume that any lawyer or title-insurance company is going to be thorough. Some are and some aren't. I've bought several foreclosed properties and discovered many mistakes made by attorneys and title companies. All from banks and all in northern Michigan. With any title insurance company I've dealt with - they have many loopholes in the fine-print to protect them from liability. They have to make an overt mistake and miss something in the general records to be liable. If something hidden and estoric pops up, often then are not.
Also, in many states, I wouldn't touch a property offered with a quit-claim deed unless awful cheap.
Here in Otsego County, New York . . . when the county sells a property, they back it and guarantee it 100% even though they ONLY use quit-claim deeds - which is kind of strange.
And yeah, as another mentioned, many if not most of these properties are very run down, stripped, etc. But for me, that's what I want. A $150,000 house that sells for $25,000 can be a pretty good deal . . . and have low taxes until you get around to fixing it up. Since I'm a non-resident, the taxes I have to pay in Mighigan are doubled - so having the houses in bad shape is a big assest - until it comes time to sell or live in them.
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Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
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