Big auction of REOs. All secure?

I’m starting to see big auctions of REOs by what seems to be reputable auction houses. They claim that past taxes are paid, that there are no liens, that deeds will be given, and that the title is insurable. At first I wasn’t all that interested because I didn’t think prices would be good, but I saw the results of one big auction and kicked myself for missing it. Half a year later, theres another 2, and I think I’m ready to jump in. I went to open houses and they look good. Other than the wisdom of getting the places inspected… does all seem as trustworthy as it sounds? I know I might find things wrong, but could past liens etc still come back to haunt? Are there things to be leary of in the title insurance? I would be going for rockbottom prices so I don’t want to sweat the small stuff. This all seems reputable. Maybe I shouldn’t even bring a lawyer to closing?

1- close your deals through a reputable title company. they will do a full title search so you’ll know what the story is before you close.
2-make sure you get owners and lenders title insurance. this will cover you from any liens, claims, etc. for years to come.

Indoctro Stallion aged 3 years SOLD at auction. February 2009

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