What are the Dangers of Investing in Foreclosed Properties?
A. Banks selling foreclosed properties make every effort to provide clear title to the property, but most lenders’ disclosures include legal wording to the effect that no guarantees are made and the property is sold “as is.” This is the reason why a buyer must carefully study and understand all conditions included in the documentation issued by the financial institution, before signing and submitting it. A buyer should consult an attorney to review the documentation and pursue options such as title insurance.
