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Do you get a clean title when BUYING A SHORT SALE or BANK OWNED HOME?
There was alot of confusion with Manchester NH Home Buyers with the risks involving buying a SHORT SALE, FORECLOSURE or BANK OWNED HOME? With different information coming from so many sources questions on these types of properties continue to rise. I am happy to report that the most risk is with auctions which most buyers are not using tio purchase these types of properties. For the average owner Occupied Buyer there is plenty of protection available to you for a seamless purchase.
 
 
HOW DO I KNOW THE DEED IS CLEAN?:  The most common protection is a through a TITLE SEARCH. A title search will make sure the deed is free and clear of all mortgages, liens, back taxes and or HOA fees.
a. First thing is that if you are getting a mortgage than your bank will make sure the title is clean before they give you a mortgage. The bank will work with the closing attorney to review the title report. 
b. If you are paying cash, you will want to hire a lawyer to conduct the title search and make sure the title is clear.  
TITLE INSURANCE: Whether you are paying cash or getting a mortgage,  it is recomended ... more

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