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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: REO Title Issue Posted by BrianH on January 07, 2010 at 12:33 AM In Reply to: REO Title Issue posted by Obewon on January 07, 2010 at 9:42 AM : Hi Guys : An interesting question on REO Bank owned. My inlaws are udder contract to purchase a Bank owned REO. Bank will only provide : a Special Warranty Deed to them on an all cash sale. I have said insist on a General Warranty or walk away. Property is in a 30 year old PUD in California. I am told by others that Banks will only issue Specials and never Generals, is this correct? Is there a work around? : Do you agree with my advice? I've purchased a CA REO or two and the bank contracts and addendum that I have seen have all said title conveyed with special warranty deed OR customary document for the state (or something like that). All of them were an insured grant deed from the bank to me. Hope that helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi Guys : : An interesting question on REO Bank owned. My inlaws are udder contract to purchase a Bank owned REO. Bank will only provide : : a Special Warranty Deed to them on an all cash sale. I have said insist on a General Warranty or walk away. Property is in a 30 year old PUD in California. I am told by others that Banks will only issue Specials and never Generals, is this correct? Is there a work around? : : Do you agree with my advice? : I've purchased a CA REO or two and the bank contracts and addendum that I have seen have all said title conveyed with special warranty deed OR customary document for the state (or something like that). All of them were an insured grant deed from the bank to me. Hope that helps. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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