LANDAUCTION.COM / Land with liens and defective title.0
Purchased 2 parcels of land at an auction in Miami, Florida On December 9, 2007. Have buyer for one parcel (in Punta Gorda) and when the title company conducted a title search, there were a number of liens by the city, plus the title underwriter would not insure unless title was cleaned by quiet suit.
I ask the title company to do a search on my other parcel (Cape Coral) and they found a similar situation. The company indicated that I was supposed to check the property before bidding on it. I am stuck with 2 parcels of land which I cannot do anything with and they expect me to continue making payments on them... But they are willing to do a loan modification!
BEWARE of auctions!