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CB Real Estate Review of LANDAUCTION.COM
LANDAUCTION.COM

LANDAUCTION.COM review: Land with liens and defective title.0 2

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11:36 am EDT
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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!

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fairwaywarrior
Lexington, US
Apr 29, 2009 9:12 pm EDT

sounds like you should have purchased title insurance, that would have solved all your problems!

Of course the auctioned property had liens, they don't auction off properties becuase nothing is owed on them!

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Kris_land
Houston, US
Jul 07, 2009 4:12 pm EDT

I agree I was a victim of the scam I purchased a piece of property that was sold on auction, the auction was for a larger lot with larger square footage, when the deed came in they gave a lot woth lesser dimentions lesser square footage, they told me that they paid higher price for permium property than what I had paid.