I called my title rep and could not get a clear answer. Anyone on hear or any title reps on here can help me with this? Here’s the scenario:
Say I buy the HOA lien at sale, and there are currently 2 open loans on the property. However, even when you add up the 1st, 2nd, & HOA dues owed, there is still equity in the property (I know, rare!)
If I buy this HOA lien at sale, can I get a title company to issue an insurance policy when I turn around to flip the property? I was told by my local title rep an HOA lien is a civil matter, which could complicate things. Must I pay off the 1st & 2nd prior to flipping the home? The property is located in Southern California. In this specific case, the 2nd is current. The 1st had a NTS filed last year but when I checked with the title co. recently, the 1st had been cured as of now.
I greatly appreciate the help.