Phoenix-based ""Sharp Equity"":http://www.sharpequityhomes.com has begun offering title insurance for foreclosed homes purchased at trustee auctions in Arizona. The company says it's the first in the state to do so, and touts its approach as ""removing the last major risk from trustee sales.""
Sharp Equity has added title insurance to its trustee sale bid system, insuring not only a deposit of $10,000 at[IMAGE] [COLUMN_BREAK]
trustee sales but also issuing a full commitment for title insurance with no conditions before clients pay for properties.
The company explained that the offering of title insurance at this stage of a sale strips away all barriers to open the foreclosure market up to the general public.
""Everyday people can now get the same edge as the savvy investor,"" Sharp Equity said in a statement to the press. ""Buyers no longer have to worry about whether they are buying as a second on the title; or if the bid service they are working with will cover a loss if they make a mistake.""
Sharp Equity delivers title insurance to the buyer at the time they pay for the property, and will hold the policy as ""open"" until the consumer is able to sell the home. The company says this will prevent the buyer from needing to pay for it again.
Kyle Brown, a principal at Sharp Equity, said, ""We can't imagine why anyone would purchase through another bid service when they can acquire insurance for their trustee sales through us.""