When it comes to distressed real estate, a clean title absolutely essential.

Title searches become especially critical for short sale and foreclosure transactions because liens on a property transfer with property ownership. That means that you could be stuck with an outrageous bill even though the previous owner caused the lien to occur in the first place if you’re not careful.

Indeed, any encumbrances incurred by the previous owner could become the next owner’s problem. And if that next owner is you, you may be in for a very unwelcome shock.

The July 2011 edition of Foreclosure.com’s free educational newsletter, “Investment Exchange,” is now available, which familiarizes you with title searches and how to get them done, for free if you’re so inclined (and diligent), as painlessly as possible.

Your success as an investor depends on it.

To read this month’s free educational newsletter from Foreclosure.com CLICK HERE.

Not funny “ha-ha,” but more like funny “uh-oh.”

First, SunSentinel.com passes along news that Elizabeth Bolinger was served with a foreclosure notice on an Oakland Park, Fla., condominium that she sold more than 14 years ago.

Here’s the reason, apparently:

“Bolinger was notified because while she sold the property as an individual in 1996, it was owned in a trust, meaning the transfer didn’t legally occur…. The loan’s servicing recently was transferred from Chase to IBM Lender Business Process Services Inc.”

Meanwhile, right up I-95 in West Palm Beach, Fla., there were 110 foreclosure sales in which the banks made no bids on the homes. As a result, investors on-site were able to snatch some of them up for as little as $200.

Sounds too good to be true, right? Well, it is, actually.

The Palm Beach Post explains:

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Just hit up an REDC auction near you … that’s how:

This house, located at 1819 Herbert Street in Lansing, according to BusinessLansing.com:

See what $25 will get you after the jump:

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