Question

How important is a title search when buying raw land?  The land I bought was a foreclosure.  Also, closing is in about 3 days.  Does this give me adequate time to conduct the title search? 

Community Answer

You don't want to buy land from someone who doesn't actually own it.  A title search will identify current owner and previous owners.  I would assume they would search as far back as titles were originally recorded.  There have been scammers who sell land that does not actually belong to them.  A title search will protect you from being told that the grantor had no right to sell the land to you.  After a title search is performed, insurance on that title can be purchased for an additional fee.  If it is found that your land is not really yours, I believe you would be entitled to current market value of the land as an insurance claim.  Just a note: A survey is not the same as a title search.