As far as I am concerned researching the title on a foreclosure in St Tammany Parish is paramount. Beginning to end, a title preparation and exam is a maximum expense of $225.00, through any one of many Title companies, and / or attorneys listed in your local phone book. ($175.00 or so is about average.) Needless to say, if I am looking to spend $10K on up for a foreclosure in St Tammany, believe me when I say, I make damn sure I research the title prior to bidding at the Sheriff's sale. Average sales range much higher than 10K.
The Sheriff's Office gives a "quitclaim" deed to the purchaser of any of the foreclosures at an auction. This quitclaim deed simply states, "any and all interest I have in this property, I convey to you without warranty." What this means to you is; if there is clear title on the property when the Sheriff's Office receives it, then the Sheriff's Office will convey clear title to you, as the Purchaser. However, if there is muddy title on the property when the Sheriff's Office receives it, then the Sheriff's Office will convey this same muddy title to you, as the Purchaser.
In theory you should receive clear title to a property when you purchase it at foreclosure sale. The reasoning behind this is, when the property was originally purchased, be it 2, 5, or 10 years ago. The mortgage company, at that time, required the buyer to purchase title insurance, even if it was just a lender's policy, the title was good at that time. However, have a professional Abstracter, and Title Attorney, research and review the title on any property you are looking to purchase at a St Tammany Parish, LA Foreclosure sale. This is my best advice.
IF you have any questions, please post or email.