How Do I Find Out If A Forclosure Has Any Leins On It
I am just starting out I see a foreclosure I want to get and it's going to auction in 1 week I call the residence but the person who is on the mortgage is missing in action he left his wife and the house is in his name , she would sell it to me before the auction but I can't buy it from her she is not the owner....and she does not know anything about leins, is there a web site that can search for leins?
Thanks :-?
[ Edited by DSIERRA72 on Date 06/05/2004 ][ Edited by DSIERRA72 on Date 06/05/2004 ]
Title search... requires doing some reasearch at the courthouse but if you don't know how to do it, and it can be complicated, you can just order a title search for about $75 from a local title company or RE attorney.
Mike(NC)
the county recorders office is where liens are recorded.
Many have web sites, some you can order doc images for a fee.
There are also subscription service that do this.
It's pretty tight to do a through search in 1 wk.
May be do this one on paper, and see how it goes. Maybe you'll even have the chance to get it REO if you want.
I have a similar post going but thought I woud ask. How on earth can you take the time to do a title search on every property that you make an offer on? I mean if I take the time to do the title search then
a) I am spending $75-100 a pop just to see if I want the property
b) by the time I do the search, the house is already sold. I mean REO's here are selling the same day or the day after they are listed
by the way I am not against title insurance or searches I want the protection, I just don't get how you can take the time to do them and still get the properties.
Thanks
Joe
[addsig]
Thanks I am going to go to the county recorder's office on Monday and do a search...I don't want to wait for an REO ...it's starting bid is 10,000 and the house next door sold for 390,000. in Jan.
Thank you for your help
You can forget about title insurance if this lady has no legal rights to the property. She may not be on the mortgage but she may be on the deed. Or, was subsequently deeded the property. Check the records, Check State law for spousal interests.
If the answer to these questions is negative, then I can sell you the property via a Quit Claim Deed for less and my interests in the property would mirror this unfortunate lady's interests.. LOL
make sure the 10K isn't a bail bond (the reason Husband is missing?) and there is another 300K of debt of the property.
I have seem deals like you're mentioning, but there often is a catch.
who is the benificiary or sell at the sale?
as for title search on ea. property, it's ea. property your going to write an offer on.
Plus there are tools, services that don't cost 100's.
a trip to the federal court building (bankruptcy), country recorder, and tax office covers 99% of the stuff
it's being auction off by the county it's a public auction , the lender is North Fork bank . I am not sure if there are leins but I would think there must be some one the property , I am going to have to go to the county recorder's office and look it up, because like you said it might not be worth it...it sound to good to be true
You can get it under contract and THEN do your due dilligence.
Great ...Thank you
At a trustee sale?
All cash for the property where-is, as-is at time of auction.
If the rules are different, that sure makes foreclosure deals easier.