I Am Also Disappointed With RealtyTrac !!
I recently joined RealtyTrac and at first loved it! But I soon discovered that ALL the NFL foreclosure sales in my area were outdated! A very promising REO that I was interested in was ALREADY sold when I checked into it! The bigger cities around my hometown are more updated, but even then the RealtyTrac Sale Dates are listed on the wrong days than the actual auction dates that the courthouse has in the newspaper. I complained to RealtyTrac but I probably won't hear from them. Ugh!! Oh well, I'll look around for something better!
:evil: AAK
Although I have not used RealtyTrac, there are 2 potential problems with databases (particularly secondary or tertiary ones): garbage in garbage out and being outdated. The farther removed from the primary source (eg, the repository of the documents themselves), the greater the likelihood that the information may not be current or accurate. The integrity of any database (even including a governmental database) in my experience depends on both the frequency with which it is updated and the manner in which it is compiled and maintained.
Databases are good screening tools for preliminary research but if you want absolutely accurate, updated info, you need to go to the primary source. This is why title companies don't rely exclusively on databases but send people to the courthouse to physically search records.
i'm still a sub with realtytrac but I have learned that the info is slightly outdated as www.well.Now I look at dates posted and LIS because by the time LIS gets to u more than likely it's headed or is NFS and you can still talk to the OWNER and not the attourney or holder.Also the owner hasn't had enough litigation to be real upset with thier own demise and is a little easier without all the attitude,more suceptable to listen more.
[ Edited by rdm on Date 04/03/2004 ][ Edited by rdm on Date 04/03/2004 ]
Quote:
On 2004-04-03 14:15, rdm wrote:
i'm still a sub with realtytrac but I have learned that the info is slightly outdated as well. Now I look at dates posted and LIS because by the time LIS gets to u more than likely it's headed or is NFS and you can still talk to the OWNER and not the attourney or holder.
Quick question - is LIS the "lis pendens" that gets filed before the NOD goes out to the homeowner?
Also - Nancy - along those lines you mentioned that title co's use dbase info as preliminary, then go to the courthouse to actually search physical records & verify. In your experience, what exactly do they search - for the lis pendens to indicate that a prop is indeed about to receive a NOD? Or some other record related to the property in question?
(sorry if this is too newbie-ish of a Q for this forum... but I appreciate any help.) Thanks!
Lis is the initial doc filed by an attourney to put on the record of the intent to file foreclosure proceedings.But as to Realtytrac as was written,is behind by number of days and sometimes 1 month due to the info given by certain entities was not kept up with, to agencies that report.So if you check at the courthouse of it's actual pending it will must likely have been moved up to the next step of . Trac is only a lead as to check . Not meant to be exact,close to a certain degree.
[ Edited by rdm on Date 04/03/2004 ][ Edited by rdm on Date 04/03/2004 ]
elf2588,
In my experience, PA title companies prior to insuring title do a judgment and lien search--pulling the deed, whatever has been recorded against the property, and judgments, if any, against the property owners. However, I have also had title companies pull specific information and documents--such as anything that is referred to in the deed (eg, plans, recorded easements). Don't know about title companies in your area, but here you could have the title company do somewhat "customized" searches on property. My suggestion is that you contact some local title companies and ask them what they can pull for you as well as their fees.
Yes the PA sub-companies do, but they lack in the reporting to agencies with the more up-to-date info given to the little guy and they rely on info that is given to them if they dont get it, well u have it. The little guy "realtytrac" for 1 is the later on the list of contacts to be informed of reaccurring or further actions, I have found with the realtytrac to go for lis at least in my area in FL sub community as it seems to be that the property is usually vaccant and persue the real owner.Sometimes the "midnight" move has the issue.[ Edited by JohnLocke on Date 04/04/2004 ]
sorry about the www. thing I try to get that off but I seem to always get it wrong, story of my life !!
rdm,
The story of your life just changed, well as far as the www thing it did.
John $Cash$ Locke
I tried RealtyTrac for a month and found it was not useable. There is not much data behind each listing. The Trustee's Sales were lacking data and REOs were just listings by real estate brokers. A true REO lead should be from the Trustee's Deed. They also try to bait you to purchase more information about a property. Just click the button and it will be automatically billed to your credit card.
Larry
****Must Reach Freshman Investor status before posting URL's***
we used to use realtytrac, but found it very very difficult to get any information out in a useful manner. none of the exporting tools worked at all. most of the fields that came through in the exported file were empty, even though the data was filled in on the property detail pages. we found much better luck using a local research company and now we get more data, which is more timely and correct than anything we ever got from realty trac. we spent countless hours on tech support with realtytrac and never got anywhere, their support people have no idea whatsoever and are a waste of a free call...
thank you for sharing your costly lessons
John
Good! I thought that I was the only person fed up with Realty Trac. This website is a joke. I was really excited when I started using it because instead of waiting for someone to finally throw me a bone I found the bone. I mailed letters out to people who had supposedly received Lis Pendens notices and they were returned with NO SUCH PERSON, NO SUCH ADDRESS etc. I even received a call from a woman that told me that she wasn't in Foreclosure. She wanted to know why she was getting mail from my company. I talked with Realty Trac and the operator told me that they insert the information as soon as it is recorded. I have since then cancelled my subscription. I also checked with the assessor's website for taxes due and the figures were way off.
Toska Palmer
Quote:
On 2004-04-03 19:46, elf2588 wrote:
Quote:
On 2004-04-03 14:15, rdm wrote:
i'm still a sub with realtytrac but I have learned that the info is slightly outdated as well. Now I look at dates posted and LIS because by the time LIS gets to u more than likely it's headed or is NFS and you can still talk to the OWNER and not the attourney or holder.
Quick question - is LIS the "lis pendens" that gets filed before the NOD goes out to the homeowner?
Also - Nancy - along those lines you mentioned that title co's use dbase info as preliminary, then go to the courthouse to actually search physical records & verify. In your experience, what exactly do they search - for the lis pendens to indicate that a prop is indeed about to receive a NOD? Or some other record related to the property in question?
(sorry if this is too newbie-ish of a Q for this forum... but I appreciate any help.) Thanks!
Elf 2588
Come on now Elffy baby, you are in the great state of Calif. You do not have to play with all those strange things.
First of all a NOD is filed and that night a copy of the tape er digital record is scanned by www.RETRAN.net. they have it on line by the next day oh well say three days. You just go on line and pull down the area of your interest. Come on now you cannot run them all just pull down your zippy code or maybe two or three others. Get in your car and go knock on their door. Change your name to Gabriel and announce you have come to correct their situation. And do so. Be prepared for anything and you will not be suprised. Be prepared to do anything. Buy, Sell, Refinance, Talk to lenders, attack the basis of the foreclosure, whatever. Buy by assignment the Trust Deed now in Forclosure or the one junior to it. Etc. Etc.
Thats it. Lis Pens indeed we are past all of that.
Everynight the title company have what they call "The Night Search Crew" They go in and check all legal recordings of the day that may influence a title. What more can you ask then that. The following day the title officer so charged then notifies the Trustee who is foreclosing. So the info is timely. It is necessary as you approach the day of sale. Damn man you cannot run a foreclosure sale if there was a title transfer the night before, or an action filed to restrain the sale etc. etc.
You just buy the service. The others are back in time. You need a service that gets a copy of all recorded documents and abstracts from that list of goodies all the ones that are NOD. Sort of fun. We used to do it on a MicroFish, talk about Nausea, oh my god. I used to take Dramamine to keep from throwing up. Modern life is a lot more fun. Cheers
Lucius
Lucius,
MicroFish, Bull, try stone tablets.
John $Cash$ Locke
I do agree. Provide door knocking technique really work. The question is does it really?
If the above author of the "door knocking" formula would be so nice to state several addresses of the properties he bought in this manner, so we can check the title record and confirm it works, his credibility would certainly go a notch up and beyond the obviously great writing talent also known as striking down keys of a pure MS keyboard.
And if the record do check out fine, as a next stage I propose the great author writes even greater article aimed to comprehend the whole process and without leaving the key component missing out. Purpose,: Don't tease newbies, give them a whole story so they CAN figure out how to do the whole thing. Com on Sir Lufos, help newbie. Would you? it would be so nice of you.