Checked The Liens, But...
My friend and I just got into looking at foreclosure sales/sheriff sales. We checked out liens at the county courthouse, but we think that it only shows the liens for that person only. We also think that doing a title search would completely search other liens on the property. Is this true or are we overlooking some obvious stuff?
Please any help would be greatly appreciated!
Attached is a link to a book titled Hidden Secrets of a Real Estate Technician. It is the best book I have read concerning real estate transactions. It includes all that the popular authors leave out in their books. It is a great read, hands on mechanics of the questions you are asking. Liens, title searching, deeds, etc.
The author Bryan Wittenmyer is from PA and abstracts his knowledge and experience of REI in PA. You can also call him up and speak with him if you like at $70 / hr. You wont be sorry.
http://www.infoleverage.com/Real%20Estate%20Technician.html
Hope this helps.
You cannot discharge the lis pendens this way but you can insure over it with a title company. What was the cause of action which the Lis Pendens referred to?
Setting aside a Lis Pendens can be done if it is found proper legal proceeding was not followed, improper legal description errors where the least sophisticated person could not identify and or errors on a mortgage document justifies damage to the consumer (primarily damage of a financial nature) the closing statement (HUD 1 forms) is a good place to start looking for excessive charges.
One can delay a proceeding by requesting and receiving an injunction.
[addsig]
Id like to know the answer to that one as well. You have money to buy rehabs and no money to incorporate? Who is going to hold title to the property if there is no incorporation? I guess I dont know much about the subject, just a couple questions...
There are many options availible for you. I would suggest putting the property into an L.L.C. then structure the offer as a % of the L.L.C.
Oops. Missed that part about it being a 2-family. Glad the rest help.
j995
You ought to post your question as a new topic in a different forum. You have moved from a legal question to a financing question. Moving it to another forum will get you better responses.