Title Search
I've found a foreclosure property that is suppose to go to auction next Friday. The house is vacant and I've sent a letter to the informant on the death certicate hoping to gain info on the surviving spouse, etc. Should a title search be done before purchasing if it does go to auction? Do title companies do the title search and will it tell if there are any liens? Thanks
A title company will do exactly that. They will have all the lien information and historical data on the property. You may want to get with them quickly as sometimes the turn around time is 3-5 days which would put you past the auction date.
Good Luck,
Kyle
Thanks for the info.
When you buy a house at an auction do you pay all the fees like a conventional closing and do they use a title company for closing? For example, If the judgement is $55,000 and you win the bid at $56,000, what are the normal extra fees that has to be paid?[ Edited by Tilara on Date 10/25/2003 ]
You should check with the Clerk of the Circuit Court (Foreclosure dept) for specific procedures in your county. In Volusia county we only pay doc. stamp fees and court registration fees. On a $100k purchase the add'l fees are $1,005. This is usually explained in the judgment paperwork as well. Read the judgment completely.