Checking liens on preforeclosures

Comments(8)

• 
  mblumel5th February, 2003

  Walt,
  I live in Florida also and recently got into the preforeclosure part of REI and when we realized how much time it would take to researching them, we decided to go with a Foreclosure Reporting Service. It gives you all of the information for each property (that they can find) and you get the reports once a week.
  
  I don't know what part of Fl you are in, but if you are in S. Florida, I can give you the info on who we just started using.
  
  I figured my time is better spent learning and contacting the homeowners then researching a lot of info I have no clue about. just a thought!
  
  Martha

• 
  JohnLocke5th February, 2003

  mblumel,
  
  If you are getting a preforeclosure report at the end of each week, then you can pretty well count on these people have already had at least 20-30 post cards and letters from investors, mortgage brokers, door knockers, etc., offering to help them.
  
  It is what you say to these people and the method used to contact them that gets the deal and helps them. You need to set yourself apart from the also ran's that don't get the deal.
  
  Just my opinion when contacting pre- foreclosures.
  
  John $Cash$ Locke

• 
  way_motivated5th February, 2003

  werc, what you could try is searching for county online at google.com and see if your county's recorder's office is online, if they are they might have a search function and see can see what's been filed on the owners and their property...[ Edited by way_motivated on Date 02/05/2003 ]

• 
  mblumel5th February, 2003

  Thanks John for the scoop on using the foreclosure service. Do you know how long the information is made public before the foreclosure services usually get them?
  
  I also have been told that part of it is to not only set yourself apart, but to be persistant. Have multiple contacts with the homeowner. That most people give up only after not getting responses after the first or second time.
  
  This forum definately has had some great ideas!
  Thanks again!
  Martha

• 
  way_motivated5th February, 2003

  what i've found with the houses i've been to so far is that the owners have a large stack of un-opened mail, including letters from people wanting to buy their home, also, as for the listing services the info they get is usually already 1 week to a month old so just learn how to get it yourself and go get'em, if you can afford it, you could try both mailing and door knocking and see what happens

• 
  5th February, 2003

  Werc, if you want to research the title on any given property, the best thing from my exerience is to go to the courthouse of that counties and visit the records room yourself. Be humble and explain to them that you don't know what you are doing and ask for some help in researching a title. In most cases they will be glad to help get you started. You also may meet someone there who will do it for you at a small fee.
  
  Dan

• 
  durhamdaniel5th February, 2003

  Call your local title company and ask for and O&E report. That will give you all the liens on the property. You'll need the legal description and address. O&E is and owner and encumbrance report. Find a title company that gives them for free in exchange for using them to close deals with. Just my 2cents worth.
  
  Dd

• 
  debratherealtor5th February, 2003

  I have found the services tend to be very out of date. Find out by calling your local Registry of Deeds where someone would file a foreclosure action in your state. In my state there is one court and one court only. I go about once a week. Here, until they are entered into the computer no one else could have seen them. I also have made friends with the nice lady who works there and hopefully soon will have her printing my list and faxing it to me. Once that's done I send a letter. If anyone responds I then do a preliminary search if their county records are on line. I can find all their liens. When I talk to them I ask them to list all the liens on their house. When we strike a deal I make it clear that a title search will be done and if I find other liens I won't be happy. Then I do a thorough title search. Most registries will show you how to do it. Also, if they are in foreclosure, the company foreclosing has to notify all lienholders that they are foreclosing. Get permission to talk to the attorney handling the foreclosure and the attorney should be able to inform you of all liens on the property.
  
  Hope this helps!