Title Searches
i am just starting to invest in foreclosures i live in rural ga when i go to courthouse what steps do i take to completely check a title for liens or any emcumbrances for that matter. thanks guys and gals preciate all y'alls help :-D
Pay a title examiner $20 to give you a 'tour.'
Money well spent!
i usually go to my town hall, and type the persons name into the computer and any leins will come up, also it will say if any have been paid. then i usually call the tax collectors office to make sure their isnt any outstanding taxes, and if its an old house i call the health dep. to make sure their isnt any lead paint or espestos flags against the house. do your homework and everything will work out. JEB.
Here in WA, and I suspect universally, the foreclosing trustee orders and gets a title policy so it can make sure to serve all interested parties with notice of foreclosure.
So if you're buying FCs from trustees, at the auctions, you'd demand & receive from them, guarantees of full title by Warranty Deed or whatever is used in your state.
If you're actually buying PRE foreclosure from the owner (taking his property subject to) you're only going to be taking his/her rights, via QC Deed, so you'll have to order and buy the title policy.
[addsig]
In almost every case you have three points to look at no matter pre fc, fc or invest purchase, check tax department check local court house for liens check federal for bk. these are your three locations that tell you everything. If it is empty check with county water and health department. if they have been keeping the lawn maintananced they could have a lien not posted..
hope this helps
Brad