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Updated about 17 years ago on . Most recent reply
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Title search before going to Auction?
Hello all! I have been searching my legals for foreclosures going up for auction. There's an auction Dec 3 that I am interested in attending - need to go just to observe & learn - but there are a couple of properties that my husband & I are interested in.
Just want to make sure I know everything before I get there. I have researched both properties on the county website, do I need to get a title search on these before I go to auction and bid on them?
One looks like a foreclosure due to default in mortgage. The 2nd looks like foreclosure (although I don't think they use the word foreclosure in the legal notice) - because a loan was taken out & had the property as 'security' or 'collateral'. I'm assuming in a case like this I have to make sure there's not a first mortgage - or would there not be a first mortgage if this bank is 'selling' the deed to the property. In this particular one - the research I have done on my own - looks like the property was paid for cash - no mortgage co. showing up or no security deed.
Thanks for any and all advise!