Auction buying in CA( newbie)

[John Khadiyev]

I love this site, so much info, so many options, but for me so many options create uncertainty. Looking at auctions to try and buy a property.
Question 1:What is the best way to check a title for liens or 2nd mortgage, title company? What is the cost per. Question 2: do most auctions give you sheriffs deed? I see some properties are called beneficiary sales, others are trustee. What is the difference?

[Marcell Z.]

John, I've been working with a company who purchases properties at the auctions in San Diego to fix and flip. By no means am I an expert on the topic but I do have a pretty good understanding of your questions.

A title company can give you the lien information for a property if you provide them with the address. One step better is to go down to your County Recorder's office to look up the information yourself. This is the most reliable source of information regarding any liens on a property because it is the information recorded by the County.

A Trustee is a third party hired by a lender to process the foreclosure. The lender is the beneficiary of the property because they are the ones who get the property through foreclosure when a homeowner has failed to make their mortgage payments as agreed in the mortgage note. The Beneficiary (lender) hires the Trustee to process the foreclosure. In CA, most auctions are known as Trustee sales because they are being auctioned by the Trustee.

Hope that helps