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Updated over 8 years ago on . Most recent reply
How to do title research for auction properties?
Hello Everyone!
I'm in Olympia, WA area. I've being doing rentals for a while, and like to get into other REI. I've done some research regarding buying auction property, but still missing a few puzzles here and there, specifically surrounding title research topic. I also tried J&L Scott foreclosures and other services but nothing work for me so far.
My question is do people use lawyer or title company for title research or do they do it themselves? If you use a service, how is the fee get handled? Thanks for reading and helping!!!
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- Lender
- Lake Oswego OR Summerlin, NV
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@Ned Carey @Curt Davis you absolutely would NOT use an attorney for this.
most trustee auctions sites like northwest trustee services.. will have the TSG posted right on the site you buy it for 50 bucks... WE DONT use attorneys here like you guys do. Attorneys here cost way to much money.. they charge 250 to 500 an hour and would charge a couple grand to do a real title search.. LOL.. I GET THEM FOR FREE FROM MY TITLE COMPANY.
In addition the stuff that you guys have to look out for is simply not an issue in our area.. Especially anything related to utls those are all wiped out.. any city liens etc etc.. the ONLY thing that comes senior to a 1st DT or mortgage is Ad valorum tax's and IRS liens. ( which IRS sunsets as you know )
pretty straight forward out this way.. you guys have it hard were you work that's for sure.
But that's also why our sales are so competitive its pretty simple to go and bid and be confident you OK.. CAn there be a problem yes but its rare.
- Jay Hinrichs
- Podcast Guest on Show #222
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