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Updated over 7 years ago,
Due diligence buying from auction. In particular Los angeles
Im seeking advice from experienced investors buying at auctions (LA in partiucular) as to what type and to what extent they do due diligence on their target properties. Obviously title search needs to be done to discover any and all liens, do you do this yourself using some sort of online service or software or are you running title on each property through title company? How common do you see title issues missed? How throughly do you physically inspect properties that you arent able to gain access to the interior? Do you still go by and do a walk around even if there still may be occupants in the property? How much risk are you willing to take on a purchase considering many unknowns could exist due to not having full access to a property?
Anything else in addition that you can add is much appreciated! Thanks