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Updated about 4 years ago on .

User Stats

17
Posts
5
Votes
Kimberly Lima
  • Accountant
  • Westport, MA
5
Votes |
17
Posts

Foreclosure/title search- OUTSTANDING BALANCE?

Kimberly Lima
  • Accountant
  • Westport, MA
Posted

Hello!

I'm very new and starting out but recently came across a property that is moving to auction in 2 weeks. I'm connecting with an attorney on the title search which leads me to my question of doing title searches on your own. I've gotten really good at reading documents through registry of deeds but my one obstacle is finding out what the CURRENT balance is on the existing lien. For example, this property has a HELOC, without contacting the lender, I have no idea what they could potentially owe on it!

Also, any advice on the auction experience would be helpful. I know the deposit required, what the terms of final payment are, etc. but the actual experience will be completely new to me.