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Updated over 11 years ago,
starting out 'due diligence' advice
I am considering my first foreclosure auction purchase in san joaquin co. California in 100-200k range. After going through excellent compilation of past forum posts here, I have decided to restrict my attention to trustee sale with clear warranty deeds.
Here is my problem.
Title search+lein search cost about $99 per search at some online sites and they require 2-3 day. Can I trust them to be complete?
Many auctions are routinely cancelled or postponed. So even if I choose to evaluate a few of these a week, I could easily spend 1000s before I win a bid.
If you do due diligence yourself,what is the complete list of checks?
1. Title: At County recorders office search for senior deeds without matching reconveyence. Ensures this is first lien, also ensures owner has clear title. Check for any other recorded document for owner.
Where do you do search for liens that are not recorded ?
2. Search for IRS liens, state and local Gov. Liens? By calling IRS/state/city??
3. Search for any HOA lawsuits/liens ??how call hoa ?
4. Search for any mechanic's lien?? How?
Did I miss anything ?
How did you do the lein and title search when you bought your first foreclosure ?