Title Searches

[Corey Hostetler]

Hey BP, My question has to do with Ohio Sheriff sales. My primary residence right now I purchased at a sheriff sale and just closed on our last residence. While @ the closing I was talking to the realtors and title agency and said I was lucky for not having any big liens against the property. Also I have now found BP and wanting to move into some fix and flips and was wanting to do my due diligence. I have talked to a few Title Agencies and the searches are going to run $120-$150. Is this pretty standard? Just wondering if other options are out there? Since at the next auction I have 4 or 5 prospective properties which could $750 before even going to auction. Any insight would be appreciated Thanks

[Mark Gallagher]

@Corey Hostetler Those searches are a little higher than we pay around here. We purchase at sheriff sale but typically we're pulling our own title searches. If something looks "goofy" we let the pros handle it. We know that at most we're paying 2 years back taxes, and depending on the municipality, a few months of water/sewer. If it has liens on it, it would only be a few thousand as well. We've never purchase anything with "tight" margins, so it's never really concerned us. We're only looking for large-spread deals, so even if we have surprise costs, we can cover it in our margin.