Lincroft, NJ · Member since 2016 · 5 posts · 2 votes
Hello all,
I have been purchasing homes for a few years now and renting them In NJ. As you know regulations are through the roof, especially here and I am
Starting to learn about flipping foreclosure properties. Most people
Recommend using title search companies and or title insurance but I see using a title search company for each and every property can be very costly. Is it worth it to do our own title search and then take out title insurance on a property if I bid and win the property? How does it all work?
Anthony
@Paul M. Rule #1 is you need to know the position of the lien being foreclosed.
If you have access to tax, judgment and land records, you can learn how to do a sufficient title search yourself. Clerks will be of little help and foreclosure notices do not indicate lien priority. If you cannot do a title search, you either need to pay a pro or you need to stay away from foreclosures.
Also wondering the same. Anybody knowledgeable about this? I understand it varies by county but I assume I can just contact the county via phone, email, or online portal.
Do you know of examples of what an official title search could uncover that I'm likely to miss? Interested in bidding on foreclosures and would prefer not to pay to check liens on each property considering that most auctions are usually postponed.
@Paul M. Rule #1 is you need to know the position of the lien being foreclosed.
If you have access to tax, judgment and land records, you can learn how to do a sufficient title search yourself. Clerks will be of little help and foreclosure notices do not indicate lien priority. If you cannot do a title search, you either need to pay a pro or you need to stay away from foreclosures.
@Amery Lamar what would be the best way to make sure I do not get into a bad deal with a sheriff sale as far as title searches / liens on property. Is there a way I can go about this that's affordable? Are there abstractors that can get this information for multiple properties and pay monthly services ? Average cost .. any and all information is welcomed !
@Anthony Mellone jr Hey, I’m going Through the same thing currently. Since I do see this question was dated back last year. Did she get a good resolution for this issue? Just wondering because I’m in the same situation now
@Anthony Mellone jr Hey, I’m going Through the same thing currently. Since I do see this question was dated back last year. Did she get a good resolution for this issue? Just wondering because I’m in the same situation now
Hi Christela and Anthony, did you manage to get a resolution to the title search situation? Wondering what's the most feasible method to search several titles. I know how to do it preliminarily but honestly I would like a professional opinion to back up what I find as a beginner.
