Residential Real Estate Broker · Venice, FL · Member since 2016 · 11 posts · 14 votes
I'm looking at a foreclosure property going to auction next week would anybody recommend that I do a full title search before I bid on it it looks like I need to put an estimated 5% down and then pay the balance by the end of the day I have bought one other at foreclosure auction and the title was fine. does the title usually come back good after a foreclosure auction brought on by the first mortgage or? Any advice would be greatly appreciated. I've seen the house and I think I will not have any problems fixing anything so that I'm not worried about.
Real Estate Investor · Memphis, TN · Member since 2016 · 940 posts · 695 votes
9y
@Trevor Dreilich - We always do a title search before we purchase at auction. I don't have enough capital to tie it up in a house with title issues. We do it all ourselves through trustee's website. You might also want to make sure it is just 5% down. In the last year or so, our county's auctions now require full payment at the end of the auction or the property goes to next highest bidder. I'd hate for you to lose your bid because of a technicality like that! Good luck!!
Real Estate Investor · Memphis, TN · Member since 2016 · 940 posts · 695 votes
9y
@Trevor Dreilich - We always do a title search before we purchase at auction. I don't have enough capital to tie it up in a house with title issues. We do it all ourselves through trustee's website. You might also want to make sure it is just 5% down. In the last year or so, our county's auctions now require full payment at the end of the auction or the property goes to next highest bidder. I'd hate for you to lose your bid because of a technicality like that! Good luck!!
Residential Real Estate Broker · Venice, FL · Member since 2016 · 5 posts · 3 votes
9y
Thank you so much. I guess I'm going to have to learn how to do a full title search myself. I guess I will ask my closing attorney to do one for me the sales on the 22nd I will just pay her I think it's off 75 or $100. How did you learn how to do title searches?
Investor, flipper Boynton Beach, FL · Member since 2015 · 23 posts · 3 votes
9y
I'm in palm beach county Florida. And the way I do it is go to your county clerk website. In palm beach is the palm beach clerk.com . Look for the link to officcial records , then by the last name of the last owner and name look for all the documents related to that name . Then filter the documents by legal description of the property you want and you will find in there , mortgages, deeds, hoa liens , tax liens , water liens , etc