How you search the title before bidding on Foreclosure auctions?

[Artem Pustovar]

Hi,My name is Art. Im from Portland Oregon.I have experience buying on open market and from auction.com .now I want to buy on foreclosure auction. I understand probably this is most risky and the same time most profitable way to get the best deal.

First ,because it is live auction and only people who physically come there are able to bid.

Second, you need to have cashier check and pay immediately.

3. There is no any title insurance provided and title search and risk is on the buyer.

This part is a problem for me so far. Please advise how do you do accurate title search before you bid.I understand the title company is the easiest way but at the same time it’s the most expensive to pay each time 200 bucks for the property which maybe even will not reach auction and can be canceled anytime.

I am asking advice of experienced foreclosure auctions buyers.please help. thanks.

[Steve B.]

@Artem Pustovar call a title company in the exact county the property is located. Make sure you deal with an experienced agent who can tell you the lien order and if the holding seller has extinguished the other liens. There are a few other things they can Check as well. By the way you can do all this yourself at the county seat but you need to know what your looking for. A title search will cost about $100 or free if you have an insider