Finding out mortage balance on property

[Chris Eidson]

What is the best way to find out how much a current owner's original mortgage was?  Most often the appraisal district will not have a document with the mortgage balance? 

[Patricia Steiner]

A couple of ways: look up the owner in the online official records of the county the property is located in. It will show all the records filed under their names - including mortgage holder and loan amount. You can even view a copy of the Mortgage and Deed on most big cities' online official court records. Secondly, if the property has been on the MLS at some time in it's history, a realtor can pull up the "Property Details" from the MLS which will show previous owners, what they sold/bought for, as well as mortgage balances.

I recommend knowing this information BEFORE submitting an offer - and actually before I even look at the property for the first time.  Knowing what it was purchased for, when, and how much the mortgage was/is - are all critical negotiating factors.

Hope this helps...