HOW TO MAKE CERTAIN NO LIENS ON PROPERTY!

[Jerry Cinor]

Good evening guys!

Im fairly new to real estate as I’ve mentioned on my prior discussions. but, I’ve been learning a lot lately from BP and family/friends  who owns investment properties. 

and I was looking at a few properties yesterday on trulia and doing some analysis. My question is,

How do you make certain that the  property you’re looking at doesn’t have any liens of any kind on it?Beside word of mouth from the realtor and owner. 

I’m very concern about that guys. Specially without the experience. 

Thanks Brothers and Sisters!

🔥 away!

[Adam Adams]

I've learned the hard way that there are generally two types of title searches. 2 Owner Search, which is what you'll be getting for under $100. Then the 40-year search, which are usually done with title insurance. 2 Owner Search checks the liens on the last two owners. For example, when I bought a CFD from Harbour, they checked that property for liens with Harbour and Fannie Mae, the last two owners. What was not picked up was the lien that was missed during the foreclosure of the third owner. That didn't show up until we tried to sell the property and had to get title insurance they did a 40-year search. That's when the lien showed up. Why didn't Fannie Mae see it? Because their attorney screwed up in the foreclosure. Why didn't Harbour see it? Because the title was transferred with a Quit Claim Deed.

So just know that going in, 2 Owner Search works, but not 100% of the time.