All Forum Posts by: Chris Mcmahan

And i believe you can get a tirle search done in as little as a day or two if they know its a rush. But you definitely have to do that before you win the auction.

0 Votes

Ya i think they can differ between judicial and nonjudicial sales.. but the ones i go to in vegas are hosted by auction.com, and you have to pay directly after the auction the entire amount.

0 Votes

Originally posted by @Derek Montes:

@Chris Mcmahan

It’s very true that there are always some kind of surprise with REOs and their titles having some type of clouding, whether a lien, active code violation accumulating fines, or some other type of encumbrance that needs to be cleared. The banks sometimes take care this prior to closing but generally speaking they would prefer to pass this on to a buyer- anything that the bank can avoid spending on. Their goal is as much profit as possible.

Now with getting title searches done- find a title company that will give you a bulk pricing option so you can do title searches on multiple homes.

Thanks for the advice!

0 Votes

Originally posted by @David M.:

@Chris Mcmahan

Well, is your market that good you have that many prospects you want to do a preliminary title search? To be upfront, I'm not an expert on foreclosures and auctions. I've thought and tried to do it, but both don't like the risk and haven't really found a good deal. The title search is the last thing I would have done before going to an auction. But, maybe its just my methodology of just finding a one or two good, solid deals.

Absolutely, and thats exactly my hang up. Auctions are twice a week with usually about 15 houses each day going in, after i analyze the deals i usually have 5 per day im planning to bid on, so thats 10 a week, or 2500 a week at 250 title search per house! And then the kicker is last minute most auctions are cancelled or postponed and theres usually only 1 or 2 i may be able to bid on, so its obviously not worth title searching so many when its unlikely youll even be ablentonbid on it

0 Votes

Originally posted by @David M.:

@Chris Mcmahan

0 Votes

Hello community! I just had my initial call for the pipeline program but they also have a newer 90 day apprentice program. It sounds like a great segway into the pipeline program. Just looking to see if anyone out there has tried this program yet and what are your thoughts and experiences.

Thanks!

Chris

0 Votes

Is it possible that you are denied title insurance due to say an unrelenquished deed or something?

0 Votes

Ok, im so tired of scouring the internet reading articles and so much conflicting or off in the weeds information.

Im looking at alot of foreclosures and REOs, i know you must perform a title search for leins and encumbrances. So.. ive called title companies about this and the fee is usually around 300 per house! Obviously thats not feasible when looking at dozens of houses a week. So what do you do!?

Also it seems to be a common misconception that REOs will be free and clear titles, but ive read that seems to not always be true. Clarification?

0 Votes

All Forum Posts by: Chris Mcmahan

Chris Mcmahan has started 5 posts and replied 28 times.

Post: How to title search for free on foreclosures and REOs

Post: How to title search for free on foreclosures and REOs

Post: How to title search for free on foreclosures and REOs

Post: How to title search for free on foreclosures and REOs

Post: How to title search for free on foreclosures and REOs

Post: Blair Halver's 90 Day Apprentice Program

Post: Questions with buying homes on Auction.com

Post: How to title search for free on foreclosures and REOs