All Forum Posts by: Colby Lee Bodoin

 Thanks Zack I will certainly keep that in mind!

 There are many purposes for running title so it is kind of a broad question but I primarily focus on running title to confirm the ownership of oil, gas and mineral interest for either acquisitions or leasing or for real estate in order to close purchase and refinance transactions. For investors you might want to run title as a means of generating leads, seeing what might be attached to the property as a means of negotiating, or if your buying properties in a tax sale etc. 

@Ryan Snelson

In almost all cases county tax liens eliminate junior liens as to your interest in the property. The lien if it is not satisfied would still be the responsibility of the original owner but would now be unsecured debt. This is why most lenders will collect and hold taxes in escrow to ensure their collateral is protected. Because this has went to tax sale it would appear to indicate to me that the note has probably been satisfied. Since the lien is from 1993 the first thing I would check is to see if the original note has a final maturity date if that date has passed and there have been no extensions or modifications then most likely the note has been paid off. If no release was filed (which is quite common) the county may have listed the bank as a party in the tax suit as a means to notify them that this property was to be sold at a tax sale. If you want to market and sell this property a title company is going to require a release so you could reach out to the bank to acquire one or you could file an action to quiet title.  Hopefully this helps!

Note: I am providing this advice solely as a matter of opinion and assume no  liability for the accuracy of this advice nor any omissions or errors that it may contain. 

I am new too so I'll be learning alongside you guys! Good luck!

Those time frames seem reasonable to me here in Austin, Texas we close many deals within a 30 day window so I am not sure what the hold up would be. Unfortunately to some degree you are at the mercy of the sellers especially since you agreed to the extension. Per the contract they have until the end of that extension to complete the deal. On your next purchase you could try for a quick closing but if you do this it is very important to emphasize this to your agent, lender and the title company then negotiate it into the contract. On the note of the "emotional side" of the transaction that is quite common not everyone is approaching the real estate transaction from the standpoint of the buyer/investor most times it is an emotional time either because of death, divorce, attachment etc. I always try to remember there is another person on the other side of the transaction and not just $ signs. Hopefully your closing goes smoothly and you can start making money soon! Keep us updated and good luck!

I am a title researcher by trade message me and I can see what I can do to help you.

I just wanted to introduce myself to everyone and give everybody a little bit of information about myself and my goals. My name is Colby I am 28 years old and reside in Austin, Texas. My background is in title research both in oil and gas and more recently in real estate. I have had success investing in oil and gas interests and naturally being in the real estate industry allows me a "front row seat" to certain aspects of real estate that I am hoping can help me on my path to investing success. I look forward to learning everything I can and assisting other members here in anyway I can reach their goals as well!

If anyone needs advice/help researching title that is my area of expertise primarily in Texas but many of the concepts translate. I am new to the investing part of real estate however so I probably can't offer much assistance there yet!