title search question

[N/A N/A]

When purchasing a foreclosure at the auction how do you guys perform the title search? Do you hire a title company or do it yourself? I'm not educated enough to perform the search myself.

I feel that if I hire a title company then I could be wasting money on the search because I've done a few test runs on properties only to find out that the owner has claimed bankruptcy or has settled with the lender when I arrived at the courthouse. Now if I hired a company to perform the title search on these properties, then I would be out that money. So basically here are my questions:

1) How do you perform a title search for the foreclosure property?

2) How long does a title search take if performed by a title company?

Thanks
Pete

[Steve Babiak]

Here's the real problem with paying for any title search before auction: the VAST MAJORITY of properties scheduled to be foreclosed get a reprieve of some sort, rendering title searches on any of those worthless - but you still incurred the expense of the search if you pay for title searches.

Learn to do your own ...

Pennsylvania Sheriff Sales - Doing your own title search

http://www.biggerpockets.com/forums/41/topics/47830-bought-my-first-foreclosure-yesterday-despite-bp-advice-c-

http://www.biggerpockets.com/forums/48/topics/48126-title-lien-search

http://www.biggerpockets.com/forums/41/topics/29921-help-bought-a-foreclosure

http://www.biggerpockets.com/forums/103/topics/58702-purchased-a-hoa-foreclosue-now-what-

http://www.biggerpockets.com/forums/70/topics/49919-tax-deed-in-florida

http://www.biggerpockets.com/forums/41/topics/57660-which-liens-survive-foreclosure-

http://www.biggerpockets.com/forums/105/topics/50670-dancing-with-deeds-liens-notes-mortgages-and-the-like