Hello BP Community,
I would really appreciate some feedback on a program I am planning on designing.
The concept is a computer program which scans through Civil Court records to ascertain junior and senior liens and if there are any other liens on the property. This is to be utilized by people who are planning to bid in the online foreclosure auctions and even people who do Driving for Dollars.
It would probably be a pay per month program, where the investor can use it unlimited times within that time period.
The background to this is that I used to spend countless hours researching the liens myself personally through online court records and it was a very time consuming process. I thought it would be so much better to have a computer program which does it for me and I have worked out a system for designing it.
It would be great to get some thoughts from people as to whether it would be a useful tool in the marketplace.
@Nat Chan You need to be sure that your program captures ALL liens. For example, I don't think a mechanic's lien will come up in a court search.
Here in MA, a mechanic's lien is filed at the Registry of Deeds without a court process.
Even more valuable would be a way to run title. I have a SFR under contract and found that there are 9 deceased people on the title who never went through probate. Our attorney is now doing the probate work, but closing is delayed at least 2 months.
You forgot land records.
What about property transfers and the effect thereof? Prior owner liens?
Title examination is still very hands-on in many jurisdictions, Scanned docs.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing