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.
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