Performing Due Diligence

2 Replies

As a newbie looking to get into the game, it seems there’s a lot details not discussed when the gurus are telling us how easy it is to join in. 

One being Title Search. (Another is the fact that you don’t receive cash upfront from a hard money lender, but I’ll start another discussion for that) 

I never heard anyone talk about doing a title search on a property you’re about to purchase.

Most of the properties I’ve looked at are off-market thru a wholesaler. These are cash deals that need to be decided on and moved on quickly. It just occurred to me that we never talked about liens, or disputes, etc. 

How do investors normally handle this among other due diligence issues before buying a property? 

A quick trip to the courthouse (or looking online if you're lucky enough to have a county working in the 21st century) should take care of this for you. You can either pay a title company to do all of this for you (time and money) or learn to pull all of the property records yourself. Sounds like you might be leaning towards doing this yourself for wholesale deals that need to be moved on. Good luck. 

Thanks for the feedback. I was concerned because I’ve heard stories of title companies getting it wrong. Figuring if they could miss, so could I.