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Updated about 10 years ago on . Most recent reply

Account Closed
  • Investor
  • Philadelphia, PA
0
Votes |
17
Posts

Chester, Montgomery county PA auction,foreclosure title search

Account Closed
  • Investor
  • Philadelphia, PA
Posted

Hi,

I'm looking for some expert advise as I'm starting to invest in real estate. I understanding few basic things but not details so can someone please help me clarify things :

1) What does title search includes ?

My answer : Mortgages, Liens, Mechanics Liens, Judgements

Grey area : You still need to make sure that School, County, borough , HOA/COA has been paid. Not sure about IRS liens

2) What's the priority of these Liens ? My understanding is when bank forecloses the house, all lies gets wiped out. The only thing that I know that if second mtg foreclose, then First one still remains.. Does anyone have line items by order and info on which one gets wiped out and which one remains there ?

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