Hello all in the BP community!
So I'm looking into the foreclosure auctions in the Spokane WA area and I have a question about how to perform a title search on a property that I may be interested in. What is a safe way to do this. Can I go downtown to the courthouse and ask for a title search on the property or sit at one of their computers and find the info? Is it free at the courthouse or is there a fee? Can I trust the info I get at the courthouse or should I play it safe and have a title company or some other company run the search so I am protected by their insurance?
Not sure what the right answer is and any of my online searches have just led to confuse me. Hoping someone who has some experience in this can chime in. Just trying to load my gun before the big hunt.
Jeff, have you tried calling a couple local Title companies in Spokane or calling the County Courthouse and asked some of those questions?
Hi Jeff, you are using the Auction.com app, right? Lots of great info there, and then I double check with First American Title on ones I am monitoring. Nefty in the title department is a great resource. They can also put you on the list for a nominal fee to see the newest postings. Good luck!
@Bryan C. I have not done that yet but that is penciled in on my calendar for tomorrow. I like trowing the question out on the forums first incase it brings up anything I did not think of to already do.
@Melissa Murphy Yes I am looking at Auction.com and have seen some interesting prospects that would fit my portfolio. I don't really want to pay for a title report too soon from a title company and then the auction gets pulled for what ever reason. Im curious if there is a safe time to pull the trigger on that or if its all a gamble? Melissa any experience with going to the court house for maybe a pre-check to see if it is even one to consider???
@Jeff Wittig , good to see you out there hustling! Our two colleagues before me are right as these are good places to start asking questions. I myself did a lot of this foot work as I was getting into my farming area.
As @Bryan C. stated going to your title companies will be a GR8 resource. I actually called and scheduled a meeting to meet with all three to introduce myself and get to know the Title/Escrow Manager(s). I explained to them my investing niche/strategies and told them I would utilize their companies for closing. It just so happened that the one title company that was the most receptive I did business with. This was a huge relationship. After that meeting the gentlemen at my title company was an awesome asset. I would call him and with out charging me he would give me a preliminary title work up on the property! It all starts with relationships!!! Unfortunately, he retired and I need to go in and meet the new guy to see if we can carry on the same information sharing relationship. One more tip, I actually always sent over Starbuck's coffee and donuts to his entire staff whenever he would do this for me! Needless, to say it was a small price to pay for such a GR8 service and especially for fostering his relationship!
I know our county/city records are a GR8 resource but fairly limited with what they can provide. I personally found that the title company was the one that could all but tell me almost everything I needed short of paying for a full report. However, every county/city runs their systems and what they provide differently. So it might be worth your time to go down there and introduce yourself and explain to them what you are looking for and see what they can and cannot provide. Glad to see you putting in work. Hope you find what you are looking for and here is to wishing you nothing but GR8 success in your search! Keep us posted.
@Tony Wooldridge great information Tony thank you. Today I was able to spend some time on the phone and call down to the Spokane County court house. After calling the wrong section and getting shuffled around a few times I found my way to the auditors office public records division. I spoke with someone in that section that informed me that I can come down and do a title search on their public computers at no charge. She said if I want to print the info that they can print it for me but charge $1 a copy . Tomorrow morning I have on my calendar to head down to the court house to do a title search on about 5 forclosure properties that I am interested in. I also plan to later on (closer to auction date) do a title report at a title company to CMA and to compare the information I get from both places and see if they are the same or if one is better than the other.
I will keep everyone informed of the outcome as I continue through the process in the next few months. Thanks again for all the information and knowledge everyone.