title search on all auction parcels?

Question

I'm interested in bidding on 4 properties at the yearly upcoming auction in my county--how have others dealt with title searches when there are mulitple homes of interest? to title search them all would be very expensive, esp. if i dont get them .is it nesessary to search them all? last year i bid on 1 parcel , title search was $200, a nd i didnt get the house. how much do you typically pay for a search? I'm not really sure I want to do the search myself, with no experience . thanks very much.

Account Closed · Answer

Marc,

Yes, you have to do title search on all 4 properties. Some files are very simple, and some can be complicated. I cannot say much about New York because I know nothing about your foreclosure process. You might want to search for someone local to show you the rope. You can do the title search yourself at the county recorder's office. If the file is too complicated, you will have to pass on that deal.

Just like everything, if you know it, it's easy. If you don't know it, it's hard. If it's over your head, pass. Some people specialize on complicated deals, and that's how they make the big bucks.  I wish I could be more helpful.

Matt Weinberger · Answer

Hi Marc,

Not sure what state you are located in (seems like you may be in New York from your signature), but as a NY real estate attorney I would highly suggest getting a title search on all 4 properties. I know it's a monetary hit, but it can save you from headaches in the long run. 
If you need any help or want to chat about it let me know. I'd be glad to help you.

-Matt

Marci Stein · Answer

You make alot of sense-thanks.

Steve Babiak · Answer

Further reading on this topic is in the next link; some threads there already give some approaches to your question:

http://www.biggerpockets.com/forums/41/topics/68977-foreclosure-auction-sheriff-sale-and-trustee-sale-faq