TITLE SEARCH MACHINE anyone??

14 Replies

Hello.

I'm doing about 70 title searches manually by digging in the public records before submitting my bid at the Palm beach county auction.
I need to know mortgages & any recorded liens.

I'm looking to get more efficient and have technology  on my side.

Anyone know about title search machine? 
Any info will be appreciated :)

There are services online that will take care of doing the lien searches for you so you don't have to dig through the county records all day. Always be sure to do your own Due diligence, and read over the supporting docs of the lien search, and ask questions if you don't understand something. Make sure you understand what exactly the scope of the search is, if they check for just liens & judgement or do they also check the tax status, federal tax lien search etc.. 

Medium screen shot 2014 09 26 at 3.23.05 pmDavid Sicherman, PBCHomeAuctions | (855) 888‑4853 | http://www.EasyTitleSearch.com

Interesting a Google ad comes up for me at the  bottom right of the page for just such a service.

I know FL has some very quirky tax lien laws but I never do a title search before buying a lien. Why do you feel it is necessary in FL?

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

Originally posted by @Ned Carey :

...

I know FL has some very quirky tax lien laws but I never do a title search before buying a lien. Why do you feel it is necessary in FL?

Ned,

It would be necessary if the OP was bidding at a mortgage foreclosure auction; you're assuming the OP will be bidding on something else.

Originally posted by @Ned Carey :

Interesting a Google ad comes up for me at the  bottom right of the page for just such a service.

I know FL has some very quirky tax lien laws but I never do a title search before buying a lien. Why do you feel it is necessary in FL?

 Any reason you do not do title searches before you buy Ned? What about an O&E?

Medium silverwood stacked logoChristopher Winkler, Silverwood Capital, LLC | 1‑949‑791‑7904 | http://silverwoodllc.com

@Christopher Winkler   I don't know what you mean by O&E?

With a tax lien I am in first position, other than an IRS lien. In buying over 1000 liens I have never run into one with an IRS lien. A bankruptcy is a very low risk but it is not worth the time for me to check.

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

@Ned Carey, you made a very interesting comment there. So can I ask, what diligence do you do before you buy your tax liens?

What he's referring to is an Ownership and Encumbrance Report. 

Originally posted by @Chad Urbshott :

What he's referring to is an Ownership and Encumbrance Report. 

 Yes, we get them for about 75 & its a lite title search, not all the way back in time.

Medium silverwood stacked logoChristopher Winkler, Silverwood Capital, LLC | 1‑949‑791‑7904 | http://silverwoodllc.com

Originally posted by @David T. :

@Ned Carey, you made a very interesting comment there. So can I ask, what diligence do you do before you buy your tax liens?

 David,

I drive by each property I bid on. I evaluate what I think the value is based my drive by, my market knowledge, comp research if necessary. This is my no 1 concern, how much is the property worth in it's as in condition assuming a worst case scenario. 

Based on my gut and sometimes the size of the lien I may do a little more online research. For very large liens I will sometimes check to see if there is an  active tax foreclosure. This would mean my lien would be voided eventually and I would earn no interest.

Medium crab1 copyNed Carey, Crab Properties LLC | http://baltimorerealestateinvestingblog.com/

Nice one Ned, sounds like you have it figured!

@David Sicherman  I purchased from PBC plenty of title searches :) You might know who I am. Always ordering rush ;)

@Ned Carey  

 Ye, I bid on mortgages. For me title search is the No 1 priority.
Last thing I want is to buy is 2nd mortgage Oh... and I need to pay the HOA , IRS , CITY or mechanical liens too.

Maybe I should go tax deed lien. 
Investment without title search doses sound like a dream :) 
Driving all over, checking out properties without starring at public records - good life !