Closing on a performing 1st note - process, legal, due diligence
Before I pull the trigger to sign a Purchase and Sale agreement for a performing 1st note from FCI, I'd like to understand the ideal closing process.
Would you recommend I hire a local title company to preform a title search? I already have all the paperwork and I've researched the address heavily though the county websites and can see all the chain of assignments look correct. I'm not aware of any 2nds or municipal liens but I suppose the search would verify this.
How many of you get a lender's title policy (insurance) for notes? If so is this worth it?
What about taking the note assignment into a land trust within my LLC for an extra layer of privacy? Or is that overkill?