All Forum Posts by: Bryce Davis

I am not trying to revive this thread but I wanted to share a story.

I was helping a buddy get into investing. We do all the homework look at countless houses. It comes time to pull the trigger. I tell him ill need your half of the money to buy the property.

It is at this point that he advises me his money is in a money market account and it would be difficult to get out.

Point of the story don't let people waste your time. I wanted to charge this joker for my time that was waisted.

@Chris Martin

Make you want to only bid on upsets. Have you considered that?

@Wayne Brooks

Are there key terms to look for to ensure you find all the changes? Name of deeds etc...?

How do you find subordination agreement from a previously recorded mortgage?

@Steve Babiak

Are subordination agreements always recorded?

@Jesse Tsai

I think they call they something else where I am, however, I will use inductive reasoning to figure out the terminology.

@Tom V.

I actually just looked at that. It is not offered in the Southeast.

I am looking into Realquest.com and Redfin right now, however i do not think it would solver my problem of insuring the primary mortgage is the one foreclosing on the property.

In the eastern part of the United States we may still have the use the manual process. Anyone have an idea of another automated or even a manual process to verify this information?

I am in the process of bidding on my first courthouse property. I am aware of the due diligence, title search, comps, etc...

I also know how some second or third lien holders may be the ones foreclosing on the property. An example would be someone took out a 2nd mortgage for their pool, you bid on the auction thinking you are bidding on the 1st mortgage and get stuck with the 2nd mortgage.

I have online access to the research the deeds. I do not know how to correctly identify the which is the 2nd and the 1st. Granted I could look at the higher amount, however that is not accurate.

Could someone please point out the method to identify what mortgage is filing for foreclosure?

Also please do not tell me I should get a title company to do the work. I am doing that as well. However, I want to be able to weed out the properties I am not interested in before paying a title company.

My brother did this on a house he is living in. OMG what a disaster.

He is spending more money than it would have taken to just buy a house. You got to figure out that it will cost thousands to move. Then you will need to redo most of the walls due to cracks from the move. More than likely the whole house needs updates and anything of value will have been stripped.

If it is brick, the bricks would have to be stripped. In my opinion.

RUN don't walk away from this.

Anyone else have any feedback? Could really use the help.

According to my research. You can verify liens by the following.

Using this method Search the county recorder, clerk, or assessors office . DOES IT PROVIDE ACCURATE information for all liens?

I have a quick question.

I went to an auction that had the following data.

Judgment Amount: $11,345.63

Bid Amount: $10,000.00

As you can see the bid amount was 10,000

Does this mean that the total of all of the judgements above was only 11,345?

Or would I need to go an research what liens are on the property. The lien would be the winning bid plus the liens stated above?

Feel free to reach out via PM.