All Forum Posts by: Account Closed

Hello Bigger Pockets community! Very grateful for this resource. 

We bought our first property through Auction.com and even though the process was smooth, I have been worried about encountering other leans other than what is on Public Record, which only amount to HOA fees.

This was triggered because the one thing I did not know was that 2019 Taxes were not paid (not sure if Auction was supposed to pay them but at this point they are just saying they should not have to), which increased my worry as a newbie. 

I contacted a Title Company and they offer title insurance but it is almost $2K. 

That said, my questions are:

1. How do we triple check that our Deed is clear aside from what is on public record? 

2. Since the title company mentioned they would do a full blown search on names, titles, judgements, etc, should I hire them? We received the deed and apparently the house if fully ours now but at this point I am confused. 

Any help is appreciated, especially if you remember your first deals as an inexperienced flipper : ) 
Grateful, 

Thank you so much Michael and Greg! I could guess a thirst for fees but not it has been confirmed. Thanks again!

Hello Bigger Pockets community! We got our first flip that is located in a neighborhood with an HOA. Upon requesting the information from HOA, we were told a resale certificate has to be ordered.

How does this work for foreclosed properties sold at an auction? Clearly the owner did not have a chance to provide us with that information nor to order it. 

Any insight is appreciated, 

Hello Jackson, thank you so much for reaching out. Fortunately we got a policy with our car insurance provider. Shall keep you in mind for future needs. Very grateful, 

Hello Todd and Lien, thank you so much for your insight! Will definitely continue to search. Geico did offer to insure but Auction.com told me it was one of the risks of buying foreclosed properties. Excited but nervous about this process lol. 

Hello, my wife and I finally bought a property on today's auction in San Antonio, Texas. We are new to this but are happy to learn in the process. We bought the house with no mortgage nor loan on it and when we tried to get a homeowner's insurance through lemonade.com they said they do not insure homes without a mortgage. 

Our questions to crowdsource are:

1. Between today and when the deed arrives, are we already liable should lets say a fire take place? 

2. Any non-bureocratic home insurance recommendations for properties with no mortgages? 

Any insight is appreciated!

Bigger Pockets Podcast, thank you for bringing us to this point. 

Hello Mike, Ellis and Rick, thank you so much for your insight! Definitely appreciated. I called an agent a few weeks ago to see what foreclosure inventory he had and got little attention from him. 

How does one find out the liens on the property? Should we go to a title company? 

Grateful, 

Daniel & Rebeca

Hello Bigger Pockets community! 

My name is Daniel Herbruger and my wife Rebeca and I are ready to buy our first property to flip. We will be attending the Courthouse Auction next week and we were wondering if you guys could share some best practices to get the most out of it. 

Any insight is highly appreciated, 

Rebeca and I are both from Guatemala but we live in San Antonio, Texas.