All Forum Posts by: Jing Yang

Is the property owned occupied? Direct mail or door knock works if it is owner occupied. Otherwise use skip trace to get the contact information of the property owner and other situation of the owner.  It might also be useful to find out whether the house is in foreclosure filed by the mortgage company. Once you reach the right person, try to approach the owner by offering some sort of solution to the issues the property is having. 

The risk of not knowing all the existing encumbrances (all kinds of liens or other interests ) - on the real property is really huge. It might not make the investment efforts worthless if the superior liens exceed the equity value of the real property.  The easier way is to look up in the records of County Clerk's office for the recorded mortgage or loan modification under the borrow's name. Depending on the state, foreclosure proceedings require original/recorded note/mortgage documents. Since most notes/mortgage change hands frequently, most lenders will get their instruments recorded.  If the self search does not turn productive, try the paid service on CoreLogic which gives a summary information on the property interest details. If you are really serious about the investment, use title company to conduct title search on the property to get a whole picture of all the liens and chain of title history of the property.