All Forum Posts by: Mark Enriquez

I've been thinking about this for 30 minutes, and think I understand. 

Are the title companies declining to insure the property or the transaction? Are they saying that they won't issue insurance on a property you are going to attempt to buy at auction? Because that makes more sense. 

But if you paid them for a search, and they refused to insure the property because the title is not marketable, they should tell you why.

it's kind of driving me crazy trying to fill in the blanks. please tell me more. 

@Vera Log if you're in cleveland, you can check the probate docket and read the filings. Look for a will and a list of heirs, and the letter of authority. You might also want to check the court approved inventory. You will find a ton of info in these filings. 

If there is an administrator or executor, look to reach out to that person t see if they would want to sell the property before it goes to auction. That way you can order a title search and insurance before you buy.

That's a bit odd. Did you receive the exam that shows the issue, or did they decline to simply perform the search? 

Even if they will not unsure it, you should have been able to order an exam. Very strange to me. 

I'm a title examiner. 

Hello,

I have definitely learned that the main thing I can do when working with people in foreclosure is to listen for and try to understand their needs. Not everyone will want to stay in the house: they just want to get rid of it. Some people will do anything to stay, while others will want to get as much money out of it as possible. 

What are some ways to accommodate people in foreclosure? What I am asking specifically is, are their deal structures you keep in your tool box to present to people as an option? I'm trying to spark my own creativity, and would love to hear some strategies that have worked for you.

thanks,

mark

*Ideal

Concerning pre-foreclosures, what do you look for? Aside from the pots of gold, what do you generally look for when seeking a property to approach? 

Are you looking at the equity (which is what I have been doing)?

Do you stick to one area of Cuyahoga County?

Do you look for houses that are run down but can have value added to?

Another question, which I suppose I should have asked in the first place, do you knock on doors, or rely on marketing to bring a seller to you?

I'm curious to the Cleveland wholesaler's method. I want to hear all about it. 

I've had quite a bit of success chasing down leads, and knocking on doors, even though the nervousness makes me nauseous. 

this comes up quite a bit, people worrying about the title of the house, and it is a legit concern. 

One way to see if there are liens on the house, is to take a look at the preliminary judicial report (unless you are in a state that does not file them, in which case I do not know). The PJR will have a "schedule B" and it will list the liens which were found in the title work needed as part of the lawsuit. In other words, snoop around in the foreclosure case. If you can't find the PJR, look who is listed as defendants on the complaint. If you see Capital One listed, chances are there is a judgment lien. If you see JPMorgan listed as a defendant, there is probably a junior mortgage. If you can find answers filed by those defendants, you will probably see how much is owed to each of them. 

If you are in a trustee state such as Virginia, then you will probably need to make friends with a title examiner who will only charge you 40 or 50 bucks for a current owner search. That's what I would do it for. 

As far as seeing the inside of the house. Knocking on doors is the only way I know. 

good luck!

@Jared Lichtin Yes sir, I'm finding quite a few deals out here. And I found someone to work with, so it looks like it's going to be a great year. I'll add you to buyers list. Will PM about your target areas. 

thanks,

mark

Hello,

I currently have far too many self generated leads (Hundreds) to pursue alone, and am seeking a wholesaler in Cuyahoga county to partner with.  I need someone comfortable using a personalized letter campaign along with a blast campaign, and is also comfortable knocking on doors.  (I only have leads on pre-foreclosures)

My approach is creative and technology based, so a computer savvy person who can think outside of the box will be a good fit.   My approach has also proven to be successful, too successful for me to handle by myself. 

If you already work for a company wholesaling, this might not be a good fit, as the work volume might require a large commitment.

Please feel free to PM me. 

thanks,

mark

@Brian Garlington thanks so much!