Help from Massachusetts Investors, How do I find out which homes were bought in cash?

26 Replies

I live in the Saugus, Massachusetts area and I am really starting to get a great feel for home prices. I have a database of Sold Properties started and it has 230 properties in it.

My two questions are:
1. How can I find out which Homes were bought with Cash?

2. I know a Realtor may have this information but in Massachusetts is there another way?

If I knew this information, this would help me even more than just having a database of Sold Properties.

Your help is greatly appreciated :mrgreen:

Hello Ronald! It would be helpful to add a title agent to your team. They have similar access to files that Realtors do. Their files can demonstrate the downpayment and outstanding loans on the property, where they're from, and the date they were incurred. If there are no loans, the file should show the sale price and date the full amount was received if paid in cash.

When a house is purchased with financing in a mortgage state, there are at least two things that are recorded with the county: the deed that shows the change in ownership, and the loan (actually a lien that goes with the loan) and who provided that financing.

If it has no financing - as in all cash - then one of those earlier items (lien from the loan) will not be needed and so it will not be found when you examine the public records.

Thanks Hazel for your reply. Yes, I guess it would be great to have a Title Agent on my team. I am not working and I have no money.

I am trying to Bird Dog in my area hence the reason for the Pre-foreclosure lists that I am building.

The only thing about the Title Company that stops me now is MONEY. They probably want some of it in order to provide me with the Cash Sales. Thanks for your reply!

Thanks a lot Steve:

You know it always amazes me on how we overlook things that are sitting right in our faces!

I had to ask myself, why didn't I think of that, especially since I am looking at this data almost daily.

Thanks for the quick reply, Steve

Hi Ronald, it shouldn't cost you anything up front to work with a title rep. I have a few I've found through networking that look things up for me for free. It depends on what they expect--referrals for clients, etc. Best of luck with starting out, I know it's can be tough balancing a full-time jon and investing!

What are you building this list of sold properties for?

Originally posted by Bruce Irving:
What are you building this list of sold properties for?
Most likely in order to build an all cash buyer list to wholesale properties to. That is what I would use it for. :wink:

Hi Ronald I am an investor friendly agent. I shoot me an email and I can answer any questions and help you meet your goals
Kenny

Originally posted by Ken Madill:
Hi Ronald I am an investor friendly agent. I shoot me an email and I can answer any questions and help you meet your goals
Kenny


Ken -
Part of the point of the forums is for people to share information here so others can learn from the responses as well. If Ronald has questions, he is more than welcome to contact you, but otherwise, hopefully you'll help answer any questions here. Thanks.

If you want to figure out if an investor paid cash for a property in massachusetts you can go on the website for the county and look up the property ,if there is no mortgage listed and only a deed then you know that they paid cash...the registry website for boston for example is suffolkdeeds.com...it is free to search and everyone has access..you can also get a good line on hard money lenders trhis way as flippers who use hard money will have mortgages on thier property from the lender

Yes-the mortgage is usally calleld a " Security deed" and it should have been referenced with book number and page number --on Warranty Deed. --So you know if there is a
mortgage --if you need to know how much is the loan amount then go to security deed and find all details --
You may be wasting time--most of the homes sold will have a mortgage -- even if invetsor paid cash -he would have sold to some one else in short time or refinanced ---

USE this info for comps and enighborhood analysis-- only --

If you want to find --if the buyer is an Investor and not Owner Occupied--then check each property with tax department to see where they send the tax bill --if it is differnt then the property address --then you know that owner is an Investor and now you have his ( her ) mailing address to contact.

There are many ways to Build Buyer's list --read other articles here in BP --

Good Luck

Www.salemdeeds.com that's the county website for Essex county good luck...

www.masslandrecords.com has most public records also.

I am an agent in Berkshire County. We have a different MLS than the rest of the state. If you need any information out this way, shoot me a note.

That info is real easy to find on listsource.com...

1) Go to create your own list
2) Pick geographical area
3) Go to Property link
4) Click on Last Sale Date
5) Use their default for 3-6-9-12 months
6) Click on equity percentage
7) Type in 90-100 percent...
8) Go to Options and if desired click absentee (this gives you the investors buying with cash)

I think it is not free....

Originally posted by Michael Quarles:
That info is real easy to find on listsource.com...

1) Go to create your own list
2) Pick geographical area
3) Go to Property link
4) Click on Last Sale Date
5) Use their default for 3-6-9-12 months
6) Click on equity percentage
7) Type in 90-100 percent...
8) Go to Options and if desired click absentee (this gives you the investors buying with cash)

Well if your looking at specific properties in Mass you could go here:

http://masslandrecords.com/malr/index.htm

You can then check who the guarantee is and this should give you a good idea who paid cash.

good topic and nice comments

@Ronald H. if you're looking for investors, I would highly recommend attending a local AREIA event. There are many in the area and no shortage of investors that attend.

Originally posted by Michael Quarles:
That info is real easy to find on listsource.com...

1) Go to create your own list
2) Pick geographical area
3) Go to Property link
4) Click on Last Sale Date
5) Use their default for 3-6-9-12 months
6) Click on equity percentage
7) Type in 90-100 percent...
8) Go to Options and if desired click absentee (this gives you the investors buying with cash)

Awesome, this will help me build a buyers list!

But once I get the list, what do I send them? Also target them for yellow letters?

Yes @Ronald H. www.masslandrecords.com. You can find the deed and the mortgage (if there was one) for any property that sells. The site is very tricky and each county has its own nuances, but if you search around hard enough you can find this info. for free. If you have any specific questions about the site post them in here and if you tag me I'll do my best to answer.

Originally posted by Michael Quarles:
That info is real easy to find on listsource.com...

1) Go to create your own list
2) Pick geographical area
3) Go to Property link
4) Click on Last Sale Date
5) Use their default for 3-6-9-12 months
6) Click on equity percentage
7) Type in 90-100 percent...
8) Go to Options and if desired click absentee (this gives you the investors buying with cash)

That is awesome! It will save a ton of time sifting through records. Thank you Michael!

I want to thank, all if you for your responses. I did not check this site and this thread that I had started for a couple of years now, due to unforeseen factors, and some of the replies are great. They might help out others.

I am, as I was aware of masslandrecords, salemdeeds.com. I have found using Salem Deeds or salemdeeds.com to be easy to a point.

To locate leads of people in distress sometimes can be time consuming and confusing.

Locating leads of home owner's, who have paid off their mortgage on Salemdeeds.com, and now own their property, free and clear, is even harder and more TIME CONSUMING.

I think LISTSOURCE, along with scanning the newspapers, pubilc notices, business cards, and door hangers might be the best. Later I can expand into a website, toll free number and automate, in order to eliminate the tire kickers.

Thank you, all

One very quick way to find buyers is to go to a local REIA and take a few good wholesale deals and stand up in front of the room and announce I have wholesale deals please come talk to me after the meeting. You will almost always be surounded by buyers immediately.

Originally posted by @Michael Quarles :

That info is real easy to find on listsource.com...

1) Go to create your own list
2) Pick geographical area
3) Go to Property link
4) Click on Last Sale Date
5) Use their default for 3-6-9-12 months
6) Click on equity percentage
7) Type in 90-100 percent...
8) Go to Options and if desired click absentee (this gives you the investors buying with cash)

Hi Michael is this website only for California? ,

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