Subordination Agreements


#1

I continue to follow a property through the process.? Auction is scheduled in about two weeks.
There is a first past due who has filed notice of default and notice of trustee sale.? No second that I have identified by searching the county recorders indices.
I just want to verify that if there is no second then there would be no one for the first to subordinate to.
?
The real issue I am trying to address is there anyway I could have missed a subordination agreement?
?
Thanks again.


#2

Did you find a subordination agreement in your title search? They are pretty rare, but I have encoutered a couple, and they would have cost me a lot had I not found them. You can usually search by name and document type at the county. You may also be able to get someone in customer service at the title co to pull up the title plant chain and have a look. Finally you might want to consider ordering a preliminary title report on the property. Expensive if it doesn’t end up going to sale, but far cheaper than missing something.