Title help, for trustee auctions in Cal.


#1

New investor here, just started buying at the auctions in southern California. I find one of my problems is with preliminary title searches right before I buy at trustee sales. Are there any title company’s that can provide a quick over the phone whether or not the property has back taxes, liens, etc…? Factors I can take into account while crunching my numbers. What is the best way in dealing with this?

I’d be willing to use the same company for title insurance for all properties that I buy at the trustee sale or just provide a fee. Any help on this matter would be much appreciated.


#2

Taxes you can look up online at most county web sites.
What I would suggest is that you go to sales after doing a cursory check, assuming the property you might be interested in is the first lien. Then see if it would go for a price you would have been willing to pay. If you find that prices paid are more than you would pay, you will know the groups that are paying close to retail would be pricing you out of the market. If you find there are a couple you would have at least paid as much as the top bidder - then you can start doing more in depth research, Foreclosure Radar, while not providing a title report as such, does provide enuf info, in most cases, where you can figure out whether it is a first or 2nd foreclosing. You would need someine w. some experience to help you interpret some of the info. That wouldn’t take more than an hour to learn.


#3

I currently provide this service for many groups that purchase properties from the court steps in California. Give me a call we can talk about your specific needs.

Kevin Collier
619.302.3745
Kcollier@ltic.com


#4

Hi Mike, thanks for the response and advice, I’ll keep that noted.

Kevin, I’ll get in touch with you early next week. Thanks!


#5

Even if you have someone do it for you, or find a company that will give you verbal confirmation over the phone, it is super important that you understand all the issues involved. This thread, while super long, touches on many of the issues you may encounter: http://www.foreclosureradar.com/forum/buyers-and-investors/buying-auction/which-liens-are-not-wiped-out-trustee-sale. I suggest reading the whole thing.


#6

Appreciate the link to that thread Sean, thanks.