What concerns should I have if there is a second recorded on the same day as the first. A 80/20 loan


#1

Looking to make first auction purchase. What concerns should I have if there is a second recorded on the same day as the first. The second used as a down payment.
Most of the properties I?m looking at are in this condition. In fact the first and second is usually the same lender.


#2

Purchase money 1st with a 2nd is common. Check the recorder’s time stamp, will probably be the same date and time if recorded by the title company, the tie breaker is the document number. The one with the lower document number is probably the 1st.