Foreclosure Investing: Senior Liens- how do I ensure that the lien I purchase is the 1st/Senior Lien??
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The way we operate our tax sale investments for our investors is that we pick certain ones on the list and order a quick chain of title report on them from today back 20 years. We've been doing it for longer than we care to remember and because of the business we give them the Title companies are pretty inexpensive on those orders for us.
You can go to the direct books at the assessors office and search the name back yourself the employees there will show you how to do it.
Best of luck to you and make sure that the description is sufficient for you to find the property, go see it and make sure no one is living there, finally make sure that the notices were sent to the owners of record and the ones that might have a claim to the property interest, you can do that by asking the taxation folks.
Well, you or your closing agent would obtain a title search to insure you have clear and warranted title. You will need to ask your closing agent about an "owners" policy that insures all "clouds" are cleared up.
If you get a title search you are asking for trouble, so be careful.
Hope this helps!
Search the title records in the county where the property is located. This is the cheapest, but most time-consuming. Otherwise, a title company is your best bet. Depending on where you are located, this could be costly though.
Hope this helps...
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