Title Certificate?

Posted by Irina on January 29, 2008 at 08:51:57:

Posted by Irina on January 29, 2008 at 08:47:27:

In Reply to: Re: Strategy for buying property in foreclosure January 20, 2008


Here is updating. 1)We got a Real Estate Attorney
2)We won't contact the owner (the house was abandoned, the electricity was cut off for not paying bills
3)We have the inforamtion that the owner of the property borrowed $100,000 at 2002 against the property, paid $40,000 back to the bank and has a balance of 60,000 which is going to be sold at sheriff sale.
There are 1 senior lien for $3000 and five juniour liens for about $20,000. Also property Tax is about $3000. We got the information at a courthouse/county recorders office. We have not ordered the title report yet, the delay was because the attorney said he could do it for us and we would have a Title Certificate, which costs $500. My question is do we really need the title certificate or we just can order full title search report from the title company. I think since we will have to try to bid it at action we do not need the Ceritficate. But my husband is really concerned. What do you think?



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