Re: Title Certificate?


Posted by OC Andy on January 29, 2008 at 19:17:14:


In Reply to: Re: Title Certificate?
Posted by Irina on January 29, 2008 at 12:11:10:

Irina:

Your first step is to locate a plat map for each of the parcels that are scheduled to be sold at auction. Your county auditor will usually have these available for each parcel within the county.

Next locate the parcel which contains the improvements (the house) on it and make sure that that parcel is included in the original foreclosure complaint, if it is, then you are halfway there.

Your title report will also show you improvements made to a specific parcel, however, you need to know which parcel it is otherwise you'll be spending $$$ for title reports that you just don't need.

You may want to check with the county recorders and auditors offices to find out if the parcels which are missing from the foreclosure complaint had been conveyed(sold) sometime between the original purchase date and the foreclosure complaint date. If this is the case, it may help explain the sizeable $40k reduction in the amount owed to the lender.

Since the property is abandoned and the owner is most likely difficult to find, focus instead on the Sheriff's Sale. Just ensure that you are bidding on the first position lien and not a junior. Also check for the presence of any liens which could cloud title post auction. Absent any of these and assuming you are the winning bidder, you should have clean title to the property.

Good Luck


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