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  • #380
    Kevin Rhatigan
    Participant
    Post count: 107

    @jilldewitt
    @stevenbutala

    Hi Jill,

    Do you ever get a title report or title rundown on a parcel that you want to buy?

    I understand the part about verifying ownership with the county and verifying any taxes owed.

    But is there any possibility of there being additional liens on the property such as by a credit card company, IRS, etc.? Or is that not possible since it is vacant land?

Viewing 5 replies - 16 through 20 (of 20 total)
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  • Luke Harris
    Participant
    Post count: 146

    Thanks so much! Very helpful!

    Jill DeWit
    Participant
    Post count: 462

    Great stuff here! Luke Harris are you using the vesting deed access you have with both D2D resources? TitlePro is actually acquiring, scanning, and uploading deeds for CA counties and more coming soon. So even though the county is not online, the deed might be there for you.

    What about the seller? Most sellers have them like we all keep track of our vehicle pink slips.

    And you can verify ownership for free via both products once you pop in the APN/County/State. (It pops to make sure you have the right property before you take the next step and download any paid items. PLUS 3 of those free in TitlePro24/7 from us each month.)

    Glad you are doing your homework!

    Luke Harris
    Participant
    Post count: 146

    @jilldewit

    I haven’t had any trouble finding vesting deeds, I’m more worried about other problems in the chain of title, or issues that come up during a title search. It sounds like the only “title search” you guys do is confirm that the person you are talking to is the one listed on the vesting deed, correct? Or do you ever dig deeper on small deals that cost more than $5000?

    I Went ahead and took a leap this week and I’m doing a notary closing the way that you guys spell it out, funny thing is, I already have a buyer begging me to sell him the property before I even own it!

    Luke Harris
    Participant
    Post count: 146

    @luketsmith

    @chazalbrecht


    @admin


    @jilldewit

    I’m still trying to wrap my brain around the fact that y’all don’t do a title search. Another thing I thought of is leins on the property, how do you determine if there are any liens other than back taxes? If the owner used the property as collateral for a loan, or if there is an IRS lein on the property. Is that not usually an issue?

    Do you ever order an abstract for these smaller properties?

    Luke Smith
    Moderator
    Post count: 1345

    Yea when the buyer pays for it. Do some of them and see what comes up. Todays buys the owners have had the properties since the 60’s or longer. No complainers since then are they going to really come out now?

    It is a business decision. You can title them all if that makes you feel better. I feel better doing them in entities that ring fence my risk to the assets of that entity.

    Basically insuring myself and cutting out the title insurance guys with their 95% + profit margins.

Viewing 5 replies - 16 through 20 (of 20 total)
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