Messages

1

General / Re: Properties with leans on them

« on: April 25, 2006, 11:29:17 PM »

Well I haven't had a legal title search done, I'm just going on info I get from Geowarehouse showing liens on property. I really don't know what kind of liens they are.  I am looking at a couple of properties, just out of curiousity, to perhaps take a step into the game.  These 2 properties are not showing up with any liens.  It seems like a title search would be the least of your expenses though if you are stuck with a refinanced mortgage of which you had no knowledge.  I guess I just don't know the process and it seems quite difficult to find information about it. (Unless you buy into one of these courses). I need to know what my risks are before going into this kind of an investment.

Thanks for your response
realbuyer

2

General / Re: Properties with leans on them

« on: April 25, 2006, 09:21:55 PM »

Hello,
In one of the bottom paragraphs on every auction notification it says the purchaser is responsible for all liens, taxes owing, outstanding mortgages, title, etc.  Lets assume we have the title checked and verified.  How do we find out if the house has a huge mortgage still on it that we will then be responsible for? Ex. Refinancing, etc. I have never been to a tax sale and I was wondering if this info is made available before you put in your bid or you just take your chances. I see a posting about mortgages and liens are taken off by the time it goes for public auction - then why do they have that clause in the posting? Can anyone explain?

Thank you