How to Do a Title Search for Foreclosure Homes

by on Foreclosures

Model Foreclosed Home

Are you interested in buying a foreclosure? If so, you have one thing on your mind: making money. While there is nothing wrong with this, any mistake along the way could cost you big time.

In the past, many have made the mistake of not completing a title search before purchasing a foreclosure. There is no reason to believe that this search will turn up something, but there is always the chance that this could be the case. If you neglect to do a title search and there is a problem, such as a lien, it could cost you thousands upon thousands of dollars. Is that a risk you are willing to take?

Now that you understand the importance of doing a title search before buying a foreclosure, here are three ways of completing the all important process:

Visit the Courthouse

For many buyers, there is no replacement for doing a title search in person. Is this going to take more time? Most definitely. That being said, you are now in position to do the search on your own, in person, ensuring that you don’t miss out on a single detail.

The process of visiting the courthouse to complete a title search is quite simple. All you have to do is determine the county in which the house is located, visit the courthouse, and ask for assistance. From there, you will be pointed in the right direction.

As time consuming as this may be, it will put your mind at ease, allowing you to make a purchase without any fear.

Use the Internet

There are many reasons to avoid a title search at a courthouse. Not only are you faced with doing all the work, but this can be time consuming. On top of that, if you don’t live in close proximity to the courthouse you are faced with travel time and costs.

With all this in mind, a growing number of people are using the internet to do a foreclosure title search. With our service, for example, you never have to leave home to complete this process. Here is what you need to get started:

  • Title records are indexed and stored by name, not address
  • Use the name index to find the property you are interested in purchasing
  • Go through all the documents, making sure that you determine what is current and what is not

Note: some courthouses have an online database that you can access remotely. Before you visit the courthouse in person, contact the county to ask if there is any way you can complete the search online. This could save you a lot of time and money.

Hire a Professional

When buying real estate in a traditional manner (not a foreclosure), you will likely hire a title company to handle this process for you. While this is not your only option, it is one to consider if you are worried about missing something of importance.

With the right title company on your side, you can let them handle this detail while you worry about everything else. They will report back to you with any information, allowing you to then make a decision on whether or not you should move forward with the purchase.

Note: this is the most expensive of the three options, but something to consider nonetheless.

With this advice, you should now have what it takes to complete a title search for any foreclosure you are interested in purchasing.

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