How to begin a title search when purchasing a foreclosed home

How to Begin a Title Search When Purchasing a Foreclosed Home A title search is not generally a requirement in the process of buying a foreclosed home, but foregoing such a search could prove costly. Verifying the soundness of the title on a foreclosed property could prevent you from having to pay for expensive surprises. If you plan to make repairs or otherwise improve the quality of a foreclosed home, you should definitely run a title search on it first. There are some ways you can do this on your own, or you can hire a professional to do it for you.

1. Search the Internet for names of popular title search programs.

There are many sources available, and a quick search online for something like “foreclosure title search� should bring them up for you.

Look in chat rooms or on Q&A message boards for references to online companies.

People who have had good experiences tend to like to share. You will be likely to find users’ comments and reviews. Stick to the companies that you see noted positively by several people.

2. Gather more information.

Sometimes, particularly with a foreclosed property, you may only have the address.

If that is all you have, you can usually search for that. If you have more information, like the current owners, that sort of information can often narrow your search and provide more accuracy. Try to get this information from the bank, lender or realtor who is advertising the foreclosed property for sale.

PAGE 1

3. Acknowledge the limitations of this free search.

Most sites contain disclaimers that their information may not be reliable. They are performing a quick and cheap service; just realize that you get what you pay for (that is, you’re getting quick and cheap results). Use an online search as a starting point for your title review, if you wish, but you should then go do a more thorough search at the county records office, or hire an attorney or title agent to review the information with you.

4. Watch out for misleading claims.

Many sites will advertise “FREE” title searches; however, what they don’t say is that something like the “preview” search is what you get for free. To see the “premium” search, you then have to pay for it. The “preview” search will contain a note like, “We found that there was an ownership change in 1985,” or “We found a mortgage dated 1991.” It won’t give you any more detail. Paying may be the correct option here, just be sure to weigh the total cost and credibility of the site against the likely gain.

Sources: www.wikihow.com artesiantitle.com PAGE 2