[Volume 1, Issue 5]TheBeginner’sGuide to TitleSearches ContentsIt is often recommended that you run a Introduction ..……………………..1title search on foreclosed homes for saleduring the process of inspecting and Title Searches…………......……..2gathering information about theproperty. Maybe no one has taken the Contact Info…………………………3time to explain to you exactly what“running a title search” means. Thisprocess, while not absolutely necessary,could save you from having to pay somenasty surprise expenses.
2You might be thinking, “Why should I run a title search if it’snot something I have to do. I don’t want to have to pay moneyout my own pocket on something that isn’t necessary!” Thetruth is, the cost of running a title search on real estateforeclosures could pale in comparison to what you might payif you don’t. This guide will explain to you why running a titlesearch is important: Debts and liens: The previous homeowners of some foreclosures for sale may have borrowed money against their homes that they never paid back prior their houses going into foreclosure. Buying foreclosed homes that do not have clean titles may mean you’ll become responsible for paying these. This is the first and foremost reason why it is important to run a title search. Tax lien foreclosures: Tax lien foreclosures are government foreclosed homes that went into foreclosure when the homeowner failed to pay their real estate property taxes. While government foreclosure listings are plentiful, it is possible you could inherit the previous owner’s tax debts. Make sure you inquire into this when looking into tax lien foreclosure homes. Property assessments: If you are looking into buying foreclosures as an investment, you probably plan to repairWhat’s does that mean? and resell or rent out home foreclosures for a profit. It’s possible that a federal survey placed restrictions on theFor more terms and definitions, house, such as for water usage or development, that couldcheck out ForeclosureDeals.com’s be a potential foil to any plans you may have.glossary page:http://www.foreclosuredeals.com/Glossary.php
3Foreclosure Deals Ideally you want a home with a clean title, but if a title12550 Biscayne Blvd, Suite 306 search comes back with some debts or liens, that doesn’tMiami, FL 33181FAX: 1-347-402-6620 necessarily make it a lost cause. The cost of paying theseContact@foreclosuredeals.com debts in addition to the house and any other expenses can still be quite less than a similar home at market value. TakeIf it’s not a deal, we won’t list it here! this into consideration when you are calculating yourFind us on the Web: maximum offer on foreclosed homes.http://www.ForeclosureDeals.com/ Want to know more about title searches? This blog entry may give you a clearer understanding: http://www.foreclosuredeals.com/what-is-a-title- search.php