Robert LaBrie
New Member
I am looking at a lot of sheriff sales around my surrounding counties. State College area. I think I have got search process down but can't get over the nervousness of getting screwed on a deal because I have missed something. I am thinking you are an expert in the title search process. I am only looking at current owners, leveraging the worked performed by the abstract company in the previous transaction.
Overview:
What are your thoughts in general? What about aliases. Are there lists of for aliases to consider? What am I missing?
Thanks,
Bob
Overview:
- From the sheriff sale list get the prothonotary case number.
- Pull the case from the prothonotary, and the mortgage's instrument number/Book and Page. As well the names of the defendants.
- Perform a search on the defendant(s)name in the prothonotary.
- If there are any judgments against the defendant(s) pull those files.
- How do I know these are attaché to property I am bidding on?
- How do I know these are attaché to property I am bidding on?
- Go over to the recorder of deeds and lookup the mortgage using the (instrument number/Book and Page). From the mortgage get the following, parcel number for the property/PI# and (instrument number/Book and Page) for the deed.
- Look at the deed used in the property transfer.
- Is there any language used in the deed to indicate property is free and clear? I know a warranty deed is only suppose to be used in this event but is that good enough. A lot of the properties I look at are conveyed via quitclaim from loved to loved one. Such as a mom to son.
- Is there any language used in the deed to indicate property is free and clear? I know a warranty deed is only suppose to be used in this event but is that good enough. A lot of the properties I look at are conveyed via quitclaim from loved to loved one. Such as a mom to son.
- Ensure said mortgage is first position by either being the first mortgage on the property after the deed, or by having all other mortgages being satisfied.
- Basically ignore mortgage assignments so long as they chain together.
- Call tax collector, water and sewer for all outstanding bills.
What are your thoughts in general? What about aliases. Are there lists of for aliases to consider? What am I missing?
Thanks,
Bob