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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Here's one example Posted by Ward-CA- on April 15, 2002 at 7:18 AM In Reply to: Re: You make the choice... posted by Tim on April 15, 2002 at 0:17 AM : : : I've never done one before-is the best way to hire a company to do it for you? : : ==================== : : The absolute best title search is one done in your county recorder's office by you with the all the skills of a knowledgeable title searcher. Second best is a title company report. : : Title company title reports cost too much over the long run. Your own title research would be cost-free. You make the choice. : Ward, are you saying that even if the terms of the auction state that clear title will automatically be given to the winning bidder.. that it is wise to do a title search anyway? : what would be the point or purpose of such a search? =============== Tim, you can get clear title and still need to know if the foreclosing lien wiped off an IRS lien. That's because IRS has a post-sale 120 day right of redemption to come back and redeem against your clear title. If you knew that IRS was a junior lienor you'd be warned not to improve the property when you bought it, for the 120 day time period, since IRS won't reimburse you for the expense if they do decide to redeem. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : : I've never done one before-is the best way to hire a company to do it for you? : : : ==================== : : : The absolute best title search is one done in your county recorder's office by you with the all the skills of a knowledgeable title searcher. Second best is a title company report. : : : Title company title reports cost too much over the long run. Your own title research would be cost-free. You make the choice. : : Ward, are you saying that even if the terms of the auction state that clear title will automatically be given to the winning bidder.. that it is wise to do a title search anyway? : : what would be the point or purpose of such a search? : =============== : Tim, you can get clear title and still need to know if the foreclosing lien wiped off an IRS lien. That's because IRS has a post-sale 120 day right of redemption to come back and redeem against your clear title. : If you knew that IRS was a junior lienor you'd be warned not to improve the property when you bought it, for the 120 day time period, since IRS won't reimburse you for the expense if they do decide to redeem. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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