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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Foreclosure Radar Posted by Sean OToole on June 17, 2010 at 9:01 AM In Reply to: Re: Foreclosure Radar posted by InvestorEstates on June 16, 2010 at 10:01 AM : : What do you mean? What are the big investors relying on from Foreclosure Radar that they can't get from County Recorder Research? : Foreclosure Radar pulls often inaccurate data on lien positions from other data resources.... Investor Estates - If you've ever been to the auctions you'll know that many of the pros use ForeclosureRadar, including many of the "big sharks" - we have customers that buy well over 50 properties a month. They wouldn't use us if they didn't feel we were the best service available. Clearly cost is not an issue for them. You seem to be confusing a comparison of services with what an investor needs to do before buying at auction. 1. We show all loans, just like other services. In fact we even show past loans which most other services do NOT, and we do so in a very nice title chain format which can really help tell the whole story. We do not perform a name search to look for liens and judgements, but I'm not aware of any other service that does either. Anyone who is going to buy at auction needs to know how to check title, those relying on ANY service to do it for them are playing russian roulette. 2. No service guarantees the loan positions they determine. We are quite clear that we use a computer model to estimate loan position. Other services do it by hand. In EITHER case you should verify the position before buying (as CRR clearly states on their home page). 3. No service currently offers daily updates from the tax assessor, so that's not a fair comparison. Plus it is ridiculously easy in most counties to check taxes using their online website even at the very last second, so I don't see the issue here. 4. PACER is a great tool, but seems ridiculous to me to check every property in PACER before buying. In the remote chance the borrower declares BK at the last minute, the worst case is getting your check back a couple of days later. Also note that this isn't something other services provide either. 5. Notices of trustee sale now have to be recorded 21 days before the sale (we lobbied to have the law changed), so even if we were 7 days behind at a given moment you'd still have 14 days before auction. I frankly think 14 days is too early as you'll need to recheck property, title and taxes closer to the sale date - why waste time and do it twice? Most pro's I know don't. Having purchased 150 properties at auction myself and having used every service in the state, I would not have built ForeclosureRadar if I didn't think we could deliver something better then the rest. Best of all we offer a FREE trial of our services so it is super easy for folks to compare for themselves and choose whichever service is best for them. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : : What do you mean? What are the big investors relying on from Foreclosure Radar that they can't get from County Recorder Research? : : Foreclosure Radar pulls often inaccurate data on lien positions from other data resources.... : Investor Estates - If you've ever been to the auctions you'll know that many of the pros use ForeclosureRadar, including many of the "big sharks" - we have customers that buy well over 50 properties a month. They wouldn't use us if they didn't feel we were the best service available. Clearly cost is not an issue for them. : You seem to be confusing a comparison of services with what an investor needs to do before buying at auction. : 1. We show all loans, just like other services. In fact we even show past loans which most other services do NOT, and we do so in a very nice title chain format which can really help tell the whole story. We do not perform a name search to look for liens and judgements, but I'm not aware of any other service that does either. Anyone who is going to buy at auction needs to know how to check title, those relying on ANY service to do it for them are playing russian roulette. : 2. No service guarantees the loan positions they determine. We are quite clear that we use a computer model to estimate loan position. Other services do it by hand. In EITHER case you should verify the position before buying (as CRR clearly states on their home page). : 3. No service currently offers daily updates from the tax assessor, so that's not a fair comparison. Plus it is ridiculously easy in most counties to check taxes using their online website even at the very last second, so I don't see the issue here. : 4. PACER is a great tool, but seems ridiculous to me to check every property in PACER before buying. In the remote chance the borrower declares BK at the last minute, the worst case is getting your check back a couple of days later. Also note that this isn't something other services provide either. : 5. Notices of trustee sale now have to be recorded 21 days before the sale (we lobbied to have the law changed), so even if we were 7 days behind at a given moment you'd still have 14 days before auction. I frankly think 14 days is too early as you'll need to recheck property, title and taxes closer to the sale date - why waste time and do it twice? Most pro's I know don't. : Having purchased 150 properties at auction myself and having used every service in the state, I would not have built ForeclosureRadar if I didn't think we could deliver something better then the rest. Best of all we offer a FREE trial of our services so it is super easy for folks to compare for themselves and choose whichever service is best for them. [ 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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