Title Searching and Other Research

Does anyone know of a comparable system to 'ForeclosureRadar'? that one is only for use in the California market as I understand it.

In many states, the transfer of real estate from one party to another triggers a taxable event for payment of local Real Estate Transfer Taxes. But some transfers are exempt from transfer taxes. This list may not include every possible exempt circumstance, but will cover the most common circumstances. Real Estate Transfer Taxes can range from a few hundred dollars, to up to 4% of the transfer price on some investment properties, depending on the state in which the property is located.
1. Transfers between direct family members through marriage or blood: spouses, parents and children or the spouse of a child, siblings or spouse of a sibling, grandparent and grandchild or spouse of grandchild, sisters or brothers-in-law so long as they are not remarried;

The following is a non-definitive list of deed types. I find that I am frequently asked what a particular deed type is or means. So I'm going to continue to research and post in this string as I become aware of additional deed types. Most of the information here is attributable to Stewart Virtual Underwriter, and although glossaries of terms are not something that can be copyrighted, we are appreciative to this organization for assembling a good starting list. This is also an open opportunity for other contributors to add to the list.

Bargain and Sale Deed

Following up on properties in the process of purchasing them to make sure that you are actually getting what you thought you were is frequently confusing for investors. I believe that those who contribute to this forum will have many suggestions and tips to share here. I'll begin this column with some content from an article I found by Stan Mullen, CCIM, SIOR, from California. I've added a couple of additional points based on personal experience, and will share the link to Stan's complete article at the bottom. While some of these items may sound geared for personal residence purchases, many times they can affect the financials on the property and deserve evaluation by investors.

Title Companies: What Home Buyers Need to Know

A title company makes sure that the title to a piece of real estate is legitimate and then issues title insurance for that property. Title insurance protects the lender and/or owner against lawsuits or claims against the property that result from disputes over the title.

I am going through my last 90 days cash solds and notice that sec of VA is listed as paying 14,000 for a property. Is this considered a cash sold or is it just that the records are not updated. I guess they do buy from the banks that had the loan???

I have a lady that supposedly bought a house with her husband for just 3K and it was a QCDS deed. Then it went from them to a LLC as a CLWDS deed? NOt sure what this is? Then the owners had a cancellation deed done. It is still under their name, but what then is the cancellation deed? Do I need to call downtown or does someone here know? Thanks Tammy

I found almost 70 thousand delinquent records to a tune of almost 10 billion dollars, however it looks like I need name and parcel number to look it up online? Calling is not always good where I live. Is this information usually online, or do you need to know some info to get info? Tammy

A mechanic's lien is a security interest in the title to property for the benefit of those who have supplied labor or materials that improve the property. The lien exists for both real property and personal property. In the realm of real property, it is called by various names, including, generically, construction lien. It is also called a materialman's lien or supplier's lien when referring to those supplying materials, a laborer's lien when referring to those supplying labor, and a design professional's lien when referring to architects or designers who contribute to a work of improvement. In the realm of personal property, it is also called an artisan's lien.

Okay as we are going through investing and developing strategies, sometimes we come across tools that simplify a process we are going through.
When you are looking at properties out of your area, getting eyes on the property is a reassuring thing. There are some you may sight unseen because of the price you can get them for.
For the properties you cannot not there are some methods that you can go through.
Craigslist.org
Under the services section and then under Real Estate you can find property managers and bird dogs that might be wiling to go look at the property. This can be great, but does not give you all the information you want to evaluate the deal.