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Author: Dwdonhoff Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 13936  
Subject: Re: Title search before buying auction property? Date: 1/17/2013 9:16 AM
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Hi Footie,

Do I just call a title company out of the yellow pages and ask them if they do a title search on a property before I bid on it. I thought I would ask you guys before I called and looked like an idiot.....

A.) Its EXPONENTIALLY BETTER to look like an idiot and hang on to your money than to look like a genius & get fleeced! Stop that worrying right now! ;~)

B.) Yes, its as simple as calling any title company... however,

C.) They'll generally do the search work free, or payable at a discount contingent on closing (as opposed to at the point of order or absolute delivery) *IF* they are the firm that gets paid for the title insurance policy itself.

To the issue of #C, in most areas it is the selling side that pays to insure clear title (ye, yes... if they pay the costs are baked into the sale price and it is actually you paying.... but to re-phrase "the seller 'controls' the selection of the title insurance provider.)

So... double check with the auction/seller as to who they normally use for title... and use them.

Luck,
Dave Donhoff
Leverage Planner
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