A title search on the property can tell you about the house such as if
the owner still owes money on it from a second mortgage on the home or any outstanding lein on the house involving the current homeowner? (Failure to pay property or income taxes, the government could have a lien or claim against property.....which means the title will not be free and clear until all liens are paid -- and if you buy it,
you will be the one who owes it.)
PLACES TO FIND FORECLOSURE AUCTIONS
- Check legal notices in the classified section in the local newspaper.
- The office of the recorder of deeds (in your county)
- Some real estate agents specialize in foreclosures. A realtor knows what other homes in the area have recently sold for, which can help you have a better sense of the market in that area.
Avoid Internet sites and subscription services that provide foreclosure information for a fee, since many have old information and are just out to take your money.
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Fannie Mae, FDIC, HUD, VA, Freddie Mac, SBA, Sallie Mae Property
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