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Northeastern Pennsylvania Scranton, Wilkes-Barre, Pocono area
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Old 08-06-2009, 12:37 PM
 
880 posts, read 2,025,096 times
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karen
there is a title search for the lender and a title search guarantee for the owner
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Old 08-06-2009, 05:45 PM
 
102 posts, read 297,151 times
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How do you give rep points? I will give Karen some.
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Old 08-06-2009, 05:56 PM
 
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i tried to do it for you but it told me i cant give her anymore....karen is always good for an insideview into the business.
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Old 08-06-2009, 05:57 PM
 
Location: Pike County, PA
1,162 posts, read 3,008,541 times
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Thanks guys - glad to be helpful.

FYI - I recently had a former client contact me about purchasing a lot at tax sale. I encouraged him to contact a title company to find out and make sure there is no cloud on the title or any other issues that would cost him money down the road. Sure enough, there were some title issue...not serious enough to shelf the purchase, but at least he's not going to be blindsided down the road.
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Old 08-06-2009, 06:00 PM
 
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i noticed a lot being tax liened off in our development...you got to be careful as it looks like there are 2 types of tax lein sales..

the first one had a asking price that was very low but all mortgages and liens went with the property to the next owner....if it didnt sell 6 months later they will do it again, this time more money and no liens....this likes like normal procedure in pike county
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Old 08-06-2009, 06:02 PM
 
Location: Pike County, PA
1,162 posts, read 3,008,541 times
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Yes, he checked to make sure there were no liens at all against the property, and no back association dues...many people pick up these lots cheap and have a rude awakening when they go to sell it.
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Old 08-07-2009, 03:26 AM
 
106,673 posts, read 108,833,673 times
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a word of caution on any tax lien sales... if there are people in the house and your buying the lein be very careful....it may not be the sweet deal you bargained for... check state and local laws as to your responsibility.

took part in a tax lein sale in new jersey once..

ended up getting the house, only problem was the old owner was still in it....


now its pay the 2 years taxes and get a lawyer to start eviction process to get them out..

they dragged that on for almost 2 years using every stall tactic in the book .... now we payed 4 years taxes .... well now they left a house full of old stuff.... state law says we have to store their stuff for x amount of months .... they have to pay fees to get it back or its ours...

hired moving company and storage space...almost a year now of storage fees, thousands


now its unclaimed and its mine,,,, now i got to dispose of it somehow.... thousands of dollars again to have it picked up and disposed of,...


the house was a disaster inside...it was borderline criminal what they did.... the house was gutted , re-done and sold.... by the time all was done it was barely worth the trouble
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Old 08-07-2009, 07:36 AM
 
Location: Pike County, PA
1,162 posts, read 3,008,541 times
Reputation: 630
^ great post, Mathjak.
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