Hi, before you even approach the FSBO do your own background search. It’s easy -
Get the address of the home
Go on the internet and look up the County Auditor and/or Recorders’s office. Most of them have a searchable database for you to look up addresses. At these two sites, you’ll be able to see how much they paid for it, how much their mortgage was obtained for, if there are any liens, second mortgages, etc., and what the taxes are. This will give you a good idea of who you are dealing with and it’s free and total public information.
Check the County Municipal Court records to see if they have any additional liens, such as back child support, credit cards, etc. because you normally won’t find this stuff out until you close the deal or after it’s already been to underwriting and it’s at the title company. These records will show any items that might not make the deed clean.
By doing this ahead of time, if you find some untruths to what the people say, then don’t pursue it or pursue it with caution. I have been doing my own lien searches which gives me more buying power and more room to work with in making a deal.
Good point- I’ve done some of those ideas but, not all of them. I’ve seen the house and know the address. I also already checked the county assessor.
Total property assessment: $238,900 (prime area in Denver)
Purchased: 05/30/03 sale price of $245,000
Taxes: $17,130
No liens
Assessor site doesn’t show what they currently owe. I also haven’t checked for additional liens. The assessor only lists tax and sewer/storm liens. I’ll have to check that.
After I have done my due diligence, what questions should I ask the home owner? Thanks again for the help so far.
LA has parishes, not counties. LA law is based on French law, while most of the US is based on English law. There’s (I believe) abot 90% difference;Talk nicely to a LA realtor and you’ll have a goldmine.