How do you do a Title Search?

General Real Estate Investing
1

Hi there. Question: What are the steps involved with doing a title search? Making sure their are no liens against the property…that kind of thing. Thinking about doing a Contract For Deed and have been advised to take this step early on.
Thanks
JayDee

2

Howdy JayDee:

Best to get an attorney or title company to do the title search. If they mess up they can be held accountable. You can also hire a title company clerk that you will be able to find at the courthouse doing research every day. Times are changing and a lot of the searches are now being done via the internet.

There are a lot of things to check, bankruptcy records, deed records, IRS liens and other liens and judgements and more. It can be done at the courthouse with the help of the clerks but it is risky on your part. Also contracts for deed are not recommended by a lot of gurus and even outlawed in several states including Texas.

3

Hey Ted,
Thanks for the reply. Question: Is a Contract for Deed the same as a Land Contract? Why are alot of gurus warning against them now a days? And why would they be outlawed?
Thanks again for all your help.
JayDee :slight_smile:

4

Howdy JayDee:

Read this post and it will answer the question why contracts for deed have been outlawed in a lot of states. These people where not even intended prey but it just ended up that way. There are vultures out there looking for an easy mark and will take advantage of a deal like this is a split second.

I do believe a land contract and a contract for deed are about the same. I am not an attorney and do not know the complete history of both but believe they are close to the same if not exactly.

5

Hey Ted,
Thanks for your help. I actually have a meeting with an attorney in about 20 minutes to talk about the specifics of a land contract. I will let you know what I learn. :slight_smile:
JayDee

6

Ok. Mr. Attorney said that he would not recommend doing a Land Contract either. Guess we will Ixne that idear. He too said that there is just not enough legal protection to protect our investment.
So thanks for all your replies. If anyone has any other comments on the subject, please do share!
JayDee