Two part question here. I am an experienced investor, but new to foreclosure “courthouse” auctions. I have done thorough research and am ready to dive in. I will placing my bidding deposit tomorrow.
My question is… What happens if a sale is contested within the 10 day period after the sale before a Cert. of title is issued? You pay in full within the 24 hours and then if the sale is contested successfully on say day 5. Do you get your money back immediately from the county or does this take a while? Do they take a fee/penalty. I noticed something on the realforeclose website that made it sound like you are responsible for the county auction fee even if the sale is cancelled.
I am also curious if anyone with experience thinks you can do your own title search online (Broward County) and get the same info that you will get paying for a ~$99 title search report. Do they have any additional tools other than experience. I have looked at every piece of public record under the owners name and don’t see how I could have missed a lien, second mortgage or anything of that nature. So questions is the $100 title search worth it. IT would be too costly to run title searches on numerous properties to only be a successful bidder on a limited few.
Thanks