| How do find foreclosure deals? | | | | estate owned by aperson in the country where it |
| There are numerous ways to find foreclosures | | | | was files. A property owner with no liens |
| properties. Listed below are someof the most | | | | can,therefore, give good title to his or her property. |
| common: | | | | There are many sources to find foreclosures. |
| Courthouse Research | | | | Hopefully, you can find theforeclosure before it has |
| Information you are looking for can usually be found | | | | gone too far into the foreclosure process. Find below |
| in the Clerk of the Court'soffice or Land Records | | | | afew locations to begin the search: |
| department Start by calling the County Courthouse | | | | - Classified Sections |
| tofind where real estate property records are | | | | - Legal newspapers |
| located. Each Courthouse hasdifferent methods of | | | | - Attorneys |
| filing documents, some in large books, some on | | | | - For Sale by Owners |
| microfichefiles, and others on computers. | | | | - Realtors |
| It is important to ask a County employee for | | | | - Auction Companies |
| assistance. They can show youwhere real estate | | | | - Banks- ROE departments |
| property records are located. They can show you | | | | - U.S. Marshall's Service |
| where tostart your search and where you can get | | | | - Listing Services |
| more detailed information when youlocate a potential | | | | - IRS auctions |
| suitable property. You may want to start with the lis | | | | - Bankruptcies |
| pendensfiles or the docket sheet, where the most | | | | - Probate Court |
| recent court actions are first recorded. | | | | - Your own advertising |
| Write down the foreclosure case number and then | | | | - County courthouse, town ball, or registry of deeds |
| review the file to gather dataabout the foreclosure. | | | | Check for "new cases" |
| All the information concerning the title to a property | | | | Check for "sale" file |
| ispublic record. Remember, only recorded information | | | | The materials herein are provided with the |
| in the public records canenforce the priority is | | | | understanding that the author, company and |
| established by the date and time of recording. | | | | orpublisher are NOT engaged in rendering accounting, |
| To check on deed information, visit the Tax | | | | legal, investment and/or tax advice orservices, as |
| Assessor's office or in another partof the | | | | they may relate to this program. Questions regarding |
| Courthouse. Locate the correct volume and page to | | | | specific accounting, legal,investment and/or tax needs |
| find the deed. Thedeed will show the owner's name, | | | | of any participant in this program should be |
| give a legal description, and will have a mapor plat | | | | addressed to theparticipant's own professional |
| book and page that shows the physical plat of the | | | | adviser. |
| property. | | | | The authors, its agents and assigns, specifically |
| In many instances, you will find a mortgage on the | | | | disclaim any liability, loss or risk, personal orotherwise, |
| pages following the deed. | | | | incurred as a consequence directly or indirectly of the |
| From the mortgage document you can determine | | | | use and/or application ofthe techniques and/or |
| the type of financing, originalloan amount, interest | | | | materials provided in this program. |
| rate, legal description, date of first payment, | | | | These materials are published for educational |
| procedure forforeclosure, assumable or | | | | purposes only. This information is provided toprogram |
| non-assumable indicators, and any prior liens. | | | | participants as additional personal financial strategies. |
| If other liens are found, recheck them in the | | | | These materials are not intended to enable |
| appropriate Deed Book. These aregoing to have to | | | | participant s to engage in commercial activities orto |
| be dealt with if the property is to be purchased | | | | start or augment a business. |
| before theforeclosure sale. | | | | The forms in this program are provided for |
| Check also for judgements by looking in a Judgment | | | | educational purposes. These forms may not |
| Book or on a microfiche file. If found, check to see if | | | | beappropriate for use in all states. Therefore, you |
| the judgement waspaid. By definition, a lien is a claim | | | | should request that your professional adviserreview |
| one has for securing a debt owed bysomeone. A | | | | these, or any other forms you plan to use for any |
| judgment attaches to and serves to lien all real | | | | purpose. |