lien position

Submitted by Vincent D from CA - 08/31/2010 - 9:29am

How do I find out what lien position I'm bidding on at the auction?

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Comments

Submitted by Michelle - 08/31/2010 - 11:41am

You will want to research the chain of title on the property until you are confident of the lien position since there are no guarantees or title insurance when buying at trustee sale. You can start by looking at the transaction history in ForeclosureRadar. You can then check for reconveyances or subordinations and run a name search in the county grantor/grantee index. Some investors have a contact at a title company that will give them a verbal (no guarantee) and others use online title services or hire people to check and verify the lien position (none of which are typically guaranteed). Buying at trustee sale is a high risk/high reward proposition with no guarantees or inspections. You may want to find someone that has experience in researching title to help you understand how to minimize your risk through research.

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