In the Due Diligence manual Day 18, it says to check on the title commitment to get a read on who the correct owners are and also shows note value to possibly get a read on how much the seller paid.My question is this will not work if there is no lien correct? and do I have a right to ask the title company for a copy of where they are at?I have already paid my earnest money and am in day 7 of DD period.
Title companies will often do this research for you for free. However it is not difficult for you to call the County and ask for what the assessed value of the land is, how your purchase may affect that value, who the current owner is, and whether there is a mortgage on the property.Good luck with your deal!-jl-
A simple county records search will show all of this information, plus more in most cases. As Jefferson said, you can call the county and get all of this information. Or, you can get on the Tax Assessor site for the county (if you have the physical address or parcel ID) or get on the county GIS (if you can find it on a map). The tax assessor site will generally take you to a property record card showing you the current owner, owner’s tax address, transfer history, parcel size, appraised value, assessed value, current tax amount, utilities, and zoning.I would recommend looking at the GIS system to see how the parcel(s) are laid out. It’s not a replacement for a survey, but this can show you where you may have problem areas. It also isn’t a bad idea to look at a FEMA map as well. FEMA has a google earth add-on that encompasses the entire US. I posted a link to it on this forum once before.Because of the internet you can know who owns the property, what they paid for it, when they bought it, if the utilities are private/public, if it’s in a flood plain, if the current owners owe property taxes, if the property has debt on it, and get a general outline of the parcel’s boundaries in about 5 minutes without ever talking to an actual person or spending any money. Needless to say, you should probably do these things before you even start negotiating on a property.