Hi,

There's a Foreclosure property in Texas that I'm looking into. Is there a way to find out what is owed on the property before I move foward?

I know RealtyTrac.com lists its foreclosures with the FMV and "Owed Amount". I was thinking this might be public record.

BTW - Does anyone use RealtyTrac.com? And if so, is it a reliable resource?

Thanks.

- Dyce

If it is before a sheriff's sale, your best bet is to call the mortgage company directly.

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Aaron

Minneapolis Real Estate | Twin Cities Real Estate | Edina Realty Agent

In my county the "clerk of courts" has a website that you can see what liens (mortgages) a particular person has.

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Brevard MLS
Satellite Beach Real Estate Brevard MLS
Advanced Brevard MLS

Can I look it up by the property address...That's okay, I'm just being lazy now. I'll check it out.

Thanks!

The mortgage company will not speak to anyone on a loan besides the borrower or someone with a power of attorney.

The outstanding debt, including fees and interest is listed in the public notice, but ONLY as of a certain date and ONLY for that particular lien. Where a lot of novice foreclosure investors make a mistake is not realizing there are sometimes other liens on the property BESIDES the one that is part of the foreclosure process.

You can research other liens using the public record, but since I used to be the guy foreclosing on people -- I've seen lots of novice investors really screw up buying overencumbered property that they mistakenly thought was a "steal".

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Terry Light - Professional Contrarian
Office Phone - (949) 305-7995
RealEstateBytes.com
Real Estate Encyclopedia
Author for RealEstate ABC (Creator, too)

Ok,

Here is a novel concept... Contact a local Realtor, Sign an Exclusive Buyers Representation agreement (that way they are working for YOU not the Seller).

Then have them represent you.

Next, ask them to order a title report. The title report will show you any liens on that property.

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If you are looking for San Diego Real Estate or you want to view San Diego MLS listings (or at least that portion of the data feed that SANDICOR allows us to display on our websites) go to a local San Diego County real estate Agent's Site.

P.S. We Love Referrals!

I use RealtyTrac here and there. I've found, for the most part, their services are reliable. Your best bet to get the information on that forclosure is to do some digging. As the others have said, go to the county clerks office or get in touch with a realtor or real estate agent. Signing an exclusive buyer agreement may not be the way to go depending on wether or not the agent makes you sign with him/her...I would do it (and I'm a Realtor). Just ask about the home, but be careful, as the agent may take intrest in the property himself.

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Convey Real Estate | Virginia Beach Real Estate | Virginia Beach Homes

Seems like a lot of trouble to find out what is owed on a property when they could search the public records themselves. Most buyer representatives would pre-quality their client with respect to the clients financial ability to purchase a property, before doing anything. Further, the agent might just require the client to advance any necessary funds to cover disbursements and which may be credited to the client if the client completed a purchase.