Real Estate Investing | Buying at the Courthouse Auction [E-115]

Real Estate Investing | Buying at the Courthouse Auction [E-115]

– Are you buying at
the courthouse auction? On this episode of Title Tuesdays. (upbeat music) Hey everybody! Welcome
back to another episode of Title Tuesdays. My name’s Kevin Tacher, the founder and CEO here
at Independence title, also known as your title king. As always, I’d like to get
you to subscribe below, because we may not be emailing
out every single episode. We want you to subscribe
to our YouTube channel, so make sure you click
that red subscribe button, and then the little alert
button just to the right of that will get you alerts of every new episode as we launch them on Tuesdays. Also, as always, you can join our VIP club by texting in the word title to 3-1-9-9-6. Again, that’s title to
3-1-9-9-6, and you will get instant access to our videos early, before they are even released on YouTube and made accessible to the public. So on this episode, as
I said in the intro, we’re talking about are you
buying at the courthouse auction We do a lot of seminars,
we do a lot of networking, and one of the largest
questions that we get asked is can you do a title search when I’m buying at the courthouse auction? So first I wanted to explain to you a little bit about what happens. When you’re buying at
the courthouse auction, typically the investors
are going to be researching a large number of properties. It could be 50 to 100 properties that they’re thinking about bidding. And then that means that they are going to need a search on 50 to 100 properties. And as you know from some of the previous videos that we’ve done, here at Independence
Title, we issue insurance. We are here to sell title insurance, we do not sell a title search product. Although we do order
a title search product in connection with a closing, our product is an insurable product. We’re going to be searching
back for many many many years, to check the root of title to make sure title is free and clear. A title search that a lot of people are going to be ordering
when they’re buying at a courthouse auction
is going to be more of a pencil search, type search
for the courthouse auction. They’re going to be
doing a bulk rate pricing so maybe 30 to 50 dollars a search, as opposed to our search,
which is a lot more expensive, and goes a lot more in depth into the tile history of the property. So if you’re buying at
the courthouse auction, a lot of times you’re
going to be bidding on maybe looking at 50 to 100 properties, and you’re going to decide to make a bid on maybe three to five. And you need to do your own research. Not only is our search
much more expensive, so it’s not really cost
effective if you’re looking at a large number of properties, it also takes a lot longer. And we know at the courthouse auction, time is of the essence to
make sure you get that search ordered, you find out
which property you want, and you bid and put your money up. Unfortunately, when you’re
buying at the courthouse, there are no insurance policies. A lot of times, you’ll
see where we do these different types of
programs and we speak at some of these auction
events, and these are where investors are buying at the courthouse, and doing an immediate refinance. So we’re able to insure
title to that property, and then they fix it and
sell it a few months later and then we do that closing as well. So we’re able to help
facilitate those closings, but that’s once we know
the investor is buying that property at the courthouse auction. So once they buy it, we’re
then able to pull that search and insure title to it to be able to do that simultaneous closing once the certificate of title is issued. So for our product, we
order it in connection with a closing in connection
with title insurance. And we wanna make sure
that you, if you’re buying at the courthouse auction,
or you’re looking to invest in buying at the courthouse
auction, you know that there are sources for you to order
a title search report or a property report or a pencil search, on your property at a much lower cost then what our search would cost. So if we were able to
get one for 100 dollars, you’d probably be able to
find it for 30 to 50 dollars. So I hope I explained something new talking about buying at
the courthouse auction and a tile search with a title company versus a title search with
a title search company, a title examination company,
that can provide you with all of the resources that you need to make sure that you’re
successfully buying at the courthouse auction. So thanks for watching this
episode of Title Tuesdays. I hope you learned something
new on this episode, about the difference between
the title search with us and a title search when you’re buying at the courthouse auction. So thanks for watching. Don’t forget to like our video below, maybe give a comment,
share on social media. Let us know that we’ve
provided some added value because that’s what it’s all about here at Independence Title. We wanna make sure that
we’re providing you as much added value as possible. So thanks for watching this
episode of Title Tuesday My name’s Kevin Tacher,
the founder and CEO signing off, and I look
forward to seeing you at the closing table. (upbeat music)

2 thoughts on “Real Estate Investing | Buying at the Courthouse Auction [E-115]

  1. nice video bro

  2. I am so grateful I discovered your channel a couple days ago I was at the courthouse at perfect timing there was only five people at the auction a piece of property was selling for almost 5 million dollars of course the bank had already did the highest amount and no one wanted to compete with them but I'm grateful I had the knowledge to at least start researching and #grateful I discovered your Channel I will most definitely be commenting hopefully the first comment everytime you post a video so you will know I am interested interested

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