Tips for Finding Free and Clear or Marketable Titles
Generally speaking, a marketable title is one in which there are no liens and the line of ownership is very straightforward. You want to make sure that you can trace the chain of title from one owner to another without finding an unpaid lien or unrecorded death certificate.
If you discover any issues, first ask yourself if it can be resolved. If so, consider how much effort will be involved. If it is fairly easy to fix, then go for it. If it is not easy, then weigh the cost of the effort versus the benefit of moving forward. It can be worthwhile if the potential profit is still considerable.
On average, I let anywhere from 50 to 100 properties go every year due to questionable title issues. I prefer easy closings and you probably will too. However, you may find scenarios in which it makes sense to move forward when title issues are present. The great thing is that you decide what is and is not worth your time and effort. When you are first starting out, a quick call to a title company or real estate attorney will usually tell how big an issue that it will be to clear a title.
In order to avoid spending money unnecessarily, learn to do title searches on your own rather than using a title company. It’s a fairly straightforward process, and with a little practice, will not take a lot of time. You will end up saving money in the long run. Many counties will have everything that you need available online.
The key to any successful real estate investment is to thoroughly educate yourself. Learn more secrets and find out about my course, the Land Profit Generator at http://www.landprofitsreview.com . Also, you will have the opportunity to sign up for our free list that brings real estate investing tips and discounts right to your inbox. No spam, just content!
