Home Buying in Lexington>Question Details

Kalley, Home Buyer in Lexington, SC

How do you find out what bank owns a bank owned property? I asked an agent that has a house for sale in neighborhood and he said couldn't help.

Asked by Kalley, Lexington, SC Thu Mar 18, 2010

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Kalley in Hamilton County Ohio right now the sheriff is taking 15-16 weeks to record the deed from auction. IF that is the case in your area it may take 4 months before the deed is recorded to be able to find out who owns the property. If it is going to be a HUD property it will take longer as the lender will transfer the deed to HUD if it was not recorded in their name.
The best thing to do if the property is causing problems is to call zoning or the health department. They can address issues and lien the property. If you are looking to purchase the property you need to find a Realtor® in your area thatknows about forclosure properties.
Web Reference: http://www.Find1Home.com
0 votes Thank Flag Link Thu Mar 18, 2010
Kalley
Here we use title company's to pull a property profile. Property profile is important because it will also disclose liens and just about everything you want to know about the property.

Good Luck!!!
Web Reference: http://www.di4homes.com
0 votes Thank Flag Link Thu Mar 18, 2010
Very simple. Pull up the trust deed via a title agent or mortgage professional. Whoever you'll be using to procure a loan, that's who I'd ask. If you need a one time address, I can look it up for you in two seconds. Just send me an email.


louwu@chinatrustusa.com


PS, I don't lend in SC so no conflicts of interest/solicitations ;)


Cheers,


Lou
0 votes Thank Flag Link Thu Mar 18, 2010
You could try going to the county registry of deeds. All liens (read mortgages) need to be filed. If that is the wrong place the clerk should be able to tell you where to go. You have to do research and that takes time.
0 votes Thank Flag Link Thu Mar 18, 2010
Kelley: The customer service at an Escrow company in your area can pull a property profile and it will show recordings done on the property. Title policies that are done to insure ownership do research to find any parties that may have interest in a property however, these are done right before a property sells.

Banks sell their loans and the servicing of them so sometimes it can appear that a property is owned by one bank but is actually only being serviced by that bank.

Because of all of these variables it is not as straight forward as it sounds to find out which bank actually owns the property. This is probably one reason that the agent said he could not help you.
Web Reference: http://www.soreal.biz
0 votes Thank Flag Link Thu Mar 18, 2010
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