Pestilence - Posted by John Behle
Posted by John Behle on May 25, 1999 at 17:46:00:
The Recorder’s Office has given me some very strange and somewhat perturbed looks as I have hauled as many as a dozen people in to check titles during one of my 5 day trainings. One title company employee asked one of my assistants what he did there every day. He said his boss bought mortgages and the reply was “oh! you’re one of those people. You steal mortgages from little old ladies”. Whenever I saw Chris after that he would jokingly say “Slither, slither, slither”.
I think one of the most important tools an investor can have can be his knowledge of how to use the Recorder’s office (or a title company).
It helps because I know the full story on a property. I know if there are going to be problems getting insurance or if there are shenanigans going on. It helps a great deal in loss prevention - both in money and time. At the moment, I’m hard pressed to think of any scam I’ve seen in the mortgage business that couldn’t have been prevented by some due-diligence in checking the title.
Once I have a deal (real estate or paper) firmed up with an option, the Recorder’s Office is the next step. I can spot and begin solving problems immediately and have salvaged numerous deals and avoided those that would be a waste of time, money and energy.
It’s a valuable tool in many ways.