? for JT-IN I did my own title search Hope I'm OK - Posted by Eric (ohio)

Posted by JT-IN on July 22, 2003 at 23:11:41:


You are probably Ok, but I hate relying on “probably”…

I never do a title search… before buying at Sheriff Sale. What I do within a day following being the successful bidder at sale, is have my title atty do a full title opinion. (THIS ADVICE PERTAINS TO OHIO ONLY, here). 99 times out of 100 they are Ok, but if the search would dig up a problem, you could petition the court to set aside the sale… Of course the problem may be fixable before confirmation, and if so the Plaintiffs Atty is normally motivated to submit the fix… provided it is before the confirmation… If it is after the confirmation, you might as well forget asking them to take care of a problem. During this period you at least have some leverage; following confirmation, you have NONE.

I have had a number of problems prior to confirmation that didn’t involve notice to a jr. lender or lienholder, but nonetheless, there are administrative problems with foreclosure complaints and judgments that should be reviewed by your atty prior to confirmation. I have had issues with double recording of liens, incorrect Plaintiff named in the lawsuit, Registered land issues that were not properly addressed and filed, etc… etc… All these problems would have been catisrrophic is discovered when attempting to convey the property 6 months or 6 years down the road… Bottom line is, a title search by a foreclosure savvy atty, following your purchase at Sheriff Sale, is invaluable…

There are some mighty sloppy foreclosure factories out there… which crank out some horrendous documents that just don’t quite pass the muster of title work for conveyance… Once the foreclosure is over, (confirmed), it is no longer their problem. It is truely buyer beware, at that point.

Yes, I bought a property in Mariemont… we’ll see how it turns out… Should be ok, as that area is a hot one…

Hope your new acquisition turns out to be everything you had hoped for… When the 2nds don’t defend their position, such as the one you just purchased, it is a golden formula for an investor to make a buy…

Just the way that I view things…


? for JT-IN I did my own title search Hope I’m OK - Posted by Eric (ohio)

Posted by Eric (ohio) on July 22, 2003 at 19:14:00:

I purchased a sfh at sheriffs sale today in Clermont County.The 1st mortgage (Countrywide) was foreclosing. There was a 2nd mortgage also.

I researched the title on my own. I maybe getting a little too confident. I normally get a title examiner to look at it on the rare occasion that I get one at sheriffs sale.

I reviewed the common pleas docket and found that the 2nd mortgage holder did receive certified mail service as to the foreclosure complaint. The county treasurer also received the same service and responded to the foreclosure complaint.

Looks good to me so far.Everyone having an interest in the property was notified of the foreclosure. The only thing nagging at me is why would the 2nd mortgage holder not answer the complaint to state their position? I called the title examiner that I know and she stated that it doesn’t matter if they(2nd) didn’t respond as long as they received service of the complaint. She went on further to explain to me that this occurs all the time. Nothing to worry about?? If so the 2nd just wrote off about 48k.

Well anyhow I’ll be the proud new owner of another ugly house once the sale is confirmed. I just hope I don’t have a 2nd mortgage to contend with.

P.S. Your name sort of clicked a while back when I was scanning the court index. Did you just by one over in Mariemont?

Thanks, eric