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Why coop lien search also search buyer’s records?

Started by NewComer17
over 7 years ago
Posts: 65
Member since: Jul 2017
Discussion about
Just got a copy of lien search report. Surprisingly found that the title company also searched buyer’s UCC, judgements and bankruptcy etc. More than that, they also searched persons whose names are similar to buyers and more than 50% of the report is showing those invented fake name person’s UCC, judgements and bankruptcy etc. The purpose of the lien search is to find if there are any liens or judgements against sellers/property/building and to protect lender and buyer’s interest. Is it normal or a general practice in NYC to also search buyers and include them in the lien search report?
Response by RiddhiBman
over 7 years ago
Posts: 112
Member since: May 2015

Hmm, did some research on what it shld look like: https://www.hauseit.com/coop-lien-search-nyc/

And I do believe that is very strange and unusual. Should be focused on the seller/property.

Sounds like you are the buyer right? Not end of the world as I'd presume it's just you and your lawyer seeing this report.

Do you have a buyer's agent as well? Are you getting a closing gift or closing credit from your buy side agent?

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Response by NewComer17
over 7 years ago
Posts: 65
Member since: Jul 2017

Thank you RiddhiBman!
Yes, I am buyer. Both my lawyer and bank attorney see this report.
I have an agent but I don't get any closing gift or credit from the agent.

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Response by hacker
over 7 years ago
Posts: 0
Member since: Mar 2018

I checked the 900 fifth ave unit 2b and there is a major issue in the court. Is it the reason not to sell?

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Response by 30yrs_RE_20_in_REO
over 7 years ago
Posts: 9877
Member since: Mar 2009

If you were lending money on personal property, would you want to know if there were IRS liens, judgements, unpaid parking tickets, etc. which were on them personally and predated your loan?

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