Ben: Has anyone ever had any open permits or code violations come up on their transactions?
Ben: And how did you guys find out about that?
Audience Member: The city. When they did the lien search, the Title company.
Ben: Okay. So a lot of title companies, what’s going on is the lien search cost money. In Miami Dade and Broward, you’re pretty much looking between around $200 and $300 for that lien search. Title companies, someone needs to pay for the lien search. The title companies, what they’re doing, is their pulling the lien search after the inspection period. To make sure the transaction is solid, some do it when they get the contract, but this is how we’re finding out about these situations.
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