How do I find out the mortgauge on a commercial property both balance and holder?

I want to find out for specific properties or perhaps some sort of list. This is in California for hotels.
In Buying Property - Asked by Keith J. - Jun 10, 2009
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Answer(s)

Paul S.
Broker/Agent
Glendora, CA

Go to the public records. In California any title company can get you the information on the lein holder. The original balance of the loan will be the only thing on record. The current balance is not public record.

Jun 10, 2009
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Keith J.
Developer
Belmont, CA

How much would a title company charge for this? What exactly would I ask for, is there a particular named report?

Jun 16, 2009
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Paul S.
Broker/Agent
Glendora, CA

Keith
Agents can get the information without charge. I don't know if a title company will charge you if you are not an agent? You can ask them for a list of properties with specific criteria. paulsylvester@remax.net

Jun 17, 2009
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Kim B.
Broker/Agent
Columbus, OH

Keith
Mortgages will be recorded in the in the county where the real estate is located. Most County Recorders have a website these days. You may have to sign up to see the information on line. If the records are too old however, they will not be on line. You willl have to go to the recorders office or call and they will generally help you. The only fees they charge is to copy or fax. Altho as Paul said, the amount will be the original loan amount. The current balance will not be public record.

Jun 19, 2009
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Howard M.
Broker/Agent
Discovery Bay, CA

Kieth,
What you are looking for is called a "Farm list" and it will show all of the hotels/motels in a certain county and the owners name and mailing address, assessed value of the land and improvements, etc. Up until 6 months ago, you could go to most any title company and request this information and they would provide it free, hoping that when you decide to buy a property you will use their escrow/title services. Unfortunately, there have been major changes to the laws in California regarding what a title company can give out to a client, so it is nearly impossible to get a farm list now. As was previously mentioned, if you have a specific property in mind, you can go to the county recorder and view the recorded documents on a property. For example, I recently heard of a hotel in my County (Contra Costa) that was in default. I can no longer get useful information from my title company so I went to the recorders office and they have 20+ computers available and you type in the address, etc and you can view the docs right there for free. You could also do this on the web by accessing the website of the county recorder, but you can't view the docs until you purchase them, so it's hard to figure out which ones to request until you see them. You don't want to order some of these docs over their website, as a deed of trust can sometimes be upwards of 30 pages!! If you do go in person, you can view for free or pay about $1 per page to get copies printed, at least in Contra Costa County.
If you have any questions or need any help with it, feel free to send me a note
Brian Mathews
brian@nhmb.com

Jul 1, 2009
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