Real Estate Tips from CBSELLSIT June 20, 2023

What to know about Title?

What's a title search & Insurance

What's a title search & Insurance

🗝️ An essential part of the home-buying process includes a title search.

This step involves verifying the legal ownership of the property and any potential issues or claims that could affect the property’s title.

💼 A title company or a real estate attorney typically performs this to help ensure a smooth and secure real estate transaction.

During the title search, the following is reviewed:
-ownership verification of the property
-any liens, mortgages, judgments, or other encumbrances on the property
-any boundary disputes or easements affecting the property
-unresolved legal issues related to the property, such as pending lawsuits, unpaid taxes, or outstanding judgments
-and more!

In addition to the title search, title insurance also safeguards against any unforeseen title defects or claims that may arise after the purchase of a property.

🛟 Owner’s title insurance protects the homebuyer from some common risks, errors, and disputes, and lender’s title insurance is often required by lenders as a separate policy.

While this might sound overwhelming, it’s there to avoid any unforeseen complications! And if you have any questions, simply DM me & I’d be happy to chat about this in more detail.