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.
