🗝️ 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
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.