- December 15, 2014
- Posted by: admin
- Categories: Judgement Liens, Lien And Title Search, Liens, Posts, Property Lien, Property Records, Property Records Search, Property Title Search, Real Estate Post, Title Companies, Title Conveyance, Title Reports, Title Search
How and obtain preliminary title and lien search records online?
Buying a new home or property you may be startled by the number of extra expenses that start getting added to the expense of the purchase. The buyer should expect to pay six or seven figures for the property. The commission for the broker and perhaps taxes have to be paid. Depending on the state. Smaller things can also add up. Many home buyers find themselves tempted to cut costs when it comes to having the property in question properly inspected and researched. This might be a matter of not having a surveyor check for subsidence or a property inspector for termites etc., but it could also mean skipping out on a detailed title search and searching for liens attached to the property.
How is a lien issued?
Liens are public notices attached by a creditor to a property announcing that the owner owes a debt to be collected upon the value of the property. In essence, the value of the debt is held against the property. As a buyer, it’s important to know about any liens against a property to ensure they are paid off before purchase. More importantly, understanding what is owed on the property gives you negotiating power. For example, if $200,000 is owed on a given property and it is listed for $200,000, there is no room for negotiation unless the seller has the funds to pay the difference. However, if the property is valued/listed for $200,000, and the seller only owes $100,000, the buyer knows that there is some room for negotiation.
Furthermore, liens are frequently recorded on a property being sold because debtors are selling precisely to pay their debts. If you make an offer on a home without first ensuring that all liens have been satisfied, you may encounter major problems during escrow and not be able to obtain a clear title without asking the seller to adjust the price and take the liability into account or arrange to have the liens paid and satisfied before closing.
Performing an online title search to obtain preliminary title information
U.S. Title Records can quickly investigate any given property in the United States for much less than the cost of a conventional preliminary title report through a title company and much faster (3o to 90 minutes upon order v.s. a matter of days). After performing a thorough title and lien search, extra security may be assured by purchasing title insurance. Lastly, title insurance will cover potential liabilities from any liens exposed or added at the last minute before the final sale and before any potential legal disputes arise regarding the title.
What is a title search and what is involved in the process?
States covered by U.S. Title Records services:
AL. Alabama – AK. Alaska – AZ. Arizona – AR. Arkansas – CA. California – CO. Colorado – CT. Connecticut DE. Delaware – FL. Florida – GA. Georgia – GU. Guam – HI. Hawaii – ID. Idaho – IL. Illinois – IN. Indiana – IA. Iowa – KS. Kansas – KY. Kentucky – LA. Louisiana – ME. Maine – MD. Maryland – MA. Massachusetts MI. Michigan – MN. Minnesota – MS. Mississippi – MO. Missouri – MT. Montana – NE. Nebraska – NV. Nevada – NH New Hampshire – NJ New Jersey – NM New Mexico – NY New York – NC. North Carolina – ND. North Dakota – OH. Ohio – OK. Oklahoma – OR. Oregon – PA. Pennsylvania – RI. Rhode Island – SC. South Carolina – SD. South Dakota – TN. Tennessee – TX. Texas – UT. Utah – VT. Vermont – VA. Virginia – VI. Virgin Islands – WA. Washington – WV. West Virginia – WI. Wisconsin – WY. Wyoming