Title Search for New Lender (Refinance)

Question:

Title Search

If I’m refinancing a commercial property which was refinanced a Year or so prior do we have to pay the same fees. Can the owner of the property obtain a title themselves or must it be done thru the lender?

Thank you in advance!

Sonia

 

Answer:

Hello, when you say “obtain a title”, do you mean a vesting deed? Or are you referring to a title search for liens and encumbrances?

Kimberly M.

US Title Records

 

Client response:

Hi yes sorry a title search for liens and
Encumbrance. We refinanced our
Commercial property just little over a
Year ago and we have to refinance again.
The cost for that was pretty substantial
And the broker is saying we have to do
Search again but is there a way to reduce
These costs by either doing it myself or
Not ordering every search ?

Thank you,

Sonia

 

Customer support response:

Depending on the county, some recorder offices provide access to lien and title records to the public. However, if there is a lender involved, they typically want to do their due diligence through a title company or attorney that they use for these preliminary title searches. In most cases a guarantee and/or title opinion is provided to ensure that there are no clouds on title or encumbrances prior to funding.

 

Thank you,
Kimberly M.
Customer support team
US Title Records Corp
Www.ustitlerecords.com
Email: Office@ustitlerecords.com