- October 11, 2013
- Posted by: U.S. Title Records
- Category: Real Estate Post
HOW TO DO A TITLE SEARCH – REASONS A BUYER MIGHT NEED A TITLE SEARCH
There are many reasons people would need to use property title searches. The benefit depends on a person’s or entity’s wants and needs. Our clientele includes soon-to-be-homeowners, current homeowners, investors, businesses, financial firms, lending institutions and law firms. Our clients use the property records and lien reports to research and evaluate a property’s status, property data, title condition and transaction history, to make informed decisions and calculated offers. The bulk of our clientele want to know who owns a given property and how much is owed on the property. Homeowners, or other interested parties, also order the Full Property Report to view any foreclosure activity on the property whether there is a Notice of default (pre foreclosure) or bank owned (REO).
“Buyer beware, one of the more risky moves in purchasing real estate is making an offer to purchase without checking to see if there are liens, encumbrances or land restrictions for the subject property.
Another common mistake is not performing a title and lien search when the purchase involves seller financing or an and owner carry contract. In some states liens are not public record and not as easily accessible. After a preliminary title and lien records search, a title insurance policy from a local title company is always your best insurance to reduce any future liability and ensure clear title during and after escrow”.
U.S. Title Records