When you’re buying a home, title research is an important way to ensure that your transaction will be smooth and uneventful. The more times that a property has changed hands, the greater the chance that there could be previously undiscovered liens or encumbrances on the title, commonly known as “title clouds.” In the event that there are any clouds on the title, they must be resolved prior to closing, and title insurance will help protect you from being forced to pay correction fees out of your own pocket.
Buying a new home is exciting, but it can also be a little intimidating. A large asset is changing hands for a lot of money, and before the title can be transferred, a lot of research has to be performed, and a lot of documentation has to take place. Most sales run smoothly, but what can you do to protect yourself if there’s a problem?
We take a lot of pride in our homes, and want to get the best possible price when it comes time to sell. But listing and selling a home is challenging, and we owe it to ourselves to hire the right professionals to handle the preparations for the sale and property closing.
No matter how many times that you’ve done it before, buying or selling a home can be a complicated process that requires a lot of research and paperwork before the property can legally and officially change hands. And the prudent buyer should always include in this process a decision to purchase title insurance to reduce your risk to title defects, commonly known as “title clouds.” Misfiled paperwork, liens on the title, and unknown heirs are just a few of the problems that you can encounter along the way, and, without title insurance, you run the risk of having to pay exorbitant legal fees out of pocket to resolve the clouds on the title.
Buying or selling a home or an investment property is hard work, no matter how many times that you’ve done it before. Once an offer is accepted, the hard work officially begins, and if you don’t have a great title service company helping you prepare for closing, you’re taking an expensive risk. But with so many real estate title companies competing for your business, making an informed decision can often feel overwhelming!