If you’re involved in any real estate transaction, it is very important to make sure that a title search, a title examination and title insurance are part of the transaction. These items are at the core of any successful real estate transaction, and are imperative to making sure the real estate transaction proceeds smoothly. In the 20 years since First National Title Company was formed, we’ve performed thousands of title searches, conducted thousands of title examinations, and written title policies for millions and millions of dollars, and in our experience, they are all very necessary. Here are three very good reasons why:
Some people have careers that force them to relocate frequently, and some enjoy buying and selling investment or rental properties, but most people only buy and/or sell 3-5 homes over the course of their lifetime. The process can be intimidating, particularly in terms of the amount of required paperwork, and the number of professionals involved.
As closing approaches, there are many preparations to be made, and papers to sign. You can generally assume that all parties are operating in good faith, but even so, it is possible to turn up a defect when doing a title search (commonly referred to as title clouds). When that happens, the sale cannot proceed until the cloud is resolved, possibly resulting in lengthy delays and exorbitant legal fees.