A title search is a way to determine whether the person selling a property really has the right to sell it. It protects the buyer by confirming the property’s legal ownership. And, finding out if there are any claims on the property.
Several things that are examined during a title search chain of title are: This is a review of all historical title transfers from the current owner back to the original owner.
Search, this determines the present status of any real estate taxes, other taxes owed on the property report on possession.
Inspectors are often sent to the property. They verify the lot size, easements or improvements, a judgment, and a name search. Thus, the search looks for any unsatisfied judgments against the seller or other previous owners that might have put a lien on the property.
Once these searches are completed, the title company issues a commitment to ensure and states the conditions under which it will ensure the title. If any defects in the title are found, they must be cleared up before the buyer-seller and mortgage lender can proceed with closing the transaction.
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One of the reasons to call Agardi Team if you want to buy a home or have one to sell:
Not only do we sell our clients’ homes for more money and faster than the average area agent. Your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.