After an offer is accepted, attention often shifts to financing, inspections, and preparing for the move. At the same time, another important process is underway: researching the title to the property.
What Is Being Researched?
A title search takes a closer look at public records related to the property.
The title team reviews documents that help establish the history of ownership and reveal matters that could affect the new owner’s rights to the property.
This research may uncover mortgages, liens, tax obligations, judgments, easements, or inconsistencies in recorded documents.
What Happens if Something Is Found?
Not every title search comes back without questions. Sometimes an issue needs additional attention before the transaction can be completed.
Depending on what is discovered, resolving the matter could involve obtaining additional documentation, satisfying an outstanding lien, correcting a record, or working with the appropriate parties to clear the issue.
Why Buyers and Sellers Should Care
Title problems can affect both sides of a transaction. Buyers want confidence in the ownership they are receiving, while sellers want to avoid unexpected issues interfering with closing.
Completing a thorough title search early in the process gives everyone more time to address potential concerns.
Helping Prepare for a Successful Closing
There is a lot that happens after a contract is signed. The title search is one of the key steps that helps bring all of those pieces together before closing day arrives.
If you are preparing to buy, sell, or refinance a property, contact Clarion Title Company. We can help answer your title questions and guide you through the process from contract to closing.