The field of real estate deals with titles which show legal possession of the property owner. A title search is crucial before you buy or sell a real estate property. Title search process involves analyzing various documents, papers, deeds and deals related to the property. The benefit of conducting a title search process is to help the buyer find out hidden debts or other issues, and the seller to verify they have the rights to sell the property. People who want to mortgage their properties also need title searches.
The lender would want to have got title insurance before they occupy the property. The title insurance are categorized into two. The lender can apply for title insurance or the real estate owner. A property owner requires title insurance to avoid unpaid taxes, loans, and errors related to recording. On the other hand, the property buyer needs a title search to ensure the property is free from legal problems. Insurance companies use the title search process to help them minimize risks when offering policies.
For instance, title insurance claims are fraudulent, unstated heirs, documenting errors, and unknown liens. The first step to the search is a chain of title. At first, the examiner starts by finding out the property history from the initial to the present owner. The property owner needs to be defined well if the examiner cannot trace the chain of title. The second step is the tax search to verify the present status of taxes on that property.
Before the insurance is issued the seller must pay the unpaid taxes. An inspection is done in the third step to verify the lot size stated on the title. Before closing the deal there is name and judgment search to ensure there are no judgments against the past owner. Many title search companies can help you verify your title. Among the many companies, ensure you choose the best. A reliable company will save you time and money by offering fast services. The best method to know if the company is reliable is by visiting their website.
A good company offers automated services instead of manual services that consume a lot of time during the search. The company can handle thousands of title searches using online platforms. The best thing with title-leader is that it can boost the morale of workers in the title search company making the process easy. Managers can function better using title leader application to know what workers are doing. The company you want should be trustworthy to offer the best online form for a title search. Every step of the title search process should be conducted under one platform. Consider the pricing of the services you receive.