Why is a Property Title Search Important?

Getting the shiny keys to your new home is so exciting! But knowing what you’re getting into before you sign on the dotted line and move in is really important. A title search will find property liens and other issues (encroachments, etc.) so you and your family can have all the information you need to make a great decision.

The Benefits of a Title Search

Performing a property title search through a reputable title company has many benefits. The discovery of any issues early on, including property liens, will help to limit delays and potentially save you a lot of money.

For example, if there is a lien on a property you are interested in, an early discovery can be settled prior to further complications such as difficulty with getting a mortgage loan from a financial institution. One of the most common property liens is money due for taxes. All property liens have to be settled before the home purchase is finalized, so these funds could potentially be negotiated between the buyer and the seller.

If a property lien for unpaid taxes is on the books and the home sale goes through — local government agencies could attempt foreclosure on the home. Taxes are attached to a home, not a person, so the current owner could be liable for those funds. Other property liens can be filed for various reasons including for work on renovations that were unpaid, child support payments, and even credit card debt.

Without a property title search, an undisclosed debt, encroachment, or other issues could come up at the closing table — throwing a wrench into the whole process at the last minute.

Making the Right Decision

There is certainly a lot that is involved in making the right decision for you and your family when it comes to the purchase of a home — from the size, type, location, appearance, and so much more. But making the right decision is not only dependent upon the house itself; it’s the history and any existing issues or problems.

A property title search with an experienced title agency is critical in the decision –making process and to make the closing experience efficient, smooth, and successful.

Whether a search uncovers a property lien, an encroachment, an issue with the chain of title, or otherwise, due diligence makes a significant impact on your family’s future, and your financial future too. Title insurance will protect your future financial status as well — covering potential claims that could arise out of unrecorded issues with the property title after the sale is final.

If you are getting ready to buy a home, it is important to connect with a title agency early in the process. This will catch possible issues early so you can decide what you want to do including negotiating with the seller on property tax liens or other actions to clear the title.

Contact Bay National Title Company today for a no worries, no hassle, smooth closing experience.