3 points you should know about a title search on a home

On Behalf of | Dec 12, 2022 | Real estate transactions

The home-buying process is complex partly because of the many steps that come between finding the home you want to purchase and being able to close on it. During the process, you’re going to make an offer on the home. 

Once the officer is accepted, a title search must be done. This helps the mortgage lender find out if anything in the title needs to be addressed. 

Reviewing historical data

The title search involves going through all the historical data on the home. This includes every sale of the home, as well as transfers. 

Prevention of ownership questions

Because every transaction related to the ownership of the home is reviewed, the title search can let you know if the current seller has the right to sell the home. If they don’t have that right, the sale of the home can’t happen unless the title records are updated to reflect the seller as the current owner.

Information is unearthed

Various information can be unearthed during a title search. This could be things related to the property boundaries, unsettled liens or unpaid taxes on the home. All of this information is valuable when you’re considering purchasing the home because it’s all stuff that can come back to make your life more difficult in the future.

Ultimately, your job is to protect yourself when you’re purchasing a home. Making sure the title is as represented is one way you can do this. If you find out the title is amiss or that there’s something else wrong, having someone on your side who can uphold your rights is crucial.