Monday, March 4, 2013

The importance of doing a pre-market title search!



1) A divorced takes place and you are awarded the home; this does not prevent the X from placing a lien on the property!
2) Parents pass away and the property is left to the siblings, if any of the siblings have liens against them most title companies will require those liens be paid off out of the proceeds at closing!

Over the years these scenarios have happened to several of my past sellers and what an upsetting and sometimes costly surprise this has been! Sometimes an attorney needs to be brought into the equation to help resolve or come to an agreement on the issues between the parties.
With most sales and especially divorce and estate sales, I highly recommendation doing an advance title search, you never know what you might find, but whatever you do find by doing so in advance will give more time to resolve the issues for timely closing.

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