The rights of a property owner in real estate are represented through titles. 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 seller might know they have no legal rights to give away the property while the buyer might find hidden debts associated with the company. People who want to mortgage their properties also need title searches.
A new mortgage lender will ask for the title search process so that they can get title insurance. There are two types of title insurances. The lender or the property owner can buy the title insurance. Title insurance will protect the property owner from unpaid taxes, loans, recording errors that might arise later. A buyer, also benefit from title search since it provides no complications are preventing them from legal ownership of the property. Before the insurance company issue a policy they make sure they conduct a title search to minimize risks.
Omitted heirs, fraud, undiscovered liens, recording mistakes are some of title insurance claims. The chain of title is the first step in the search process. 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 focuses on checking for unpaid property taxes.
Before the insurance is issued the seller must pay the unpaid taxes. During the third step an inspection is conducted to check and verify the size of the property as per the title. Judgment Search and title closing are the last two steps. Several companies offer title search services. ENusre that you select a company that offers the best deals for your title search process. You need the process to be fast so that you can save time and money. A company’s website can tell you how reputable a company is before you hire them.
Most online services save you time used during manual title searches. The benefit of online title searches is that it can manage large volumes of searches within a short time. The best thing with title-leader is that it can boost the morale of workers in the title search company making the process easy. Title leader facilitates profit generation within a title search process. If you are conducting a title search online ensure you use services from a reliable company such as title leader. Ensure the application you use offers every step of the search process on one platform. Before you start using the application ensure you consider the pricing.