We Understand The Ins And Outs Of Real Estate Law

Is a title search necessary when buying a home?

On Behalf of | Oct 18, 2024 | Real Estate Transactions

Conducting a title search is one of the most important steps when buying a home. You don’t want unpleasant surprises after purchasing the property, such as unresolved ownership claims, boundary disputes, unpaid taxes or liens.

A title search involves examining public records related to the property, like deeds, mortgages, tax records and court judgments. The aim is to verify the seller’s undisputed ownership of the property and ensure no existing disputes that could affect you legally, financially or otherwise exist.

A title search also looks for encumbrances, such as easements, which could affect how you use the property. Once the search is complete, a title report outlining the findings is issued. Any unresolved claims must be cleared before the sale can proceed.

Avoid unnecessary risks

Without a title search, you could inherit problems tied to the property as the new owner. For instance, you might be responsible for unpaid taxes or repair bills the previous owner never settled. Additionally, unresolved boundary disputes may lead to legal challenges or other restrictions.

These issues can derail your dreams of finally owning a home and potentially lead to draining and costly legal battles. Lenders are also likely to be more hesitant to offer financing without the assurance of a clear title.

Purchasing title insurance is equally prudent to protect your interests as a potential home buyer. This covers you against future claims or defects in the title that might arise after closing the deal.

Protect your hard-earned investment

Navigating the complexities of the home-buying process can be daunting, and given the significance of your investment, you cannot afford to make mistakes. Having experienced legal guidance can help you safeguard your interests.