What paper pitfalls are out there? (i.e. liens, titles, etc.)

2 Replies

I'm brand new to real estate and reading up on the general transactions of property purchasing & selling, but it seems that there are non-physical pitfalls such as liens, titles, and possibly others.  I only know that liens are generally taxes/debts that have not been paid on a property and the title is who owns the property, but I've heard titles can be more complicated than it sounds.  Are there other potential non-rehab/non-tenant pitfalls that result in a deal costing more money than anticipated or even the collapse of the deal itself?  I'm just trying to clear up my naivete. 

Sincerely,

The Noob - Tony

@Anthony Rosas Title insurance usually takes are of those issues. Some kind of bad title lost in translation decades ago or any kind of encroachment that was over looked.. Never waive the fee when offered. Sometimes you will come across a property that is sold as is with no warranty. That's when it gets tricky and you need advice from you realtor or attorney.