When to do a title search?

Question

There are a bunch of legal issues involved in any transfer of real property. I think one of the biggest misconceptions that people have relates to the process of "title search" and "when to do a title search". I always would advice that a title search be done by a knowledge individual in real estate law before signing any contract. A person should really know what he/she is bargaining for before entering into contractual obligations.

I have seen to many people stuck in a bad position having entered into a contract before a title search and sometimes even without any title search at all. While title insurance is great and all, it does NOT automatically eliminate everyone from their contractual obligtions!

So to answer your question, get an experience real estate expert (non-generic personnel who will not make mistakes) to do a title search before signing anything.

NOE R. · Answer

The seller and buyer must fill out an statement of information, that way the Title Company will run a general index and find out if there will be any other liens which may affect the Title on the property.
Otherwise the Preliminary Title Report is just on the property, anything that may affect to the new buyer and lender.

Andrew Massaro · Answer

I don't do a title search until I have a buyer. I ask the seller if there are any liens, or debts, attached to the property. If they say no, I roll with it. If they say yes, I add that to what they owe on their existing loan.

Once I find a buyer, I forward all docs to the title company, and at that time the title search is done. If they find something, I deal with it then.

That's just me, though.

James Hiddle · Answer

Ok I agree with you in doing a title search before you sign contracts but what does an attorney have to do with doing one?

I do title searches because I want to know if there are any liens or judgments on the property. Why should I hire an attorney for that?

When to do a title search?

3 Replies