·  Legal News, Analysis, & Commentary


Everything Related to Title Search Property Buyers Need to Know

— October 5, 2023

Find a trustworthy title company and get assistance. Their experience and knowledge will take care of your concerns.

Whether you are an investor or a homebuyer, you must know the entire background of the property you desire to own. Otherwise, you can be up against many troubles, such as legal issues, the burden of unpaid liens or mortgages, and restrictions on how to use that property. All these problems will be solved if the title is clear and with sufficient deed information. That’s why knowing who bought or sold the property, pending liens and loans, ownership, and other details are essential. However, it involves intensive research as some documents may only provide little information. Let’s dig into common difficulties faced with titles and a safe way to avoid them.

  • Title problems

A mistake at the end of a buyer, owner, or government official can prove costly for you. One of the usual errors in documentation pertains to title transfer. Suppose someone bought a property without getting the title transferred in his name. In that case, documents can show the seller as the current owner. Of course, it’s a challenge, but you can get that corrected to buy the property. You can even get a property from a seller who inherited it but lacks legal rights due to incomplete paperwork.

The other frustrating situation can be pending mortgages or liens on the property of your interest. You must clear those due amounts if you buy such land or building. Consequently, you can feel burdened because of the additional, unexpected expense. Sellers may or may not share these details beforehand. What should you do?

You can trust only a title search company. Title search professionals can determine all the essential data to help you safely own a property. Nevertheless, these are just examples. Property investment or ownership requires due diligence, as challenges can be multifaceted. For instance, deed restriction is another area to consider. The previous owner or Homeowners Association may have put certain conditions on the property in a deed or a separate file. No matter what, being aware of them is crucial to making that specific piece of land add value to your investment.

  • Title Abstractors

These professionals collect property records or the abstract of title containing ownership data, grants, restrictions, conveyances, and more. Due to this, you can check all the owners and sellers of the specific property along with the transaction period. It gives you a sneak peek into any loophole that may have occurred during the original documentation process. You can get them fixed and move quickly with your purchase without any mistakes. They can also help you with securing title insurance. Is this necessary? Yes, it is a must-have in some circumstances. Having title insurance for a significant investment is the safest way to cover your base against any issue that can emerge suddenly and cost you a bomb. If you are new to title searches, it is another solid reason to seek it.

  • Time needed to complete a home title

As per experts, a title search takes about 10 to 14 days. Although it gets completed within two weeks, there can be exceptions. So, it’s better to account for them. After all, your title insurance professional performs a detailed inspection to confirm how safe or unsafe a particular deal is. Plus, title policy also takes time compared to other insurances. Still, if your title abstractors specialize in this, you can expect some relief. Yet, you must allow them to examine all the public records to establish the rightful ownership of the property because this will help reveal any shortcomings linked with it. These errors are referred to as encumbrances. In the case of unresolved issues, the title professionals will try to fix them. The time taken for this work is called the curing period.

House and blue sky; image by Curtis Adams, via
House and blue sky; image by Curtis Adams, via

Property buyers rarely know about the complexity of this process as title experts take it into their hands behind closed doors. You will benefit if you are patient. Getting the title cleared before owing it is necessary, no matter how long it takes for inspection, searching, and rectifying the title. Once the title is clear, you can become its rightful owner without legal worries or unwanted surprises.

  • A few critical points

Title companies can charge about USD $1650 – 2500 to perform different administrative works attached to the property. These include documentation and coordination with parties participating in the transaction. However, it is only an estimate. Their fees can vary based on the transaction type, property value, location, etc. Do you live in the Greater New Jersey area? Please speak to a local company for this type of help.

Buying a property is a massive decision, regardless of the purpose. If you want to protect your investment, be aware of the procedures and adhere to them. First-time buyers should be more wary because sellers rarely share any issues related to the property. After purchasing it, the entire onus will be on you. So, find a trustworthy title company and get assistance. Their experience and knowledge will take care of your concerns.

Join the conversation!