The Importance of Title Search Services

by | Jun 13, 2017 | Lawyer

Part of the process of buying property is having a title search done. Someone at an agency will pull up previous records on an existing property to make sure that it is free to be sold. The search is important because if problems are discovered, it can keep you from moving into a house, getting it sold out from under you, and losing any money that you’ve invested in the property.

What Is a Title Search?

A title search is the history of a property, such as a house. Documents are retrieved from the county that show when the house was originally built, each time it was sold, its mortgage history, and whether there are liens on the house. A title search can also find discrepancies in records that could prevent the transfer of a property from the seller to the buyer.

These discrepancies could be a lien on the property because money is owed by the seller for back taxes, a property titled under more than one name, or a fraudulent deed. Any of these problems can prevent the sale and transfer of property to the buyer. Comprehensive title search services can take several days but once it is done and no problems are found, the property transaction can be closed.

Who Conducts a Search?

A search is usually initiated by the escrow holder or by the intended buyer if the property isn’t going into escrow. Most title insurance agencies also provide title search services when they are needed. Although title searches can be done by anyone, it’s better to have someone knowledgeable in real estate transactions perform them because they will be familiar with the terms used in real estate documents.

If you’re buying a house, Prestige Title Insurance Agency can conduct the title search for you. Contact them at 517-264-6040. You can connect with them on Facebook for more information!

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