Searchers United LLC
Why You Need an Expert Title Search
If you are a DIYer or Internet pro, you may want to perform your own title search on a property, but it’s not an easy task. If you’re serious about purchasing a property, whether it’s residential or commercial, invest in a professional title search.
What is a Title Search?
A title search is the process of collecting and examining any documents regarding the ownership of a property. A thorough title search will reveal any court records, chain-of-title documents, and any liens filed against the property and when and if they were paid. The purpose of the title search is to confirm that the seller has good title and has the authority to legally transfer or sell the property.
Why Should I Invest a Professional Title Search?
In theory, you could go down to your local county record office, real estate tax collection office, and district court, and perform your own title search. But do you really know what you’re looking for? Even if you’re competent with documents and records, there are many things you could miss. It’s also a detailed, time-consuming and time-demanding process. In addition, a title company can perform a comprehensive search that goes beyond records you have access to.
A professional title search will:
- Ensure that the chain-of-title is complete and accurate. Any omission could lead to someone contesting your right to the property.
- Uncover problems with the existing title, like contested ownership or an undeclared heir to the property. The title search may also reveal co-owners or investors that were unknown to you.
- Some titles may come with conditions such as restrictions on rezoning, refurbishing, or use of the property. For example, if you’re planning to build an attachment to a house, you need to know what limitations or regulations may be attached to the title. If you’re buying commercial real estate, there may be clauses that require you to purchase the equipment and assets attached to the current business. And if you were planning to open a completely different type of business on the property, this could be a financial burden.
- A good title company will also keep an eye out for misrepresented ownership: forgery or poorly-done paperwork could make a title illegal.
- Reveal pending lawsuits or liens against a property, as well as outstanding mortgage payments.
- Make sure that the property taxes have been paid and are up-to-date.
- Recognize any legal flaws, mistakes, or omissions in the documentation that could render your right to the title contestable.
- Disclose any easements on the property. An easement—which may be recorded or usually unrecorded—gives a person the right to use part of your property for a specific purpose. It could be a as simple as a shared driveway or a neighbor may have an easement that prevents you from building a second story that would block their view.
- We also check any state or county laws that potentially affect the property.
Why Choose Searchers United LLC?
The staff at Searchers United LLC has been doing searches for decades. We know what to look for and more importantly, how to find it. We examine every detail, so you will know that you have a clear title to the property.
At the same time, we do recommend the purchase of title insurance. When you are investing significant dollars for a home or business, the small added expense to title insurance completely protects you. That why it’s called insurance. You hope you never to have to use it, but when you do, you are grateful you purchased it. Many realtors and banks also require title insurance before you can obtain a property loan.