That property you’re eyeing may seem like the deal of a lifetime, but before you pull the trigger on investing, don’t forget about the title! All too often, investors and business owners don’t do their due diligence and overlook title issues that could put them in severe financial danger.
At its simplest, a title review confirms that a seller actually owns the property they’re selling and legally has the right to transfer it to you. You can also use a title review to uncover maintenance agreements, utility easements, and liens against tax-distressed properties.
Learn more about PureTitle’s tax sale solutions and what we can do for you below.
Our Title Review Services
At PureTitle, our team gives investors all the resources and knowledge they need to navigate the buying and selling process. We’ll arm you with invaluable information before making a purchase or sale. Here are just a few of the title review services we offer at PureTitle:
Title Examination
Before you make a deal on that great property, you’ll need to know whether the title is error-free. It’s not uncommon for title reports to have mistakes in them that are very easy to overlook. If you don’t spot them in time, it could cause serious trouble for you or your business.
During a title exam, we’ll carefully look over the report for legal claims, unpaid taxes, and inaccurate information. We also check for exceptions, such as:
- Workers’ compensation liens
- Unresolved building code violations
- Encroachment/boundary issues
- Tenants’ rights for continuing lease terms
Title Commitment Review
Is that property you’re planning to buy insurable? No matter how perfect a property deal looks, defects in the title commitment report could make it uninsurable until they’ve been fixed.
Title insurance is a type of insurance that protects both buyers and lenders from loss due to defects in the tile, like back taxes, liens, and conflicting wills.
As part of our title review services, we’ll thoroughly explain the title commitment report to you, make sure the subject property is insurable, and help you buy insurance for it. If we spot any problems that make the property uninsurable, we’ll work with underwriters and carriers to get them fixed.
Easements
An easement is a legal right to use someone’s land for public or private purposes. The type of easements attached to a property can make or break a deal. Some easements benefit a property; others, not so much. Easements could include:
- Utility
- Slope
- Drainage
- Parking
- Access
- And others
For instance, if a property has a utility easement, it means that the utility company has a right to access land near utility structures, such as telephone poles and electrical lines. A slope easement allows for the creation of a sloping transition between properties.
At PureTitle, we will check for property easements and help you understand whether they’re beneficial to you.
Closing Services
For many investors, closing is the most exciting part of any real estate deal. At PureTitle, we can help you prepare a HUD-1 closing statement that outlines all fees, taxes, and charges. We’ll also assist you with signing and exchanging all paperwork needed to resolve collateral issues and convey the title.
Our Other Title Review Services
Other title review services we offer include:
- Verifying the Chain of Title (everyone who ever owned the property) through public records searches
- Identifying all parties in the Conveyance Deed, Purchase and Sale Agreement, and ancillary documents
- Title grading based on the property report
- Searching for bankruptcies
- Describing judgments, liens, taxes, mortgages, and deeds to you
- Uncovering restrictive covenants, right of first refusals, and unknown or undisclosed agreements
Reach Out to PureTitle for Title Review Services
PureTitle has years of experience helping clients avoid financial pitfalls when investing in tax-distressed properties. We’re committed to protecting your investments and guiding you through the complex buying and selling process.
To learn more about our tax sale services call (504) 300-0520 or request a quote today.
