What is a title search and why should I do one?

A title search is a process that provides a legal review of a property’s records to determine who owns the property and if there are any liens, easements, or other restrictions on that property. In Delaware, title searches are often done before buying or selling residential real estate. By doing a title search, buyers and sellers can confirm that the property is free and clear from any existing liens or restrictions. For instance, if the seller’s former mortgage lender has placed a lien on the property, that lien will need to be paid off at closing before the sale can move forward. Likewise, if there is a homeowner’s association on the property with special restrictions, these will need to be addressed before closing. A title search is also a helpful tool for buyers, as it can reveal any potential legal issues that may affect the future of the property. For instance, if there are any encroachments onto the property or unpaid taxes, that could be an issue down the road. A title search will alert buyers to these potential issues, helping them make an informed decision before purchasing. In summary, a title search is an important process for buyers and sellers of residential real estate in Delaware. It allows both parties to understand the legal rights and responsibilities associated with the property, ensuring that the purchase is both secure and in the best interests of all involved.

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What is a title search and why should I do one?

What is a title search and why should I do one?

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