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Don't Ignore the Risks -- Get the Title Examined Before Commencing Real Estate Transactions

Jun 29th 2015 at 4:04 AM

Title examination is a central part of the real estate negotiation phase. While the proper is under contract, it is legally in a middle ground while price is hammered down and the property undergoes a series of inspections that can continue until the deal closes. During this time, if any issues arise, any party can back out of the negotiation. This mostly protects both sides.

The buyer is not fully protected unless a title examination is completed. The title examination checks public records for huge variety of problems that could legally complicate the transaction or bring it to a full stop. Legal complications with a title could mean losing a dream home or paying a huge sum of money for a false piece of paper.

The legal team from a title examination company can provide a few things. The first service is a complete and experienced title check. These teams are able to cast a wide net looking for most problems that arise during a transaction.

Another service is a negotiation with the seller to fix any unresolved legal problems with the title. The final service is an insurance on the title which will refund the buyer from any damages caused by an unlawful deal. Between these three services, the new homeowner is fully protected. A lender service in Boston can provide all of these services with the experience necessary.

A title can be unmarketable for a wide number of reasons and not all of them are listed publicly. Bankruptcies, mechanics’ liens, missing heirs, and missing parcels are all possible to find under public record but it is possible that human error has clouded the document. Many things are lost or go unrecorded and buying a home is a huge investment. The title exam confirms the legitimacy of the deed and protects the investment.

Title services are vital to the real estate market because it enforces fair trade and honesty in ownership. Buying a home is hard and the process can be complicated. However, professionals are available to help the process move along quickly and fight back any rising problems.

The title clearance is mandatory during the process and must occur while everything else goes through. It must be verified that the house is up to standards, the title doesn’t have any liens or restrictions. Once the finances are available, the deal can close and the buyer can enjoy a safe new home.

About the Author:
This article is written by Joshua F. Pompilus, Esq., who is associated with OneBoston Title & Closing Services, P.C. It is a versatile, full-service title insurance agency providing buyers, sellers, asset managers, real estate agents/brokers, banking institutions, loan officers and lenders with exceptional title insurance and real estate closing services.

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