During the home buying process, many people don’t consider the critical steps to obtain the title to their next dream home! A title is your ownership right to your property. Besides, no home-buyer wants to inherit existing debts or legal issues that could interfere with their property rights in the future. Ensuring a clear title allows you to use or modify your property with a little less stress.
Tip 1: Perform a title search early
A title search should be performed early in the home buying process. A good real estate agent and title company will be proactive about uncovering issues that could limit your rights to the property. In fact, if a title issue is discovered, most often your title company will take care of it without you even knowing. That is why it is important to have a company that you trust handle the title! The title search protects you from unknowingly inheriting a previous owner’s debts, legal obligations or other title problems. After any title problems are fixed, you can purchase owner’s title insurance.
Tip 2: Obtain title insurance
Sometimes unknown errors or omissions can come up after the initial title search. Title issues could include forgery, fraud or clerical errors. By obtaining owner’s title insurance, you protect yourself from losing your property.
Tip 3: Come prepared to your home closing
Closing is the final step in executing the home buying transaction. It is the process that allows the transfer of ownership to occur. Thus, being sure that you have all the proper documents, identification and finances arranged ensures that you can finally purchase your property.
At Allied Title & Escrow, our team of industry experts and attorneys have over 25 years of experience in title, settlements and real estate transactions. Headquartered in Arlington, VA, we provide residential and commercial services throughout all counties of Northern Virginia, Washington DC and Maryland. We strive to provide the highest level of service and will handle all aspects of the settlement process.