If there are serious problems found in the chain of title, the title insurer will report those matters and also exclude them from coverage.
Through title search and research, it is often the case that a title will have previous liens and taxes that are owed. In some cases, this has been discovered after the purchase of the home.
The kind of problems that arise with a title usually involve issues with the estate, with liens, with ownership, erroneous public records, forgeries, survey or boundary line issues, unaccounted-for errors, unknown liens, unknown easements, undiscovered encumbrances, an undiscovered will and even false impersonation of a previous owner.
Sometimes they can be requests for additional documentation or additional repairs to be made that were not completed.
The Partial Checklist Includes:
■ Search provided in 2 to 3 days
■ Clear title
■ Have a dedicated closing professional available to answer questions
■ Ability to clear all title issues
■ Have all documentation necessary for closing in advance
■ Confirm disbursement of funds
■ Confirm dates and location of closing