It is a basic part of almost any sales transaction that the buyer will want to know that what they are purchasing is, for the most part, free and clear of any problems. For instance, when someone in Florida buys a brand new car, they don’t expect to have to deal with any mechanic issues for quite a long time. On the other hand, if someone buys a used car, they understand that there might be issues that will need to be addressed sooner rather than later. But at least they know about the problem.
The same issues can pop up in real estate transactions. The difference is, however, that in most cases the purchase will be for a piece of property someone has owned before. When this is the case, of all the problems that could be present in the transaction, problems with titles can be some of the most frustrating.
A soon-to-be homeowner may be content to be the one who has to make renovations or replace a roof, but title issues may be out of the buyer’s hands. When a homeowner has problems with the title on their property, it could be in the form of a lien or judgment. Addressing these issues should be something for the present owner to deal with, not a prospective buyer.
At our firm we know how frustrating title issues can be, both for buyers and sellers. However, the problem is that a potential buyer will not know about these issues without a detailed title search, even if the seller knows about the problems already. That is why our firm places a premium on making sure that a careful and accurate title search is one of the highest priorities in any real estate transaction. To learn more about our firm’s approach to title issues, please visit our website.