The sell of a home can be a complicated process. One of the greatest assets in the process of selling a home can be finding a residential real esttate title company. This guide will help you understand the benefits to working with a residential real estate title company in Jacksonville during the sale of a home.
One of the most important things that a residential real estate title company does is perform a title search. During this search, the company will make sure that there are no obstructions that can make it impossible for the new owner to receive a clean title when the sale is complete. These issues must be taken care of before the title can be handed over to the new owner.
Examples of problems that may come up during the title search include:
Current mortgage owed by the seller
Homeowner Association dues
Leases to renters
Perform Property Surveys
A residential title company may perform a survey of the property. The overall purpose of this survey is to establish and verify the home’s boundaries. During the survey, the company will also assess any intrusions onto the property by neighbors, such as a fence placed in the wrong spot or foliage that has grown onto the property from the neighbors.
Issue Title Insurance
A residential title company will also issue title insurance to the new buyers. The purpose of this insurance is to protect the new owners from any further claims to the property. Although a thorough title search has been conducted at this point, some issues may be impossible to discover ahead of time. Some issues that a residential title company may guard against include filing errors and undisclosed heirs of the original property owners trying to make a claim.