Buyers Beware! These Common Title Issues Can Delay Your Closing

It’s not uncommon for title issues to arise during closing, causing delays and an avalanche of legal headaches.

The process of buying or selling real estate can be both exciting and stressful. Ideally, both property owners and buyers want to ensure the transaction is free from encumbrances or legal issues. Unfortunately, there are a number of common title problems that can impede the closing process and cause serious legal headaches, too. Clerical errors, title defects, illegal deeds, and more can obstruct or even block your closing. Working with a trusted title company like Certified Title Corporation is important in helping you to navigate potential pitfalls and ensure a smooth closing.

Read below to learn about four common title issues to watch out for.

1. Clerical errors

Often, a property has a detailed record of all transactions and ownership changes related to it. The content of these types of records is subject to human error. Filing errors or mistakes entered into public records can lead to inaccuracies in the chain of title. These errors can range from minor typos to more significant mistakes that impact the validity of the title. Mistakes may carry over from one sale to another before they are caught. Don’t be the one caught holding responsibility for any issues. A thorough title search by a reputable title company can help you identify and correct any such errors before closing so that they do not continue to be a problem.

2. Title defects and illegal deeds

These can occur when the previous owners of a property fail to disclose or resolve liens, judgments, or other claims against the property. Title defects can also arise due to boundary disputes or issues related to property lines. When left unresolved, these issues can be complex and may require lengthy and costly legal action. Owner’s title insurance can help protect you against any financial losses that may result from these issues. Additionally, you can protect your real estate transaction even further by working with a title company. These experts can help you to identify potential issues well ahead of your closing date, saving you time and avoiding possible legal entanglements.

3. Missing or incomplete documents

Issues like these may need to be resolved by legal action as well. Title companies perform thorough title searches on behalf of their clients. These searches identify any missing documents or gaps in the chain of title. A reputable title company like Certified Title Corporation will work diligently to resolve any issues before closing. Working with a title company can also help ensure that the chain of title is clear and free from any gaps or missing documents in advance of closing.

4. Problems stemming from the previous owner

For example, they may have failed to pay property taxes, which will complicate the sale. Another potential issue is that the previous owner may have skipped paying their homeowner’s association fees. This can lead to liens or other claims against the property. Don’t accept surprises as a natural part of property sales and acquisitions! It is possible to identify and resolve issues before closing with the assistance of a knowledgeable title company.

To ensure your closing is smooth and stress-free, rely on Certified Title Corporation.

Our team of experienced professionals will help you navigate any potential title issues related to the property in question. With our expertise in title searches, the chain of title review, and other aspects of the closing process, we can identify any issues and rectify them prior to closing. Additionally, we offer owner’s title insurance to protect you against any potential financial losses resulting from title defects or other legal issues. Working with us allows you to proceed confidently with your real estate transaction.

Don’t let common title issues delay your closing or put your real estate transaction at risk. From identifying title defects and errors in public records to resolving boundary disputes and other legal issues, Certified Title will protect your investment now and into the future. Contact us today to get started.

About Certified Title Corporation: Since 1994, attorney-owned Certified Title Corporation has been furnishing residential and commercial real estate stakeholders across the nation with robust title insurance, settlement, and escrow services. Renowned for their industry-leading reliability and exemplary level of service and quality, the Maryland-based company helps clients from all walks of life achieve their asset goals. To learn more, call (888)486-5511 or visit https://www.certifiedtitlecorp.com/.