2007-03-20 12:20:52 · 2 answers · asked by drf2684 1 in Business & Finance ➔ Renting & Real Estate
You can do this on your own or call a title company and ask for a preliminary title report, or trio as some call it. They will have a fee but will waive it if you use them when you use them later for title insurance. I have never been charged the fee as they have no way of collecting it until you close and use them as your title insurer. What they or you will do is go to the county recorders office and search the property pin number for recorded events (Liens and easements) granted by or attached to the parcel on record. Then the property owners name gets ran for liens and judgements that could potentially attach to the property title. For example a person could tell you they owe 100k and will sell you the house for 110K market value 125K you find there is a lien they were unaware of for 7K thats why a title search always preceeds any offer I make. Sometimes there will be in the chain of ownership a issue that could be as simple as a old lien that was never reconveyed.
2007-03-20 12:35:59 · answer #1 · answered by Myron 4 · 0⤊ 0⤋
They search public records to find out the chain of ownership and if there are any liens on the property you are considering buying.
It's not rocket science. They hire high school drop outs and housewives and train them...this is why you pay title insurance.
2007-03-20 12:34:48 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Find a title company in the county the property is located in and they will run it if you have the address or the parcel number. They used to do them for free. I think they still do. Good Luck!
2007-03-20 12:29:18 · answer #3 · answered by lag_time2 5 · 0⤊ 0⤋