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If you are trying to sell a house, it is important to determine if there are any existing issues regarding the title of the house. If there are issues, they must be resolved before the property can be sold. In this article, we discuss how to resolve title issues when selling your house
Possible Title Issues
Some investors will buy properties at a discount to take care of title issues. At Big State Home Buyers, we take care of all title issues in house at no out of pocket cost to the house seller. Some of these potential issues include:
- Federal, state or local tax liens
- Liens for work done on the property
- Missing heirs with possible claims on the property
- Boundary or survey disputes
- Other claims on ownership
If you are an investor purchasing a property or a seller, here are some tips to help you begin the process of clearing a title.
Choose a Title Company
The critical aspect of this investment strategy is to be sure that there is thorough research into the title problems, preferably by a title or abstract company or attorney who specializes in title searches.
Choosing the right title company to work with is an important decision. Look for a company that is efficient, proactive in regards to problems and available for consultations. If you’re continually having to question the status of deals instead of having it reported to you, then you may want to look at another title company for your real estate investing team.
Find a Qualified Real Estate Attorney
Have you identified the title problems? Great! The next step is to contact an attorney who can begin advising you on how to correct the issues. The attorney will also be able to tell you how much it will cost to correct the problems.
When you are choosing an attorney, look for experience and credentials. Find out how many clients they have worked with, and how much success they have had resolving similar situations. Then, interview the attorneys in which you are interested. Ask them about their background and years of experience, how many closings they typically perform during a month or a year, what services they will provide, and whether they can give you the names of some of their clients as references. Ask up front what their fees will be and how you will be charged. (E.g., some lawyers bill hourly, while others set a flat fee.) After meeting them, research them online.
How to Save Time and Money Clearing a Title
If you are interested in selling your property or purchasing a property, you don’t have to deal with these title issues alone. We take care of title issues in-house.
For sellers, this means that you can sell your property without this extra work. Sellers can often avoid real estate attorneys by brining their business to Big State. Our extensive experience in title matters means that title matters that we can help solve most issues in house, in addition to the fact that the title company is a free service as a part of the transaction. We not only save you the trouble of finding a title company and real estate attorney, we also provide both at no cost to you as a part of the transaction.