The Importance of a Title Search:
When it comes to purchasing a home, a title search is a main thing that goes into the process of purchasing a home. A title search is a particular kind of search that reveals all the information on the title of your house. The results of the search will reveal the true owner, the existence of any tax liens against your property, and any other relevant information. This search confirms the ownership of the property and examines the public record of the home.
For a title search in the state of New York, title agencies may charge anywhere between $150 and $500. As an extra measure of protection against any possible issues following the closing, almost all lenders will want title insurance; this is often paid for by the buyer as a one-time charge. The current homeowner pays for the title search as a part of their selling fees. The average time period for a title search to be completed is between 24 hours to 72 hours. The time period can also vary depending on how far back the search must go.
A title search is extremely beneficial because it verifies the ownership of the property. These title searches are performed through many different sources such as deeds, tax liens, land records, and court judgements. In conclusion, they guarantee your ownership of the property and your potential to sell it in the future, titles are crucial. You need to safeguard your title from the present and the future in order to make sure it remains free and clear so you may sell your property in the future.
Looking to buy or sell your home on Staten Island? For all your real estate needs, look no further than Tom Crimmins Realty! Give us a call at (718) 370-3200, and we can provide you with professionally-trained agents who are flexible to all that you’re looking for!Posted by Tom Crimmins Realty on