Title & Lien Searches
Did you know that 1 out of every 3 title searches have title issues? When you choose a title company you want to make sure that the title professional is doing their job in researching and resolving any title issue on the property prior to closing. This is why we rely on our underwriters to perform our title searches. After all, they are the financial source if a claim were to arise. They provide us with a title commitment within 24 hours of placing the order. Once we receive the search, our processors begin to clear title by ordering payoffs, estoppels and curing any title defect the property may have. Our staff will immediately communicate with all parties in order to make aware of any title issues that can hinder or delay a closing. We work with the sellers, buyers, lenders and realtors in obtaining the information we need to clear title and be ready for closing on a timely manner.
Municipal Lien Search
Did you know that a city can place a code violation with daily fines on your property which can result in a future lien on your property? It is the title company’s responsibility to provide you with an accurate municipal lien search. This type a search is not the same as a title search. Title companies rely on a 3rd party Lien Search company to conduct these searches. These companies front the costs to the city where the property is located to obtain written information directly from them for water balances, real estate taxes owed, open permits and code violations.
An example of a code violation is work done without a permit. A previous owner decided to convert their garage to a bedroom without obtaining the proper permits and the city determines that the work done needs to be demolished. This leads to code violations and daily fines against your property. We use reliable lien search companies to conduct these types of searches. They are very detailed in their summary of findings and also provide written payoffs and instructions on how to resolve any open permit and code violation with the city. Once we receive these reports we immediately pass the information to all parties so that the necessary measures can be taken prior to closing.