The Importance Of A Title Search During A Real Estate Transaction

title search

Purchasing a home requires a thorough title search before closing!

There is a lot that happens during a real estate transaction. Once you’ve found the home that you want to purchase, you need to make sure that the title to the property is unobstructed and thereby free and clear to be passed on to you, the new homeowner. In fact, without clear title, the real estate transaction could easily be thwarted, and all your efforts could be in vain. Here is some critical information about the importance of conducting a title search for any real estate transaction to be successful.

What Is A Title Search?

There are a variety of ways that a thorough title search impacts your real estate transaction. In fact, in Maryland, title searches can be located remotely via the online public records system or in person by going to the municipal courthouse and looking through the land records. The first and most important aspect associated with a title search is the ensure that there are entirely no breaks in the chain of title. This means that you need to make sure that the ownership of the property has been appropriately transferred throughout the full life of the property. As a result, if the title is devoid of any inconsistencies within the chain of title, then you never have to worry about someone claiming ownership of this property. Abstractors, who typically conduct title searches and search for any potential breaks in the title, will also look for any possible liens or encumbrances that may have been placed on the property.

How Far Back Does The Search Actually Go?

For the purchase, it is customary to undergo a sixty-year (60) search. However, in the case of a refinance, most title insurance underwriters will merely require a one owner search. While some companies may need a two owner search to make reasonable efforts to determine that the property is totally free and clear of any encumbrances, they are really just looking out for the best interests of you and the lender. Typically, a title search is conducted by a third-party abstractor who does not have any claim to the property itself. The abstractor’s job is to run the title search on your property or the property that you are thinking about purchasing.

A Title Company You Can Trust: Colony Title

At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy and sell your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.


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