Judgments On A Commitment: What Can You Do?


Conducting a title search covers several possible issues.

When it comes to buying or selling a home, passing clear title is incredibly important. In fact, relying on a title search is critical. Most title insurance companies will also perform a judgment search on both the sellers as well as the buyers. This will check for any court cases filed against each party as well as any liens associated with the real estate property being passed. If there are any open matters that need to be resolved swiftly, the title insurance company will typically add requirements to the commitment. As a result, once the required documents are provided, the title insurance company can then clear the title making it passable from seller to buyer. However, without title insurance, you could end up paying a fortune for this type of service. Here is everything that is ultimately covered when you conduct a title search that is comprehensive!

Tax Liens

In certain cases, the real estate taxes might be late or simply somehow delinquent. In fact, this is quite common. As a result, if this happens, the delinquent taxes need to be paid during the closing. That means the seller can either pay these fees before the actual closing but, typically the title insurance company will be asked to pay the fees out of the profits going to the seller. The payoff statement is then obtained by the title insurance company and then subsequently added to the settlement statement. This then allows the title to be clear for the buyer.

Mechanics Liens

Other types of liens that are an issue are any liens associated with a contractor who end up doing any kinds of repairs or improvements to the property itself. In fact, these contractors have a period of time in which they can file a lien. As a result, homeowners might not know they have a lien until the title search reveals it. This is why it is important to conduct a title search to gather this information prior to settlement.


A Title Insurance Company You Can Trust: Colony Title Associates

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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