Title search
A search of public records conducted by a title company to confirm a property’s owner and to find out what claims are on the property
Before you close on your home, a title company will search public records on the property’s ownership. The title company wants to make sure that the seller is the actual owner of the property and that the property is free from any claims, such as liens for unpaid taxes and mortgages. Once the search is finished, you’ll receive a preliminary title report.
Point out any title issues to the seller – some problems are simple to clear, others may take so long that you’re in jeopardy of losing your loan commitment. The title company will do a second search directly before closing to make sure no problems have cropped up.