Title Reports are Important

February 5, 2013
One of the important steps in any purchase of a piece of real property is the obtaining of a Preliminary Title Report. The next very important step is to read the report. I suspect that often buyers receive a copy of the title report and file it away without reading it carefully. (Regrettfully, sometimes agents do not read it carefully, either.)
This report will list the owner - make sure the name matches that of the seller.
This report will list recorded liens against the property - property taxes, mortgages, and any judgement liens
This report will list easements - usually utility easements but good be others
This report will have an Assessor's map attached with a mark on the subject property - it should be on the property that is in that escrow. Be especially careful of condo units to be sure that the mark is on the unit you are buying.
This report will also refer to any other documents that may be recorded - Conditions, covenants and restrictions. It is important to request copies of these documents as these Ccrs could affect you use fo the property.
Any questions about this title report should be asked of the agent. The agent can then go to the title officer for any clarifications needed.