Owning a home is a significant achievement and a major life milestone. The priceless feeling of having a place where you can live, work, and sleep peacefully with your loved ones is something that makes the idea of owning a home a cherished dream for many. While the process of buying a new home is a deeply gratifying and rewarding experience, a lot can happen that can quickly turn this experience into a sour one. Title issues are one such hazard that can make your home buying process in Parkland FL troublesome and problematic.
As much as you dislike it, the property title is something that you need to pay special attention to. Every property has a history. And it’s important to trace the ownership history and other details before buying a property. However, unless you are a real estate maestro, understanding the property title may prove to be a complex task. Therefore, your best option would be to avail the services of a title company in Parkland FL that can make title transfer easy and stress-free.
Let’s take a look at some of the common title issues that a Parkland Florida title company can resolve:
If there is any outstanding debt that has not been paid by the seller or any of the previous owners, it can result in lien being placed on your newly-purchased property by banks or financial institutions. In most cases, it’s the unpaid bills that lead to such a situation. It must be noted that if you purchase a property with a lien on it, it is you who is responsible for the outstanding debt and not the seller. When a lien is placed on a property, the property owner cannot sell it until the debt is paid.
Errors in Public Records
Errors can never be ruled out, even if something is written and well-documented. Some information might be missing in the property deed. There can be a clerical or typographical error such as an incorrect name or inaccurate consideration amount. Any mistake on the recorded deed can be troublesome for the home buyer. Therefore, it is important to avoid any negligence and verify everything before a sale deed is completed. The services offered by a title company in Parkland FL can prove to be very beneficial in this regard.
In movies, the scenes that depict a character forging documents to steal the rights of a legal owner are fairly common. Well, it happens in real life too. A white-collar crime such as a forgery, though uncommon, can destroy a large chunk of your life’s savings and also cause a lot of mental and emotional trauma. One of the easiest ways to avoid being in such a situation is to opt for title insurance provided by title companies.
An easement is the right of a person to use the real estate of another person for a specific purpose. Due to an unknown easement, you may not be able to access the surrounding area of your property exclusively. You can be prohibited from building something on it. As a result, you may not be able to enjoy your home the way you want to.
Even if a boundary survey is conducted before buying a property, boundary disputes cannot be completely ruled out. Your new neighbor may claim ownership of a part of your property. And things can turn real bad if you try to build something on the disputed portion of your property.
Whether you’re planning to buy a new home or a commercial space, it is important to safeguard yourself and your financial investment. Any of the above-mentioned title issues could jeopardize your investment and put you in a worrisome situation. Fortunately, there are reliable title companies in Parkland FL that can keep you safe by taking care of your home buying process. Call Expert Title on 954-570-5959 for all your title service needs.