Title Search Company

Sally Said:

What would happen if a title company did not due a thorough title search and there was a serious problem?

We Answered:

if you bought title insurance, they repay you up to the purchase price, less the mortgage amount (see below).

however, most folk in America don't buy title insurance for themselves, they only buy it for the lender. [It is required in order to get the loan.]

in that case, the loan is paid off and the owner is [let's not say that, ok?]

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The way modern title companies work is they get a summary [usually the listing is enough] of every document recorded every day. Then their computers list the relevant property information from the ones concerning property [address, tax id number, or whatever is used] and they maintain a massive database of all of it.

Once their base of data is pretty good, the ongoing operation keeps it up to date as of all filings thru last night. It's pretty safe.


oh. :

Wade Said:

Are there any real estate experts out there? I need help with dealing with a Title Search company.?

We Answered:

The city should have known better. Never use that agent again, they are a duff-us.

They are not responsible to pay. This is property tax, above your state property tax, that stays in your community.

The title company does not pay any portion of this. You pay the property taxes, never the title company, it is not really involved.

Kathryn Said:

What is a title search company's responsibility ?

We Answered:

Title Company is responsible.

June Said:

will asking a title company to perform a title search cost me anything?

We Answered:

MOST LIKELY YES - BUT YOU MIGHT BE ABLE TO DO IT ONLINE THUR THE COUNTY'S ASSESOR PAGE. IF YOU NEED MORE THAN THE LEGAL OWNER INFO THEN JUST CALL TO SEE HOW MUCH IT WOULD COST YOU.

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