If you’re in the process of buying real estate, a title report will be invaluable to your decision whether to proceed with a transaction or not. Don’t commit to a purchase without it. Here’s what you should know.

4 Title Report Queries Answered

What is it?

Title reports contain vital legal information about a property offered for sale. They stipulate boundaries, areas others have a legal right to share, storage allocations, and parking spots. It also includes data about property taxes.

Why is it important?

Walking through a home isn’t sufficient for making a home-buying decision. For example, you may find a history of liens placed on the property in a title report and documentation regarding easements that may influence your decision. The document will also outline any restrictions on use.

How do you obtain one?

Some people may choose to obtain the information in a title report directly from the courthouse where the property is located. However, such reports can be challenging to interpret. The smart move is to partner with a title service officer to obtain records for you. A title company will examine the report with you and advise whether a property can be insured as is or whether legal hurdles exist.

How should it be interpreted?

It’s helpful to have a real estate or title company agent review a report with you. Some information may be difficult to decipher without professional oversight. A title agent can help you make sense of problems a seller may be unable to resolve. For example, you may be concerned about an easement but ultimately find you can live with it.

Serving Hamilton County and surrounding Tennessee communities since 1987, the team at Chattanooga Title is proud to offer a full range of services to locals who are buying real estate. They’re committed to your satisfaction and will help you close transactions with confidence. Visit them online to find out more about their services, or call (423) 756-3057 to speak with a representative.