The property title search is kind of like a background check that a person would have to undergo when applying for employment. Take a look at some of the things you will want to know about property title searches while buying a home. 

Why is the title search necessary?

The property title search can be done for many reasons, but in the home-buying process, the search is most often done to:

  • Look for liens against the property that may be outstanding 
  • Look for tax levies against the property due to unpaid property taxes
  • Look at the current boundaries and property lines to make sure they are correct
  • Look into how many times the property has changed ownership over the years

These searches yield a plethora of information that can be beneficial to the buyer of the home but also to the entity that is extending a home loan to pay for the property. 

Who does the title search during the home-buying process?

If you are in the process of buying a home, the company you are seeking lending through may require a title search before closing on the loan, so they may actually pay for the process. However, it is also not uncommon for the seller or the buyer to be responsible for the title search. Laws about who is responsible can vary by state, so check with the real estate agent you are working with to find out what you need to do. 

What are things that can delay a title search?

Some of the things that can make a title search take longer to complete include:

  • Improper information on a property deed 
  • A home's address changed at some point during its lifetime
  • The location did not keep good records of property transfers

There is little that can be done about these issues, so it is important to be patient with the title search company while they sort through any confusion about the property. 

How many years will a title search go back?

In most cases, a title search will go all the way back to the beginning of the home's years when it was initially built. Of course, there can be problems researching back that far if you are buying an especially old home because titles and property deeds were not as common a long time ago in some parts of the country, and there is a bigger chance of certain records being lost. 

For more information, reach out to a professional who provides real estate title search services. 

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