In recent years, it has become unfortunate, but commonplace; to read about the incredible amount of foreclosed properties for sale. These properties have had an important impact upon the real estate market. Many of those who have avoided foreclosure themselves have been eager to buy a foreclosed home because of the low prices and availability.
There are risks to investing in a foreclosed property, so one of the most important steps in the process is the title search. When this is done accurately and thoroughly, it can inform the potential owner of the problems that could result from buying foreclosed property.
A proper title search has become vital to this investment. Learn more about why title search is the most important part of investing in such a property and read about the other risks.
Note: Explore our title search and real estate closing FAQs for additional information.
The real estate closing process doesn’t have to be a confusing or frustrating one. Having an experienced, helpful title search company on your side throughout this process can simplify it greatly. The following five steps need to be taken during a real estate closing:
- Submission of the Title Order
- Processing the File
- Title Search and Examination
- Document Preparation
- Settlement
In the September 23rd issue of the New Hampshire Business Review, “Thoughts on the N.H. Real Estate Market,” Dan Scanlon, JD, CCIM, states, “I can’t tell you how many times I’ve heard people say that since the bank has title insurance they don’t need it. This is misinformed. The policy that is provided to the lender at closing only insures the lender for the amount of the mortgage. The owner’s equity is not covered. And title issues might surface that don’t impact the lender but could seriously injure the owner. Buy it!”
Cathy & Fred Thompson
Welcome to Thompson Title – and our brand new website! At Thompson Title, we take the stress out of title services and real estate transactions. “Because Nice Matters,” we bring a calming, upbeat presence to the real estate closing process. A few things you should know about us is that we are extremely detail oriented, conscientious, and meticulous, you can rest easy knowing all the details are being covered. Explore our list of frequently asked questions. Better yet, gives us a call at 603-898-8815, email Fred Thompson or Cathy Thompson and let us know how we can help you!