If I did not understand clearly before what a title company is supposed to do and how important their job is to what we do as Realtors and Lenders..............I do now!
If I did not appreciate the hard working title company , that I deal with enough, before today, I do now!
In an earlier blog I have wrote, I talk about running title before you list to be sure you are not hit with any surprises..............
Well I am sitting and waiting for 2 closings, where I rep the buyer, and the listing agent on one did not do this and YES there was a surprise and the other we knew there were issues going in.
One of my pending deals have a neighboring property line that goes into my buyers "new" home's living room. This home was sold this way at the last sale and the title company at the time let it fly! Well I guess we can say the lender at that time had no problem with it at that time as well.
Unbelievable what we find on title work these days..............that go back with a historty of "issues" that either fell between the cracks or professionals not taking care of business.
So buyers when you look at that charge on your closing statement for insured title work and wish you did not have to pay this bill, think again.................
Your choice of title company and the job they do is very important!
Michelle, this is such an important issue. If you don't have clear title to a property, you don't have clear ownership either. It's too bad that an earlier transaction ignored the issue you mentioned in your post, but thankfully you're working to correct it.