Free and clear is what we all strive for, right? Clear skin, conscious, roadways and, definitely, the title to anything you own.
Once you have a property under contract, the title company that you choose to handle your closing will do a title search as a part of the process. This title search will tell us the history of the property to ensure legal ownership. It will also tell us if the property has any liens or encumbrances associated with it.
Most of the time the title company and your real estate agent can help work through any issues that arise to ensure clear title can be conveyed.
One way the title could be clouded might be the presence of a “lien” on the property. This could mean that the seller was unable to make payments of some kind, and the government or institution has placed a lien on the property. These liens must be paid off before a seller receives any proceeds from the sale.
An unclear title isn’t the end of the world, but it is a serious situation that would need to be addressed swiftly. Navigating the ups and downs a real estate transaction is what I do best! Call me today if you are ready to buy or sell!