What is a Property Title Search?
A property title search is the process of gathering documents that show who has the legal right to own the property in question and, through that ownership, to sell it. While it may seem simple and obvious that the home seller is the owner, there may be hidden claims or liens on the property by other parties that the seller and buyer may be completely unaware of. To avoid any last minute surprises and guarantee that the buyer becomes the sole owner of the property, a property title search is critical to ensuring any property transaction goes smoothly for all parties.
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How Much Does a Property Title Search Cost in NJ?
Property title searches do not have a set cost because there are factors that will affect the complexity of the search and the results. They can cost a few hundred dollars on the low end but can become more expensive depending on whether it is a residential property or a commercial property. Also, the county where the property is located will be a factor in the cost.
Who Pays for the Property Title Search?
The party that pays for a title search is not necessarily set in stone. The buyer of a home traditionally pays for a search, but if your housing market is in particularly bad shape, you might be able to convince the seller to pay up for a search themselves. Most will be reluctant to do so, but depending on your circumstances, you just might be able to save a few hundred dollars by negotiating a property title search into the sale agreement. In general your lender will only require that a new title search be conducted on property, and they will rarely be adamant about who must conduct it.
Experts in New Jersey Property Title Search Services
At Scott Title, we have been conducting rigorous, thorough and accurate New Jersey property title searches for more than 20 years. Our experienced title search agents take care to ensure all the necessary information and correct documentation is accounted for in each title search we handle. From our office in Shrewsbury, our team has managed title searches for clients in Monmouth, Ocean, and Middlesex counties, and throughout the rest of New Jersey, simplifying what would be an overwhelming process for our clients and dealing with potential problems before they can cause serious issues. Our in-depth research sets us apart from others in our industry.