If an issue with your home’s title is discovered when preparing to sell, it can put a major hitch in your plans. Title issues can make it impossible to sell your home, so in order to move forward they need to be dealt with. Title issues must be fully settled before a home can be sold, and many closing issues are often caused by common title issues.
Even the most careful homeowners can be surprised by a title issue when it comes time to sell their home. It is entirely possible there are title issues that you are not aware of and that you were not made aware of during the initial home purchase.
Performing a thorough title search early in the process is the best way to protect yourself from these unwanted surprises. Waiting until right before closing will just result in frustrating problems and delays.
What Are The Most Common Title Issues?
Before we discuss what you can do to resolve title issues, we need to identify some of the most common ones that are found during a title search. While there are plenty of other problems that could arise, these are what make up a majority of title issues.
- Ownership by another party
- Incorrect signatures on documents, as well as forgery and fraud concerning title documents
- Defective recordation (flawed records or record-keeping)
- Restrictive covenants (terms that reduce value or enjoyment), such as unrecorded easements
- Encumbrances or judgments against property, such as outstanding lawsuits or liens
- Missing heirs
- Survey and boundary disputes
How to Resolve Common Title Issues
If you have uncovered title issues, you are likely already working with a title company. Title companies help uncover these problems, but can also guide you on how to resolve them in order to get back on course to sell your home. In some cases it may also be necessary to work with an experienced real estate attorney that specializes in dealing with title issues. It is also important to know that clearing a title will cost money on top of whatever it takes to hire an attorney. Ultimately, the costs will be worth clearing your title and being able to sell your home.
