What is a title search and who will perform the Title Search Services Arizona before buying a property?

Today, it is common that you would have heard about the term “Title Search Services” but, do you know the real purpose of a title search and why it is necessary to conduct a proper title search over the property that you are planning to purchase? If not, learn here what it is, what it is used for, why it is important to conduct before owning a property in Arizona, and who will perform title search services Arizona. You can discover everything about it here in the sections below. Then, what you are waiting for? Start exploring below!

What is a Title Search Service?

A title search is a search of property records to check whether there are any existing encumbrances available over the property that may affect, inhibit, or alter the exchange of a property title.

A property title offers the buyers the legal rights to use the property freely and ensures that they are belonging to the person who owns it.

Why it is important to conduct a title search?

While searching for a property title, it is must to ensure that both the current owner and the seller own all the rights that come with property ownership. On the whole, title search services Arizona is done to confirm that the seller can transfer the ownership of the property legally. When it comes to the home buying process, obviously a title search is one of the first and foremost steps that a buyer initiates.

This is essential because when you are approaching the mortgage lenders to get the loan, they will require you to obtain a title insurance policy to approve the loan. Mortgage lenders will do this process to give protection against all the encumbrances, liens, judgments, and hindrances existing on a property title which may break the chain of title resulting in a cloud on the title or title defect invalidating the property sale.

What a title search service would comprise?

Through the inculcation of the mortgage title search services, buyers can get to an appropriate decision on a property deal and the title search services would comprise:

Ordering the title report

Organizing the transfer of legal rights of the property ownership

Analyzing the financial implication of a loan

Obtaining the mortgage policies if they are required

Who performs title search services Arizona?

A title search would usually be performed by a real estate attorney or a title company who was working on behalf of the prospective buyer or mortgage lender. In general, most of the due diligence involved in the process of title search services would fall on the title abstractor who may work either independently or for the title company. A title abstractor will search through the property and land records to verify the property ownership thereby preparing the leases ad resolving the disputes.

These professionals will contact all the lenders, real estate agents, and other legal parties to gather all the information that is required for a proper title search. Through this search, all the countless documents including deeds, contracts, and other recorded papers will be examined and entailed to confirm whether the property owner is free from all the defects like outstanding liens and zoning violations.

Though it can be performed on your own thus saving your money, it is always recommended to hire a title search service company in Arizona as there are some detailed and complicated processes involved in the title search. Hiring such companies would help individuals get benefitted from expert assistance.

Final Thoughts

Hope that you would have learned what a title search is, why it is important, and who will perform the title search services in Arizona. And yes, it is always important to perform the title search services as this is a perfect inspection method that can be performed on all the financial responsibilities including the property in the deal. Conducting this search would save both of you from all the problems that would affect the legal ownership of the property in the nearest future. If you want to streamline your mortgage title search services Arizona, hire SKPTS to get the dedicated title services.

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