The Insiders discuss the “Prelim”, and help explain how this valuable report describes potential liens and judgments which are tied to the property, as well as which property rights are included, and which rights may have been given away throughout the ownership chain.
- Always read the Preliminary Title Report!
- Make sure you understand each item that appears on the report. If there is anything you do not understand, make sure you talk to someone, a realtor, title company, escrow company, etc., until you are comfortable with the explanation or resolution.
- Resolve issues; As for liens and other potential issues of concern on the report, make sure they are all sufficiently addressed, and they can be resolved prior to closing. This will ensure that you, as the buyer will get clean title and keys to your new home.
Download: Sample Prelim Title Report