we buy the house, is the title company responsible for any liens they may not have uncovered? Can this come back to bite us? And, do you recomend having 2 title companies work on clearing our foreclosure..just to be safe?
To Minimize their Liability Most Title Companies/ Real Estate Attorneys use Tax & Lien Search companies for every closing, One of the most reputable company used by most closings agents is Skyline Lien Search they are currently handleling masive foreclosures for mayor REO Law Firms.
This is becoming more and more a frequent occurrence due to current environment, where so many previous home owners went into default, and left with violations or unpaid bills. However, you do not have to be a victim, or worry about these potential unrecorded liens, such as code, utilities, waste, and municipal liens -if your title company is also using a professional lien search company. Most reputable companies are using one, so check to be sure. They should be using one in conjunction with the title search if you are in a lien superior state. A good company currently performing this service is Property Debt Research in Florida.
I would assume that you have title insurance that was part of your closing costs. Ask the attorney at the title company for a professional opinion if you have doubts.
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