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Trulia Miami, Home Buyer in Miami, FL

Why do I need a title report?

Asked by Trulia Miami, Miami, FL Mon Nov 5, 2012

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BEST ANSWER
If you are asking if you need a Title Policy.....YES! It is your insurance policy that protects you from prior liens or claims on the property. Real Estate will most likely be the biggest investment in your life.
Be wise and protect your asset. The risk is just not worth it. You don't want to inherit a prior owners debt or violations. If you are applying for a loan, the lender will require it.

Hope this helps.

Alice Kellogg
0 votes Thank Flag Link Wed Nov 7, 2012
The title work protects the buyer from having any legal complications with ownership to the property they are about to purchase. All buyers want free and clear title,but it is possible that there could still be unresolved issue attached to the chain of title,which then could cause the buyer complications in teh future. Title work will identify any issues before the purchase is complete.
2 votes Thank Flag Link Wed Nov 28, 2012
Presumably because you do not like to throw money away.
2 votes Thank Flag Link Mon Nov 5, 2012
to ensure the title you get to property is clear, marketable & insurable without liens, violations, fines etc
1 vote Thank Flag Link Mon Nov 5, 2012
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