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March 18, 2013

Buying or Selling a Home

Basics of Buying a Home

What is the title search?

Prior to the closing, your lender will arrange for a title insurance company to look for any "title exceptions" against the property, which may include:

  • easements that give utility companies the right to enter the property to service gas, electric or phone lines
  • right of access by neighbors
  • prohibitions against exterior remodeling
  • any liens or claims of ownership

Your attorney should review the report of the title insurance company to make sure that there are no complications. In most cases, you'll want to obtain title insurance.

>>Under the law, who does the buyer's real estate agent work for?
>>What is an offer?
>>How do I get a mortgage?
>>What is the title search?
>>What happens at the closing?

Practical Law Home | Buying or Selling a Home | *Basics of Buying a Home*
Basics of Selling a Home | Why Real Estate Is Covered By Special Laws | Real Estate Brokers
The Purchase Contract | Financing a Home Purchase | The Closing | The Fair Housing Act
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