By Jeff Lender
You may already know that an owner’s title insurance policy can protect you from financial losses related to a range of title defects, including undiscovered liens and easements, previously unknown heirs, and more. But what if you’re preparing to sell your home? You may wonder whether you need to take additional steps to protect yourself during the sale process.
While sellers typically don’t purchase new owner’s title insurance policies, there are still essential steps you can take to protect yourself and ensure a smooth transaction. Partnering with a reputable title company can help identify and resolve potential title issues and facilitate the closing process. Here’s how:
When selling your home, your goal is likely to maximize the proceeds to put toward your next real estate purchase. However, title defects can threaten those profits if left unresolved.
As part of the buyer’s due diligence, their mortgage lender will require a title search. If any title defects—such as undiscovered liens or ownership disputes—are found during the search, they will need to be addressed before the sale can move forward. Resolving these issues can lead to unexpected expenses or give buyers leverage to negotiate a lower sale price.
By identifying and resolving potential title defects early, you can protect your profits and avoid delays in the transaction process.
Title searches aren’t just for buyers. Sellers can also benefit from a preliminary title search before putting their property on the market. This process provides a clear understanding of the property’s marketability and reveals any issues—like unpaid liens or boundary disputes—that could complicate a future sale.
By addressing these issues proactively, you can present a clean title to potential buyers, increasing their confidence in the transaction and helping the sale proceed smoothly.
Selling a home involves many moving parts, and the closing process can be overwhelming, especially if you’re simultaneously buying another property. A title company can help manage this process and ensure everything is handled correctly.
From holding funds and documents in escrow to validating contracts, managing paperwork, and ensuring compliance with local laws, a title company plays a vital role in making your transaction as seamless as possible. Working with an experienced title agent can save you time and provide peace of mind throughout the process.
If you purchased an owner’s title insurance policy when you originally bought your home, that policy has already provided protection during your ownership. While you won’t need to purchase a new policy to sell your home, it’s important to ensure that any outstanding title defects are resolved. Your existing policy may give you peace of mind, knowing you’ve been protected against certain risks during your time as an owner.
Selling your home is a significant transaction, and having the right professionals on your side can make all the difference. A trusted title company can provide invaluable support, from conducting title searches to facilitating the closing process. Whether you’re selling a residential property or handling a complex commercial transaction, World Wide Land Transfer is here to help.
World Wide Land Transfer is a service-oriented title company with offices in Philadelphia, New York, New Jersey, Texas, Florida and Washington, D.C. With a record of going above and beyond, we’re trusted to close everything from complex commercial transactions to residential refinance and purchase transactions.
Contact our team today to learn more about title services for sellers or to discuss any questions you have about the title process in Pennsylvania or across the country.
World Wide Land Transfer is a service-oriented PA title company with offices in Philadelphia, New York, New Jersey, Texas, Florida, and Washington, D.C. With a record of going above and beyond, we are trusted to close everything from complex commercial transactions to residential refinance and purchase transactions.
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