Buying a Hom Step 14: Title 101: Understanding what a title report means to your home.

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When purchasing a home, a title report is a crucial document that outlines the legal history of the property. Here are some common items found on a title report:

  1. Ownership history: This section lists all the previous owners of the property, including the current owner.

  2. Liens and encumbrances: This section identifies any outstanding debts or claims against the property, such as mortgages, judgments, or tax liens.

  3. Easements: This section details any easements or rights-of-way that exist on the property, such as utility access or shared driveways.

  4. Property restrictions: This section identifies any deed restrictions, covenants, or zoning ordinances that may impact the use of the property.

  5. Waterfront-specific items: For waterfront homes, the title report may include information on riparian rights, flood zones, and wetlands permits.

  6. Well and septic tank-specific items: For homes with well and septic systems, the title report may include information on permits, inspections, and compliance with local regulations.

Here's a checklist of things to look for when reviewing a title report:

  • Check the ownership history for any gaps or irregularities.

  • Review any liens or encumbrances to ensure they will be resolved at closing.

  • Evaluate any easements or property restrictions to ensure they won't impact your intended use of the property.

  • For waterfront homes, review any special regulations or permits required for waterfront properties.

  • For homes with well and septic systems, review any permits or inspections required and ensure compliance with local regulations.

Overall, a title report is an essential part of the home-buying process that provides important information about the property's legal history. Be sure to review it thoroughly and consult with a real estate professional and title representative if you have any questions or concerns.

Are you ready to begin the home-buying process? Whether your timeline is 3 weeks, 3 months, or 3 years, our team is here to help you every step of the way! Get started now by filling out our Ready To Buy Survey, and our team will reach out to schedule a call to discuss how we can support you on this path. 

Terra Wright Knudsen- Bainbridge Island Realtor