Highlands NC Real Estate, Importance of Clear Title
The importance of a clear title is evident when buying and selling Highlands NC real estate. A title is part of every real estate transaction, providing proof of ownership. Issues with a title can muddy the waters and perhaps even disrupt the sale of a home. A clean and clear title is essential for the transfer of ownership. A Highlands NC REALTOR will answer all of your questions about the title process and ensure that the process can run more smoothly.
Understand what a title represents
The title equates to ownership. When a car is sold a title is filled out proving ownership. The same process takes place when a Highlands NC property exchanges ownership. Furthermore, a home cannot be bought and/or sold without a title. A title company will conduct a thorough search of the title history associated with a Highlands NC home for sale to ensure that there are no issues that will interfere with the sale.
What issues can arise during a title search?
While many title searches are a breeze, others come up with issues. While not every issue is a big deal every issue should be cleared up prior to closing. One issue would be uncovering a lien or liens against a property. A lien could be small or large. Common liens are related to unpaid utilities, unpaid loans leveraged against the home, or a mechanic’s lien. Another common item that appears during a title record search is a Covenant of Record (COR). The COR is most often a recorded easement, perhaps allowing part of a home’s driveway on a neighboring parcel or vice versa. A COR will follow every sale of a Highlands NC property unless it is legally changed.
Learn more about Highlands NC real estate
Contact me, Lynn Kimball, today to learn more about buying and selling Highlands NC homes. I welcome the opportunity to update you on the market while answering all of your questions. Let my knowledge and experience serve as your guide to Highlands NC real estate.