Does A Title Policy And A Survey Really Mean Anything

Dated: September 27 2017

Views: 4

Searching the title is what tells you the Texoma home buyer if the person selling you the property can really sell it to you.  This search gives alot of information about the property itself such as what we just mentioned who owns the property, the legal description, the taxation on the property ect. 

Whitesboro houses and homes for sale

 

Let's discuss the owner of the property and the chain of title. So what is a chain of title... this is the history of ownership itself. Who has owned the property and how was it transferred each time it sold?

Was there at any time a break in the line of title? If so the title search will show this. How does a break in title occur one might ask. If at anytime the property was sold without a title policy this could cause a break in title. Believe it or not there can  be a purchase of Real Property without a title policy. It is highly recommended that you only purchase a property that has a title policy that shows clear title when you purchase a Real Property. To do otherwise can cost way more than the title policy ever would. 

 

EXAMPLE .... of this 

We had a set of lots for sale .... the owner of the lots said to me the county said there is a structure on my property but I did not build anything on the lots. Hmm ok let's go and check on this and see what is going on. Well guess what happened someone built on the wrong lots. Yikes how could this have happened? This is how it happened, the buyer of the lots purchased the property without a title policy and without a survey they did not use a Realtor. The Real Property was purchased with a Bill of Sale. The title policy by itself would not have shown the location of the lots, but the survey would have. Needless to say a shop, driveway, water meter electric were all placed on someone elses property. 

Does a Title policy and a survey really mean anything? Yes it does make a difference.... 

This is what happened in this case. I went and knocked on the persons door and asked to speak to him concerning the lots they purchased. To their suprise they did in fact build on the wrong lots. The owner of the lots that were built on by mistake were very nice about it. They realized that a mistake was made and it was just that a mistake. They switched lots and they person that made the mistake was happy to do so. This could have been a mistake with much more cost involved than just switching lots.  The owner of the lots could very well have said, thank you for the buildings and all of the improvements. 

 

It all turned out in the end and the lots were switched and sold to another party. 

 

Please contact your local Realtor and please get a Title policy and a Survey. 

We are here to help you with all of your Real Estate needs. 

Start your home search today. Click here 

 

 Does a Title policy and a Survey really mean anything? 

Latest Blog Posts

55 Annual Whitesboro Peanut Festival October 16th 2021 Downtown Whitesboro TX

55Th Annual Whitesboro Peanut Festival Downtown Whitesboro TexasDate October 16th, 2021come on out and enjoy the event.This is sure to be a good time for allFun For the Entire Family* Over 200

Read More

Grayson County Market Report July 2021

Grayson County homes for sale 237 home on the market Check out what is on the market  >>>> https://myre.io/0M8uYcPzXGPu <<<<<<  July 2021 home sales for

Read More

Celebrate with us July 3rd 2021 Downtown Whitesboro TX

Welcome to downtown Whitesboro, please join us in celebrating the July 4th HolidayIndependence day is a federal holiday in our beautiful country of the United States of American. The Declaration of

Read More

How to sell your Texoma house: Tips for a smooth sale

How to sell your Texoma house: Tips for a smooth sale.Step 1: Decide how you're going to sell. Texoma HomeStep 2: Determine list price. This is how as a Texoma Realtor we can help you with

Read More