Does A Title Policy And A Survey Really Mean Anything

Dated: September 27 2017

Views: 300

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

Do You Qualify For A Homestead Exemption Lets Talk Real Estate

Do You Qualify For A Homestead Exemption Lets Talk Real Estate We recorded this video last year, although it continues to apply each year to homeowners.When you are considering purchasing a house to

Read More

She Read It With A Kiss

SHE READ IT WITH A KISS BY Dan Eakin 1984Mary was a loving young girl, tender sweet, and kind;she never had a bitter thought, though she had been born blind. When she was just a little girl,

Read More

Not All Web Sites Give You Up To Date Information On Whitesboro Land For Sale

Not All Web Sites Give You Up To Date Information On Whitesboro Land For Sale  Premium access to Whitesboro Land for sale. Learn more about what is for sale. Be the first to gain Premium

Read More

Perception What Is It Really Interesting Thought Here So

Perception What Is It Really Interesting Thought Here SoGood day to all I just received an email in the header it said Perception what has changed? Interesting thought here so what has really

Read More