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Title Red Flags can delay and or sabotage your Escrow!

Posted on Oct 5, 2013 by in Active Rain | 0 comments

 

Title Red Flags can delay  and/or sabotage your Escrow

 

As most of you who have read my blog post regularly notice that over the years I have written often about the importance of having Title Insurance. Title Insurance will insure that no one will knock on your door later stating claim to the property you just bought and if they do you have recourse.

 

Now I am sure you have often heard that “red flags” mean we need to focus and pay attention. Well in the Title & Escrow World Red Flags mean a situation that needs to be cleared up before escrow can close.

red flags by Endre Barath Los Angeles Realtor

So when you  receive your Preliminary Title Report not only you as the buyer, the seller and the respective agents need to focus on the “red flags” , but the good news is so does your Title Officer and your Escrow Officer will review. They will review the Preliminary Title Report as well and now with everyone reviewing it carefully it gives you added protection.

 

Now if you are the seller and the listing agent, when you hear life changing situations these are indications of “red flags” you need to address to make sure it will not prevent or delay a closing.

 

For your convenience I will list a few of the Red Flags:

 

<IRS liens

 

<Family trusts

 

<Business trusts

 

<Foreclosures

 

<Probates

 

<Transfers or loans involving partnerships

 

<Encroachments or off-record easements

 

These are important Red Flags, they are not an all inclusive list, but enough for you to pause and check out see if all the documentations are in order.

 

If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com        I am a Pet Friendly Realtor and I contribute a portion of my commissions to local animal rescue organizations.

 

 

 

 

 

 

 

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