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Real Estate Fight Club

17
Jan 2022

Should You Do A Title Search Before You List A Property-EP 121

January 17, 2022

On this episode of the Real Estate Fight Club podcast, Jenn and Monica are going to duke it out over, “Should you do a preliminary title search before listing? Or do you think this title search should happen before we list a house?” Tune in for the details.

Episode Highlights:

  • Does title search fall on the seller, or does this fall on the listing agent?
  • As a seller or an agent, we have to make the house available to as many buyers as possible and ready to go, and knowing that it is saleable is the title search, says Jenn. For 18 years, Monica has been doing it, and only once has a title problem caused the sale not to happen.
  • The title company knows that all parties on board are ready to buy the house. We will only find a buyer, and that’s why we’re putting the house on the market, says Monica.
  • While one has had some title issues come up when you’re in the 11th hour of the deal, it is more likely that the seller will do what it takes to fix that thing because we’re right at the finish line, says Monica.
  • Amber says to Jenn that if she had asked her the question a month ago, she would have said no. 
  • Amber says that one of her clients once asked her, “Do you think we should do a title search on the house to make sure there’s nothing against this? And Amber replied that it was a good idea.
  • In Southern Ohio, it is common for the buyer to choose the title company, but in most of the other places, the seller is doing preliminary title searches, says Jenn.
  • Monica asks Amber, based on your experience, does it change your view on whether title searches should be done, or do you think they should be done under certain circumstances? What is your point of view?
  • Amber says that if the title is clear, this is one little piece of the puzzle that you don’t have to worry about, and it can be good marketing potential.

3 Key Points:

  1. Jenn says that it is essential to do a title search if you have a property with multiple owners, have been in foreclosure, or defaulted in some way. 
  2. Before listing a house, you need to get through the inspection to make sure all parties are still on board, and then you can do a quick title search, and you’re off to the finish line, suggests Monica.
  3. Tiebreaker, Amber Allred, joins the conversation, and she is going to tell the listeners whether sellers should do a preliminary title search before putting the house on the market or not.

Resources Mentioned:

 

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