HomeLight

JANUARY 5, 2022

Having pre-approval can save you from the frustration of going through a home inspection and appraisal processes only to discover your friend can’t get a mortgage (though, pre-approval is not a guarantee to lend, and financing can still fall through). Source: (GaudiLab / Shutterstock). Do: Plan for the buyer’s home inspection and appraisal.

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HomeLight

MAY 28, 2021

However, it’s vital to do your due diligence before buying a home as-is to protect yourself or you might just end up wasting your investment on a money pit. However, for regular buyers looking to secure a home loan for their as-is purchase, there are a few lending requirements to consider. Conduct a title search.

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Realty Biz

OCTOBER 26, 2022

Realtors have access to the multiple listing service and can do a search for these specific kinds of homes. Quite often the government or lending institutions will take over property throughout the United States due to violation of Federal laws. It is a type of property that requires more due diligence than others.

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HomeLight

OCTOBER 29, 2020

That’s why financed offers come with appraisal contingencies — the loan can’t clear until the home has been appraised and the lender knows they’re not lending you too much for the home. Review the detailed settlement document provided by the closing attorney and you’ll see a line item for a property title search.

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Marco Santarelli

AUGUST 16, 2024

Explore financing options: Research mortgages, hard money loans, and private lending options. Due diligence is paramount: Thorough inspections and title searches are essential to uncover potential liens or hidden issues. However, proper research and due diligence can mitigate these risks.

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HomeLight

MAY 27, 2021

Step 9: Do your due diligence. Title search. A title search is a process to confirm the current owner has a clear title to the property and is thus eligible to sell it. A specialist will comb through documents related to the property to make sure there are no issues with the title.

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Redfin

MARCH 3, 2022

It’s used to determine how much you can borrow and assures the lender that they aren’t lending more than what the home is worth. Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear. Make sure the title company is ordering lien letters and ask to see them before closing.

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HomeLight

JULY 26, 2022

If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home. Order a title search from a reputable title company and open escrow.

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HomeLight

JULY 29, 2022

That likely went right to your lender, so ask to get a copy from either them or directly from the title company. There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says. We do all the due diligence upfront,” he says.

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The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

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