This was passed on from our title company with things to look for in a Preliminary Title Report.
What to look for in a Preliminary Title Report
Items to Pay Close Attention to…
- Is the address on the Report the address of the property now in contract?
- Is the use code of the property correct? i.e. Single Family Residence, 2-4 Units, etc…
- Are the vested owners of the property on the Report the individuals that have executed the contract and if one of the parties is deceased have you informed escrow?
- Has the seller reviewed the Report to verify that the loans shown on the property, are in fact, still due and payable?
- Is Title requesting completion of a Statement of Identity for one of the parties and are you aware as to what this is?