What to look for in a Preliminary Title Report

This was passed on from our title company with things to look for in a Preliminary Title Report.

 

-Steven Fong

  Realtor

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?