Why You Need To Read Your Title Commitment

The title process involves a lot of research on the property to be transferred, and a number of problems may come up after settlement if the title commitment has not been read thoroughly. For example, when a new owner realizes that they do/don’t have easements or right-of-ways, the dimensions of the lot were totally different from what they thought they bought, other entities had a claim to all or part of their lot and so on.

The title commitment has different schedules and parts which includes the following:

• Schedule A of the commitment details the parties involved in the sale – all the parties. If there are “misunderstandings” about who is actually selling the property, they will come out here.

• Schedule B of the title commitment details covenants and restrictions that apply to the property, from sources such as the development, associations, utilities and other entities including neighbors and who knows who else.

• Schedule C of the commitment has the infamous “legal description” that nobody tries to read. However, it’s not uncommon for buyers to read it and suddenly realize that the boundaries are nothing like they thought they were buying, or that the description is totally wrong or indecipherable (referencing rocks, trees, etc).

The Escrow period is the critical time for home buyers and agents to make sure the property they agreed to buy is indeed what is transferred on closing day and that there is no surprises.

At Boyer Law Firm we not only conduct a thorough title search but we make sure each and every document is read and that everything conforms to the requirements. If you have a closing and need a title commitment please contact us and we will be happy to help.

Leftover Sellers in your New Home?

Everyone fears sellers staying in your new purchased home after closing.

However, once you have closed, you lose whatever leverage you once had over the sellers. If the sellers decide not to leave after closing you may have some options such as eviction or suing them. It is always best to have the sellers hand over the keys or leave the premises before or upon closing.

June Fletcher of the Wall Street Journal advises that “if all goes well and the seller leaves on the agreed-on day, do another walk-through of the home, even if you already did one before you purchased the house. Flush the toilets, open the windows, turn on the appliances and make sure everything is in good working order. Check your contract to make sure that those things that it stipulated would stay, like chandeliers and window treatments are still there. If you do find something amiss, take photos to prove it.”

If sellers want to stay after closing, before you agree to allow the sellers to stay on, ask your insurance agent if your policy will cover the time period before you take possession. Should your house be damaged or burn down during that time, you need to be protected.

Contact Boyer Law Firm today if this issue sounds like your situation and the sellers have overstayed the agreed on date. Your attorney will be able to help you evict or sue them and protect you from unwanted expenses.
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