Title defects that can hamper the sale of a home
The process of selling a home is cumbersome and lengthy. From repairing flaws, marketing the house, and staging for buyers to negotiating for a fair price, a lot needs to be done before the deal is closed. One of the factors that can unexpectedly delay or disrupt the closing for many home sellers is title issues. Aim High Properties, a cash buyer, discusses the common title issues that home sellers must watch out for and resolve in time.
- Liens
A lien is created when a property serves as security for an obligation or debt. Besides the most common lien, mortgage, liens can emerge from unpaid state taxes, unpaid bills, or unpaid contractor invoices. In the event of the lien not being paid, a home may be foreclosed. A lien is one such title issue that can delay or prevent the closing of a deal.
- Missing heirs or undiscovered will
The current home seller may have bought the home without knowing any rightful heirs of the previous owners. When these long-lost heirs come forward to claim the property that is entitled to them due to lineage or a will, the title is compromised.
- Public record errors
Any clerical or filing errors can be corrected in time by conducting the title search at the beginning of the selling process. Even a minor human error can take ages to fix and jeopardize the closing of a deal.
- Survey and boundary disputes
Sometimes the boundary between two properties may be blurry, making it a bone of contention. Therefore, a survey can be conducted to decide the property line. This boundary must be defined to ensure that a neighbor or a public entity does not claim part ownership of the property.
- Unknown easements
An easement gives rights to other parties to use someone else’s land for a specified purpose. This does not entail a financial crisis for the buyers, but it can make their home experience strained and limited. For instance, a buyer purchasing a home might not realize that the electric company has an easement to use the property’s driveway to access power lines.
If a title issue is revealed during an initial search, home sellers must address it at the earliest. The documentation must be accurate. Home sellers can seek help from their real estate agents to find and resolve title issues. Some issues may be resolved swiftly, while others require extensive planning, follow-up, and long-drawn legal processes. This may be time-consuming or require expenditure that the home seller is unable or unwilling to make.
With Aim High Properties, home sellers can quickly sell their house for quick cash even with the title issues. All they need to do is inform the team about the title issues.
Why Aim High Properties, LLC?
With its extensive knowledge of the business, the network of resources, and years of expertise, Aim High Properties has been helping homeowners with various real estate problems. Why should home sellers choose Aim High Properties?
- A one-on-one relationship with customers to handle their unique situations
- Ability to directly purchase homes and make cash offers
- Offers a speedy and hassle-free transaction
- Purchases property as well as sells homes directly to buyers
- No commission
Besides these advantages for home sellers, Aim High Properties offers wholesale property deals and investing opportunities for private money lenders. It also partners with agents to discover the best property deals in the area.
