Here’s what I got
Title…What is it?
A title company will review what is recorded against a property all together, and find out what needs to get done to transfer the title of the property to the new buyer.
Note: A deed on the other hand is a single document that records ownership interest and is sent to the county to record. Multiple deeds can be on title. Think of it like title being a resume’ and a deed being each job on a resume’.
On top of ownership- other things like easements, liens, and encumbrances are on title of a property too.
These are things like loans on/against the house, a property taxes lien, mechanics lien, public road access across your lot, the neighbor having the right to build a driveway across the lot to gain access to their house etc…
Why does it matter?
This matters because to purchase/sell a property the title company will first have to make sure you have “clear title “and be able to get title insurance on the property.
That means making sure all loans against the house are cleared (with the purchase), the owner is the rightful owner of the property, and then making sure that you are aware of all other things that are recorded on title (easements, encumbrances, etc..).
Then title insurance can go through, which is needed for a purchase.
On top of that– Reviewing title will also show you if there are any deed restrictions against the property.
This is huge as an investor.
You need to know if you are aloud to split lots, do additions to the property, or maybe even tear down and rebuild something entirely different.
This is why you need a solid title company who can walk you through the process and make sure you are taken care of.
Here’s what to do next:
For a quick 2-min overview click the video below.
To find title reps (the title company representative):
- Go to Real Estate meet ups in your town (meetup.com)
- Ask realtors
- Ask other investors
- Ask lenders
- Join the Better Tomorrow Group
Also keep in mind that a title rep can get you a list of leads to reach out too.
That’s it for today…
And remember to learn how to make BIG money flipping houses CLICK HERE
Chris M Cordova
CFO Better Tomorrow Group
Chris is an active investor, Realtor, Broker, marketer, serial entrepreneur, and co-founder of Better Tomorrow Group. Follow Better Tomorrow Group on Instagram@bettertomorrowgroup on Twitter/Periscope @TheBTgroup and Facebook at Better Tomorrow Group. If you would like FREE MEMBERSHIP to Better Tomorrow Group CLICK HERE.