The housing market is hot right now, there’s no question about that! Sellers are listing their homes and buyers, eagerly searching after listing their own home, are engaging in bidding wars trying to secure the proper home to raise their family in. Before you are able to purchase, however, it is important to look out for these common obstacles with the help of a reputable title agency!
Sometimes there can be confusion when a seller lists their home for sale about whether they have the legal right to do so. In some cases, the seller actually isn’t the legal owner of the home. This can happen for a variety of reasons, but it means you may miss out if you don’t discover this obstacle first when reviewing the title.
Unpaid Taxes or Mortgages
Before the home can legally change hands, the taxes and mortgage of the previous owner must all be paid in order to ensure a smooth transition of the title. In most cases, the seller will not even realize that they have unpaid taxes or may have mistakenly thought their mortgage was covered for. Once these debts are settled, the title agency can help you complete the transaction.
Finally, it is possible that there is a lease on the home at the time you want to purchase the property. While this is not as common, it can still happen in certain situations.
With the help of an experienced title agency like Southern Title of Ohio, we can help you navigate the closing process to make the transaction as smooth as possible. We’ll find and help you overcome these obstacles, before they interfere with your buying process! With four, conveniently placed locations near Wooster, Sandusky, Galion, and Mansfield, we're always around the corner ready to help!