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Old 11-23-2011, 09:02 PM
 
2 posts, read 3,765 times
Reputation: 10

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Hi,

It's me again. another questions, it's for title inspection.

Do I have to do the title inspection? on our home purchase contract, seller agreeed to guarantee the clear of title already, then do I have to do the title inspection? what the title inspection for?

Thanks

gigi
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Old 11-23-2011, 09:30 PM
 
10,222 posts, read 19,208,157 times
Reputation: 10894
Nobody's going to loan you any money without the title search.
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Old 11-23-2011, 09:35 PM
 
Location: New Jersey
2,257 posts, read 5,187,812 times
Reputation: 1877
You may not care for a clear title (though you should!) but your bank will. Unless you are buying fully cash down, you will not be able to buy without going through title check.
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Old 11-23-2011, 10:04 PM
 
Location: GA
2,791 posts, read 10,808,379 times
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How will you know if the title is clear without a title search?
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Old 11-24-2011, 09:11 AM
 
342 posts, read 717,020 times
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Yes you need a title search. I had an experience many years ago where the bank did a title search and the title was clear. Luckily, they recheck it shortly before closing. In this case, the owner had taken out a loan shortly before closing using the house (that would no longer be his in 48 hours) as collateral!

So yes, get a title search done.
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Old 11-24-2011, 08:42 PM
 
10,181 posts, read 10,257,364 times
Reputation: 9252
Quote:
Originally Posted by gigi_shuk View Post
Hi,

It's me again. another questions, it's for title inspection.

Do I have to do the title inspection? on our home purchase contract, seller agreeed to guarantee the clear of title already, then do I have to do the title inspection? what the title inspection for?

Thanks

gigi

But the seller can't give you title insurance, which is what you want to protect yourself and the property you are purchasing. Because you never know...just like the poster who said a seller took out a loan against his house just days before the closing was to take place.
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