So, you want to buy a property? It is a good idea to consult a title company before you sign. You have found the right property and you have arranged the finance and everything seems in order. However, you need to dig deeper. There could be risks and threats you don’t know about. These could be in the form of hidden abstracts, counter claims and competing rights. You don’t want to get stuck in the middle of that swamp.
Advanced Abstract is a title company in Allentown PA, Bethlehem PA, Easton PA, Reading PA, Stroudsburg PA and they can check that there are no hidden abstracts and potential claims against your title.
Before you buy a property, you need to know the history. You don’t want to buy a property and then find out there are others who also claim title to your property or restrict your rights. These could be heirs, creditors, tenants and others. The last thing you want is to buy a property to occupy only to find out that some tenant has a 10-year lease and aint going nowhere. You don’t want to buy a property and then find out there was fraud or crucial mistakes were made – mistakes than can harm your title and result in financial losses.
A title company performs title and related searches. Think of it as a background check of your property. There may be secrets you don’t know about and you certainly don’t want to find out about them after the fact. A title company will check all past transactions and legal agreements related to your property. A title company can also arrange title insurance that will protect your financial interest should some unpleasant secret come to light.
They say what you don’t know can’t harm you. That may be true for emotional things but not for property titles and abstracts that can threaten your title. You do want to know about those, because if you don’t, they can and will harm you. Advanced