Purchasing Guide - Title Search

While your loan is being underwritten between the lender and escrow, you will be required to order and pay for a title search on the property before closing can occur.  The title search verifies that the property you are buying is free and clear of any liens or outside ownership.  

If the title search comes up with any issues, such as unknown claim to the property, the seller will have to remedy the situation as soon as they can, or your deal may fall through.  If this did happen, you would get your earnest money back as it would not be your responsibility.  

Once the title is free and clear, the buyer will have to pay for title insurance for the lender.  This usually costs around $500.  The seller is expected to pay for the title insurance for the buyer and costs about three or four hundred dollars more.