Finding a property to purchase for residential or investment purposes is exciting, but before you sign on the dotted line, don’t forget to do your due diligence.
Understanding Title Abstracting
Before you purchase a property, you need to understand its history and ensure that it has a clear title. Real estate title abstracting is the process whereby you will ensure that there are no liens or other legal claims against the property for which you as the new owner will be liable.
A real estate title abstract is a chronological summary of the historical legal documentation associated with a property or asset. It typically begins with the initial grant deed and includes all subsequent changes in ownership, including any additional claims, liens, litigations, restrictions, easements, encroachments, or other encumbrances associated with the property.
What Does a Title Abstractor Do?
Your real estate title abstractor researches the property’s history, adds any newly discovered relevant information, and certifies that the resulting title abstract is accurate, true, and complete.
Best Practices for Efficient Title Abstracting
Choosing a service with an excellent reputation for meticulously researching, verifying, and certifying all information included in the abstract throughout the history of the property is crucial.
The best real estate title abstractors will:
- Gather all information and documents relevant to the property, including historical records and public documents, survey maps and legal descriptions, to flag any outstanding mortgages, taxes, and/or homeowners’ association dues, uncover issues with property deeds, and any identify encumbrances, conveyances, and easements related to the property that pose impediments to a clear title.
- Utilize state-of-the-art technology tools, including online databases and resources and specialized real estate title abstracting software, to trace the chain of title and identify any discrepancies.
- Communicate effectively with clients and stakeholders to clarify any concerns, and collaborate with colleagues and experts, throughout the process.
- Ensure accuracy by verifying information through multiple sources.
- Attend workshops and seminars to enhance skills and stay updated with changing laws and regulations relevant to real estate abstracting services in Maryland.
You Deserve Top-Tier Services
Real Estate Title Services provides full title searches and limited title searches for agricultural, commercial, industrial, residential subdivision, easement, estate work, as well as all other land-related search inquiries throughout Montgomery County, Frederick County, Carroll County, Howard County, and Washington County Maryland.
For more than 40 years, the real estate industry has relied on us for title abstracting and recording services tailored to meet their clients’ specific needs. Located in Frederick, MD and independently operated, we’re well known for our in-depth research capabilities and attention to detail often missing in the services of Big Box Abstractors.
Contact Real Estate Title Services for more information.
