Downtown San Diego Condos: What is A Title Policy and Who Cares?

When you purchase a property the seller provides you a title policy, which means he/she/it can transfer the property to you without you having a lot of baggage on the title.  You don't want any of the seller's loans or tax issues or back child payment issues, or anything not related to your purchase of the property.  In turn, your lender requires that you purchase a title policy for the lender's benefit so none of the above items attach to the lender. 

There is a process in the title policy search.  For those of you who love to do your own research, read this article about how the title policy search proceeds.  You may be surprised at all of the behind scenes activities that are going on during the escrow process. 

We have included this article Life of A Title Search for your review and education.  It doesn't matter where you purchase.  You can be buying a condo in Downtown San Diego, or a single-family home in Santee.  Purchasing can become confusing very  quickly and buyers often want clarification regarding title policies.   If the seller cannot provide clear title or you cannot accept clear title, the lender will not provide funds to close the sale.  There are some odd things that can occur in a transaction, and over my 33+ years in this business I am seeing odder and odder things happen.

This is a series of articles by Sharyn and Victoria Crown, Downtown San Diego real estate agents specialzing in Downtown San Diego condos.  Visit us on  our San Diego Crowns Real Estate  Facebook page.  Text SDCROWN to 87778 to search properties on your mobile phone