Real Estate Title in Bethlehem, Reading, and surrounding areas

Do you live in and around Allentown PA, Bethlehem PA, Easton PA, Reading PA or Stroudsburg PA? And are you searching for a real estate title company? Yes? Well then, you are at the right place, because we, Advanced Abstract,…
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1031 Exchange in Easton, Reading, Stroudsburg and surrounding areas

Do you live anywhere in and around Allentown PA, Bethlehem PA, Easton PA, Reading PA or Stroudsburg PA, and are searching for a title insurance company? Then, you must have already heard about Advanced Abstract. Yes, we are one of…
http://www.advancedabstract.com/1031-exchange-in-easton-reading-stroudsburg-and-surrounding-areas/

Reasons To Check Property Abstracts In Stroudsburg And Easton PA

Deciding to buy a particular property whether it is a piece of land or a house, a farmland or a commercial property is not a wish that will be granted ASAP. There are a number of obligations to fulfill and investigations to conduct before an individual can proceed with the actual transaction of transferring the property in his/her name.

The seller and the concerned real estate agents are quick to point out that the concerned property is free of liabilities but such a statement cannot be taken at face value always. It is important to conduct a title deed search in Reading and Allentown PA as well as in other regions where the aspiring owner desires to purchase the property. There are no legal obligations to contact a professional for searching the property records though. However, hiring one is sure to ease the entire process and save precious time in the long run.

It is also important to uncover the abstracts in Stroudsburg and Easton PA in order to know the name of owner (s) before negotiating the price. The abstracts are documents that can also highlight the defects associated with a particular property. The flaws can be rectified at the earliest so that the concerned property can be sold off without complications. A property abstract is not always required though especially in the States that allow title insurance. The prospective owner does have to get flustered if there is no property abstract found either as a commitment or a title report would be suitable instead of the aforementioned abstract.

Importance of Title Deed

• Title Insurance – It is imperative to buy a title insurance coverage once an individual decides to go ahead with the transaction of property. The owner’s insurance for the title protects the individual as the coverage amount is equal to the price of the property. The policy protects the owner if there are any issues pertaining to the title that is discovered during a search. The insurance carrier is bound to offer all kinds of legal help and settle any claims that are considered to be valid.

• Claims – An investigation often reveals a number of problems that need to be resolved before the property can be handed over to the new owner. Failing to pay the property taxes and errors in the deed are two of the commonest instances of flaws found in the title deed. The property may be unclaimed or it may be claimed by multiple people who need to establish the validity of their claims legally before the property can be sold.

• Solutions – It is the onus of the seller to resolve all outstanding issues including clearance of the pending taxes and settling ownership squabbles with the other claimants before handing over all property documents along with the title deed to the buyer. It is important to contact a legal professional before signing any papers though especially when there is a restriction or condition associated with the use of the house.

The title deed needs to be stored safely for future use once the transaction is completed and the new owner takes possession of the property.