The housing market is hot right now, and there’s no question about that! Sellers are listing their homes, and buyers, eagerly searching after listing their own home, are engaging in bidding wars trying to secure the right home to raise their family in. Before you can purchase, however, it is essential to look out for these common obstacles with the help of a reputable title agency!
Sometimes there can be confusion when a seller lists their home for sale about whether they have the legal right to do so. In some cases, the seller isn’t the home’s legal owner. This can happen for various reasons, but you may miss out if you don’t discover this obstacle when reviewing the title.
Unpaid Taxes or Mortgages
Before the home can legally change hands, the taxes and mortgage of the previous owner must all be paid to ensure a smooth transition of the title. In most cases, the seller will not even realize that they have unpaid taxes or may have mistakenly thought their mortgage was covered. Once these debts are settled, the title agency can help you complete the transaction.
Finally, there may be a lease on the home when you want to purchase the property. While this is not common, it can still happen in certain situations.
With the help of an experienced title agency like Southern Title of Ohio, we can help you navigate the closing process to make the transaction as smooth as possible. We’ll find and help you overcome these obstacles before they interfere with your buying process! With four conveniently placed locations near Wooster, Sandusky, Galion, and Mansfield, we’re always around the corner, ready to help!