Showing posts with label Title Report. Show all posts
Showing posts with label Title Report. Show all posts

Monday, February 23, 2009

The $35,000 mistake - Why you should review your title report.

You hire a broker to represent you in the sale of your house, and eventually you get an offer you can live with. The buyers are ready, willing and able to close the deal. Sounds great, right?

Well, not if your driveway encroaches on the neighbor's property and you can't deliver clear marketable title to your buyer. A Mississippi court recently ruled that the seller owed more than $35,000 to their listing broker because the seller was unable to perform even though the broker bought them a ready, willing and able buyer.

This is an example of why we recommend eliminating surprises by ordering your preliminary title report upfront.