Highlands NC Real Estate, What is a Title?
Highlands NC real estate transactions involve many terms and many terms bring up questions, one example is “what is a title?” Throughout the process, buyers will learn a lot. From crafting a list of properties to getting under contract, and keeping on top of every step until the closing table, an experienced REALTOR will serve as an invaluable guide. Get to know the ins and outs of the buying process, including what a title for a Highlands NC property is.
Title is important
A clean and clear title matters when buying a Highlands NC home for sale. Much like the automobile, a title proves the ownership of a property. As such, a title check will be a part of the due diligence period once a property is under contract. Ultimately the title checking process protects a buyer, ensuring that clear ownership is possible. In short, a clean title is necessary to transfer ownership from the seller to the buyer.
The title is absolutely necessary to sell a home. As such, no title means no sale. Issues that interfere with title work can often be cleared up but some take more time than others to clarify. Common issues with a title check include liens and/or a covenant of record (COR). A lien is often tied to work that has been completed on a Highlands NC property where the contractor was not paid for the work. This could also be related to unpaid utilities or loans as well. A COR is a recorded attachment to a property, most often an easement or agreement related to encroachment or agreed-upon use like a driveway cutting into a property.
Learn more about buying a Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about buying and selling Highlands NC homes. We welcome the opportunity to update you on the market while answering all of your questions. Let our knowledge and experience serve as your guide to Highlands NC real estate.