David Saks: Real Estate Practice : Lesson 3722

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 3722

25

When you put together a plan to purchase real estate, especially for investment purposes, you might be looking for a bargain because of title problems which include:

1. Federal, state or local tax liens 


2. Mechanics Liens for work done on the property


3. Missing heirs with claims on the property


4. Boundary or survey problems


5. Other claims to ownership of the property

Before a loan can be made, however, these "title clouds" have to be corrected.
The costs associated with correcting these problems could get pretty hefty.

The title company can really be of some help here.

Chime in with your thoughts.




David Saks



Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.

 

Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.

 

 

 

 

"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


 

  Real Estate Crimes

 

Click "HERE" For Today's Question

 

 

TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis

WUMR

 

Support
America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 6 commentsDavid Saks • September 29 2014 08:05AM

Comments

As a former title professional, I ALWAYS tell my clients to use the services of a reputable title company. Always. No exceptions. 

Posted by Kristin Hunteman, Escrow Closing Officer (True Title Company) over 5 years ago

Most definitely important to check the title...If you can the earlier the better or do much research through your real estate agent. Sometimes it's easy to find some information for free like on the St. Louis County website. It offers for a few dollars access to some recordings and title work is a must for any purchase or for some sellers that may not be aware of what liens could exist from prior work they've had done.

Posted by Tamara Liggins, Bringing Buyers & Sellers to Homes! (Keller Williams Realty, Saint Louis Call Me today at 314.677.6104) over 5 years ago

Good idea, Kristin. Thanks.

Posted by David Saks ((retired)) over 5 years ago

Good advice, Tamara. Thanks.

Posted by David Saks ((retired)) over 5 years ago

David, Through the years we have experienced some unusual title problems but the most common has been with marital status or lack of marital status written into the deed and when we go to sell the property we find the deed doesn't specify unmarried or married and this seems like a simple fix but isn't always quick and simple which is why we do advance searches when we list the home so that we can head this sort of thing off before the home goes under contract with a buyer..

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 5 years ago

Thanks for the note, Sam.

Posted by David Saks ((retired)) over 5 years ago

This blog does not allow anonymous comments