If a title issue is discovered as part of the closing preparation, then you cannot sell the home. Title issues must be fully resolved before a house can be sold, and they account for a small but significant number of closing issues for many home sellers.
It’s very important to learn how to resolve title issues before selling your SC home. An early title search is the best way to avoid any unpleasant surprises during the selling process. If you do so, you won’t have any unexpected problems or delays at closing.
5 Common Title Issues In A Home
Identifying title issues is the first step towards resolving them. Here are a few common SC title issues you need to resolve.
1. Liens
A lien is created when your home serves as security for an obligation or debt. The most common lien is a mortgage, but liens can also result from unpaid state taxes, unpaid bills, or unpaid contractor invoices. Your home may be foreclosed on if the lien is not paid.
2. Missing Heirs
Your home’s previous owner may have passed away before selling the home, and heirs may come forward to claim it. The heirs of the deceased may have been unidentified when they died but may be entitled to the property due to lineage or other documents.
3. Public Record Errors
Clerical or filing errors may seem minor, but they can take a long time to fix. When you conduct your title search early on in the selling process, you have time to fix these issues.
4. Survey And Boundary Disputes
Defining the property’s boundaries clearly is essential before selling your home. There may be a need for a survey if there is a dispute. The new owner of your home should know where the property line is located.
Resolving The Title Issues In Your Home
In the event that your due diligence reveals a title issue, you must address it before selling the property. There are some minor issues that can wait until closing, but others, such as name identity issues or human errors, require planning and time. Documentation is required to prove that your claim to the home is accurate.
You don’t have to know how to resolve title issues alone. Start by hiring a real estate attorney who can help find and resolve these title issues for you.
It’s crucial that you notify your agent of any possible title issues as soon as you become aware of them if you have already begun the home selling process and you have an agent working with you. Then, take charge of the event and see which title issues can be resolved right away. Some of the title issues involved contacting the lender and paying off the lien. Other issues are more complicated and may involve going through the legal process.
Selling Your House Fast With Title Issues
But what if you don’t have the money to pay for a professional to search and handle all the title issues for you? The good news is, selling your house fast is still possible, even with those title issues.
If you’re in such bind, then consider selling to a cash homebuying company. This type of company buys houses in any condition, even if they are in need of serious repair or maintenance. Some cash homebuyers are also willing to buy a home even if it has title issues.
All you have to do is call the company and give them information about your house, including its title issues. Sometimes, they might need to visit your house. But after they’ve gathered enough information, they will make a cash offer, which you can accept at your chosen schedule. Once you’ve accepted the cash offer, then they can close in a matter of days.
Get A Fair And Free Cash Offer On Your Home Today
Sell My House Fast – GSAP is a reputable homebuyer in upstate South Carolina that pays cash for houses. We make selling your property very simple. Our company eliminates the hassles, uncertainties, and costs of selling with an agent or on your own. If you’re interested in selling your home quickly, we can make you an offer within days or on your own schedule.
To learn more about us or to find out how much we can offer for your home, visit us at https://sellmyhousefastgsap.com/.
