Title Report

Review the Title Report

No one ever reads their title report! You should, it shows what you are buying.  Twice in the last year I found discrepancies between title reports and purchase contracts. Both of these were foreclosures and the lender selling the property did not yet have title in their name.

If you think you’re buying 123 Easy Street but the deed and title report are for 321 Easy Street, that’s problem! Your name, the Seller’s name, address of the property and purchase price should all match on the purchase contract, title report and deed.  If they don’t something is wrong.

The title report is the first thing a processor orders when setting up the application file.  It is usually a first item to come back to the processor. You should have a copy to review prior to the closing.