Imagine jumping through all the hurdles to sell your home in Fort Worth, including paying for repairs, preparing the property, organizing open houses, and so forth, just to get blocked on closing day. This nightmare scenario is the unfortunate reality for many home sellers.
Pesky yet common title problems can bring the escrow process to a screeching halt, delaying and even cancelling the property sale altogether. These often show up as obscure details that never presented themselves during your time as a homeowner. We’ve listed four of the most common title problems home sellers encounter, so you can make sure you’re in the clear before closing day. Because ultimately, preventing possible issues ahead of time is a whole lot easier than doing damage control after an unwanted surprise pops up.
1. Divorcee Decrees
You may think you’re done dealing with an ex-spouse after a divorce is finalized, but that’s not always the case. If you lost partial ownership of your home when your property was divided, you naturally won’t have the right to sell it alone, as it’s not fully yours. You’ll need to get full ownership or include your previous partner in the sale in order to move it forward.
2. Outstanding Liens
Liens are unresolved payments that take a stake in your property as a form of insurance.
Not all will affect your right to sell. Property liens, for example, are put in place in case you stop paying your mortgage, and will only deduct the amount due from the total sale price. However, mechanic liens (caused by unpaid fees to contractors) and tax liens (due to unpaid taxes) are fairly common title problems that will inhibit you from selling the house in Dallas until they are paid off in full.
3. Boundary Disputes
Encroachments, also known as boundary disputes, occur when another owner builds something on a piece of your land. Not only is this likely to scare away a buyer, but it can take a long time and possible court interference to resolve.
4. Wrong Legal Descriptions
Likely completely unbeknownst to property owners, incorrect legal descriptions can still prolong a title transfer by a few weeks. All homes have a legal description in the court system, and any slight detail mishap, like the square footage number, can cause a problem for homeowners trying to sell.
What’s the Best Way to Handle Title Problems?
As you can see, some common title problems are challenging to understand or discover until it’s too late. To best prepare yourself for a title transfer, consider the following:
Hiring a Title Agent
As if selling a home doesn’t cost enough, it’s best to consider hiring a professional who knows how to navigate the legal system and confront any underlying issues.
Calling United Home Offer
If you already know of one or more common title problems you’ll face on closing day or don’t want to take the risk finding out, don’t despair- there’s a third option that doesn’t involve losing your buyer or paying off agents and/or unresolved fees. At United Home Offer, we’ll buy your home regardless of the title issue, and take care of it for you. We promise a fair and fast cash offer, so don’t hesitate to reach out for your free offer today.