Finding the ideal residential real estate property can be a difficult endeavor. Due to a competitive real estate market in most areas of Texas, simply finding a home that is suitable for your budget and within your desired area can take months or longer. Even after locating a home, you may find yourself in a bidding war with other potential buyers who are also making offers at the same time.
Once your offer is accepted, you look forward to the process ahead and the eventual closing, after which you can move into your new home. However, you may find it discouraging to learn that a title issue could stand between you and your real estate goals. Issues with residential real estate titles can be difficult to navigate, and you may be unsure of what steps to take to protect your interests, settle the issue and move forward.
Common reasons for title issues
A title issue can lead to various challenges as you attempt to finalize the process of a residential real estate transaction. Unresolved title issues may be a setback, adding to the time you have to wait to complete the purchase. Even something as small as a typo in the records can present a problem. Common title issues you may encounter include the following:
- Liens on the property due to the seller having unpaid taxes or debts
- Mistakes in the public record, such as typos, incorrect names or clerical error
- Illegal deeds, forgery or fraud committed by a previous owner of the property
- Unclear property boundaries or dispute over property lines
- Unknown or missing heirs to the property for sale
It takes an understanding of the law to know to properly identify and satisfactorily settle title issues. If you encounter a problem with the title on the property you are trying to purchase, there are steps you can take in order to resolve the problem as quickly as possible.
Saving you time and stress
Title issues are stressful, costly and often difficult to navigate. If you are facing these types of legal concerns, you will benefit from seeking experienced counsel as you pursue the most beneficial and effective resolution possible. An assessment of your case can help you understand more about your specific title concerns and how you can protect your rights and interests during the real estate purchase process.