#title search in Bethlehem and Easton

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Need To Conduct a Real Estate Title Search in Bethlehem and Easton, PA

Investing in property is an oft-done task across the nation. While many US citizens may harbor the dream of owning their first home, others may want to resale the existing property. Sure, real estate transactions are complicated processes that must be done meticulously to ensure the legal rights of all concerned parties.  Conducting a thorough title search in Bethlehem and Easton, PA, is essential to ensure the property transaction closes perfectly. Trying to do it without the required knowledge and expertise will likely be ineffective. It makes sense to hire a legal professional or a title company to get it done flawlessly.

Sure, many people are confused about this aspect and question its need. It is interesting to note that a title search involves checking the public records for accurate information about the ownership of the said property. The records may include uncovering the facts by reviewing existing mortgages, deeds, judgments, tax liens, easements, and any other documents that may affect the property’s title. Moreover, the history of all transactions resulting in a change of ownership by inheritance, sale, or transfer can provide a clear line of the title.

While it is not necessary to do anything once a professional takes on the onus of doing a title search, the prospective buyer/seller may be interested in understanding the process as well.

Title Search Process

Knowing that the procedure is done by ensuring the following steps:

1. Placing a request to a title company or a real estate attorney

2. The professional will examine all relevant public records, including but not limited to the county courthouse records, tax assessor’s office records, and other official databases

3. The search may also involve reviewing surveys, maps, and other documents related to the property

4. Generation of a title report or abstract of title that summarizes the findings

5. The report is handed over to the seller/buyer for review

Reasons for conducting a title search

There are varied reasons for requesting a title search, and the following are deemed necessary:

· Necessary to protect the interests of both the buyer and the lender to ensure real estate transactions

· All potential problems with the property’s title are discovered early in the process

· The investor gets to avoid hugely expensive legal disputes by receiving a report of clear ownership of the property

· Lenders find the title searches to be important to assess the risk of financing the purchase

· The lenders may request the investor to buy title insurance as a prerequisite for getting the loan

The importance of title searches cannot be overestimated as they serve as a critical step in facilitating smooth, error-free,  and secure property transactions

The concerned title company may go a step further and handle all associated services on behalf of their client, thus ensuring proper settlement services in Allentown and Lehigh Valley, PA, followed by the successful closing of the transaction.

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Why Property Title Search in Easton and Bethlehem Pennysylvania is Important

A home is usually the biggest investment in one’s life. A homeowner would invest in a number of insurance plans such as homeowner’s insurance, flood insurance, etc. to protect his investment. However, one type of insurance plan that not many homeowners think about is title insurance. A title policy in Bethlehem and Reading PA is designed to protect homeowners against hidden title hazards. In order to have complete ownership of a property, the title needs to be transferred from the past owner to the current owner. If there had been errors during past title transfers, the current homeowner may have to take the blow. By investing in title insurance, a homeowner can ensure the title of the property is clear of liens and encumbrances such as unpaid property taxes, sewer easements, etc.

When a homeowner invests in title insurance, the title insurance company would perform property title search in Easton and Bethlehem PA and resolve any issues associated with the title of the property. Therefore, the homeowner can live in peace. Unlike other insurance policies, title insurance requires a one-time fee, which is paid at the closing. Without title insurance, the homeowner may have to spend hundreds and thousands of dollars to resolve issues associated with the title of the property. So it is important that every homeowner invests in title insurance no matter what kind of property he/she invests in.

However, one needs to work with the right title insurance company to ensure the best results. Therefore, one needs to consider the following factors when choosing a title insurance company.

What to look for in a title insurance company

Choosing the right title insurance company can make a lot of difference. While most title insurance companies are state regulated, not all offer the same level of customer service. Therefore, finding the right title insurance company that suits ones personal needs is very important. Here are some factors that need to be considered to ensure the best outcomes:

Reputation

One needs to find a company that has immense experience in the field of title search and insurance and has been able to live up to the expectations of its clients. One’s friends and acquaintances will be able to provide them with a list of reputed title search companies with whom they have worked recently. Fix interviews with each of them and determine which company makes you feel comfortable.

Services Provided

Consider what type of services is offered by the companies that you are considering to work with. Talk about the specific requirements and check whether the company offers appropriate solutions. Also check whether the company would be able to provide legal assistance, if required.

Fees

Look for companies that offer title services at competitive rates. However, this should not be the only criterion to decide which company to work with. Remember, you get what you pay for; so make an informed decision.

Investing in title insurance is a must for every homeowner. So, plan accordingly and protect your investment from all possible risks.

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Traditional Abstract, LLC is a leading title search and examination company with over 20 years of experience in the industry. Our team of professionals is dedicated to providing accurate and efficient title services to our clients.

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Traditional Abstract is an experienced title insurance company in Allentown, PA, offering title searches, escrow services, and other real estate title services for over 30 years.

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Need For a Property Title Search in Bethlehem and Easton, PA

Being the owner of a tangible asset such as a home or office can result in profitability in the future. The ROI tends to increase when the property is maintained perfectly as well. It is vital to authenticate the ownership of the home that is being listed for sale. Investing in it can become legal only after the ownership is transferred and accepted by the authorities. This necessitates a title search in Bethlehem and Easton, PA.

The term may be a trifle confusing for many people. One is satisfied to learn that title refers to the possession of the said property and is free to use it as deemed fit. However, the title may be held in diverse ways. It might be held jointly by a group or family members. Some titles also include the right of survivorship. This is important for titles held jointly. A survivor may claim ownership after the death of a joint owner. A third aspect that one needs to be aware of is the possibility of the mortgage firm or a government organization's claim. Dismissing such claims is only possible via a title search.

 It is interesting to know that titles are not always clearly defined and may throw various issues for the intended buyer. Finding the title by searching the records is a long exercise that requires skills and attention to detail. While the prospective buyer or the existing seller may go about the process singlehandedly, hiring a title company may be the best way to claim ownership. Some of the common reasons to request a professional title search are:-

· Verification- Ensuring the ownership is the most crucial reason to have a title search done. While it may be easy to find the records of a new property, trying to find old records of ownership before computerization can be difficult but not impossible.

· Clear Title- An ownership that has been established accurately is known as a clear title. Unfortunately, most titles reveal issues that may consist of existing liens, multiple claimants, encumbrances, etc. The prospective investor must insist on resolving such problems well before the transaction process. This ensures a clear title and no legal problems remaining behind.

· Debts- Unpaid taxes and/or pending debts can result in legal complications for the new owner. An effort must be made to solve such issues so that the title is not embroiled in financial problems that may allow claiming the property. All mortgages, taxes, and other debts associated with the property must be paid in full to ensure a clear title that is fit to be sold

· Easement & Restrictions- The buyer may be able to make an informed decision about going ahead with the investments once the easements & restrictions for the use of the property come to light via the title search.

The title company provides a range of real estate services known collectively as settlement services in Bethlehem and Allentown, PA. It includes title search, escrow services, and providing the required title insurance.

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Need To Buy Title Policy In Bethlehem and Lehigh Valley, Pa

Investing in property is considered to be a huge step. Indeed, ordinary citizens may purchase only one land or property during their lifetime. It is a relatively complex process involving a lot of time and money. The lending organization may impose some terms & conditions in addition. Ownership can be claimed only when the property title changes hands, with the new owner's name being added to the title document. Such a process can be handled by an attorney or a title company that takes on the onus on behalf of their client. Buying an insurance plan known as a title policy in Bethlehem and Lehigh Valley, PA, is necessary to ensure one's ownership too. The new owner cannot grudge this need and decide to avoid buying the insurance. It is essential to know that the buyer, along with the lender, will be protected from financial losses resulting from title defects. While it is necessary to investigate the existing title thoroughly well in advance of buying the property, there may be multiple defects that go unnoticed. Title insurance can help one to mitigate such risks. ​ The new owner may seem pleased that the cost of the property has been paid in full courtesy of the bank or any other lender. Unfortunately, there may be violations noted in the title after it changes hands. The most devastating scenario is the presence of a legal heir who had been in the dark when the property was sold. It is scary to think about the outcome in such circumstances. Having title insurance can reduce the burden considerably. Title Insurance Types There are two distinct types of title insurance policies that one can purchase. Both policies benefit diverse participants after the real estate transaction related to a property is completed. It is essential to differentiate between the two before buying them. Lender's Insurance Policy The lender, a bank or an NBFC entity, almost always requires the borrower to provide them with an insurance policy when requesting a home loan. The title company will issue the policy to protect the finances of the lender in the event of a defect cropping up in the title at a later date. This policy only covers the lender, with the borrower unable to claim coverage. The buyer cannot avoid spending money on this policy, though. It is a requirement that needs to be honored. Owner's Title Insurance Policy This optional insurance policy offers the same coverage as the lender's policy and is meant for the property owner. An individual is not compelled to buy it, but it is advisable to obtain protection for the title that can be at risk for the following reasons: · Ownership disputes · Outstanding liens, lawsuits, or encumbrances · Errors in the public records · Forgery · Undisclosed easements Property transaction is a complex matter that requires validation of ownership. The first step to purchasing a home is to conduct a thorough title deed search in Easton and Nazareth, PA. This can be undertaken by hiring a title company or a legal professional. Individuals can do it single-handedly as well.

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Need For Title Deed Search in Bethlehem and Easton, PA

Living the American Dream is not easy. Millions splurge to own a home despite financial hardships. After securing the desired loan and signing the documents, one can move into the house. Wait! An important aspect is missed in this regard. It is essential to conduct a thorough title deed search in Bethlehem and Easton, PA, to ensure that the said property had indeed been free to invest in. ​ The document stating the ownership of a property is known as the title. It is necessary to search for the record to ensure that the title is free from all defects. The new owner may be inconvenienced when a stranger claims the property afterward. The common practice is hiring a title company or attorney or doing the search singlehandedly by reviewing all previous records related to the concerned property. Often enough, it is the lender who insists on a clear title to avoid financial loss after the ownership changes hands. The buyer must make sure to do it with or without the lender insisting on it. It certainly helps to be informed about the need and procedure. What is a title? When an individual(s) gets the title, it means that a specific document exists endorsing the ownership of the property. The title provides the legal rights to the owner to use the property as deemed fit. The title may be given to a group or tenants and tenants in common apart from a single individual. They are known as joint title holders. Moreover, the mortgage owner may be a party to the title and claim rights on the property when the mortgage amount is not paid according to the terms. The government may also have liens on the said property for nonpayment of taxes. Such issues usually come to light when a title search is conducted. Information Obtained Via Title Search The results of a title search will make the prospective buyer aware of the legal restrictions on the title and the rights of other parties to use the property in certain situations. Pending taxes and mortgage payments are also revealed by such a search which may have the new investor reconsider the purchase. It is interesting to learn that any of the following may become apparent once the existing title deed is recovered from the records:- · Boundary disputes · Existing liens · Disputed wills · Additional claimants/heirs · Mechanic's liens · Utility easements · Errors during the filing of documents · Divorce decree settlements that result in disputes · Bankruptcy · False documentation or forgery of property documents A title search can be of varied types. A current owner search is usually conducted when buying a foreclosed property or investing in it via tax sale. A full title search becomes essential when the funding is provided by a bank of NBFC. A combination of all title-related services conducted by a reputed title company is known as settlement services in Allentown and Nazareth, PA, and all across the nation. It includes title search, escrow, and closing services.

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Traditional Abstract, LLC is a trusted and reliable title insurance and settlement service provider in Allentown and Nazareth, PA. We are committed to continuing our services throughout Allentown, Bethlehem, Easton, Lehigh Valley, Nazareth, and surrounding areas.

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Details of Settlement Services in Nazareth and Allentown, PA

Real estate dealings seem highly complex, with numerous things to consider accurately. Admittedly, a single individual cannot get the hang of things choosing instead to communicate with a seasoned professional or company for settlement services in Nazareth and Allentown, PA. The term itself is a trifle confusing, as a layperson would be unable to grasp its meaning fully.

No worries! One may always turn to a title company to get the answers and proceed thereafter. It is interesting to know that when an individual desires to buy real estate, the title company steps in to shoulder its entire responsibility. It is the said company that will ensure a proper title search and have the results handy before providing the required title insurance to satisfy the lender. One may buy the homeowner’s title insurance in addition to protecting the property and retaining the ownership despite challenges that may arise at a future date.

The title company would coordinate with other related professionals, namely the real estate agent, property lawyer, taxation expert, and the lender’s representative if required. A date will be scheduled with the consent of all others for closing the transaction and transferring ownership of the concerned property. It is alternatively known as the settlement date.

The buyer is expected to sign all relevant documents in the presence of the aforementioned representatives to ensure the transfer of ownership from the seller to the buyer. The documents are sure to include mortgage papers, tax documents, and homeowner’s insurance. There are several legal necessities to be considered as well. The transfer of stamps is usually necessary but will depend upon the concerned jurisdiction. The buyer would also have to pay the property taxes to separate the ownership as well as pay other related fees either singly or together with the seller as per the legal necessity.

Financial experts will calculate the actual figures according to the state and local laws applicable to the property transaction. The title company will also be responsible for overseeing the deposition of loan funds, paying the existing mortgages, and other legal commitments between the lender and the new property owner honored. The corresponding papers are prepared meticulously and transmitted as per the law.

This is not all, though! The title company will make sure to have the newly drawn-up property deed and information about the mortgage duly filed and recorded in the county or local recorder’s office. This ensures that all information related to the concerned property will be retained in the public records and revealed during future title searches.

The title company will further prepare and hand over the closing or settlement statement to all the concerned parties. The disposition and the closing costs are thus conveyed to all applicable parties who sign the document as a mark of concurrence.

Settlement or closing is the last stage of property ownership transfer. The process begins with a title deed search in Bethlehem and Easton, PA, that an experienced title company best handles.

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Necessity of a Title Search in BethlehemaAnd Allentown, PA

It is the dream of every American to own a home that can secure the family and the following generations in time. Simply checking the listings in the properties for sale list or hiring a realtor is not enough. The market has opened up with many banks and financial institutions willing to provide home loans at present. Most people have to get adequate financing to afford a home. There is a long list of terms & conditions to comply with to ensure a mortgage on the chosen property. One of the conditions is related to a title search in Bethlehem and Allentown, PA.

Unfortunately, many first-time property buyers fail to understand the significance of having the search done and buying suitable title insurance. Therefore, a prospective homebuyer must be aware of the following well in advance so that the related rules & regulations do not come as a shock.

Conducting a Title Search

Any liens on the said property will be apparent once a thorough search of the property title is conducted by going through the records. There is much more information revealed at the end of such a search. The outcome of the search will reveal the status of the seller by establishing the right to sell the home. The restrictions on the existing property are revealed as well. One would thus be aware of the existing easements, public access agreements, covenants, and homeowner’s association regulations when applicable. Any unpaid taxes or mortgage amounts would have to be paid by the seller before the property can be sold. The buyer would be satisfied to gain a clear and marketable title once the title does not reveal any issues that cannot be corrected.

Accuracy

There is no hard and fast rule for hiring a professional to conduct a title search. A layperson can do it, as most records are available in public domains. Unfortunately, very old records cannot accede as they would not be computerized. It thus makes sense to engage a title company that is sure to have the required resources to unearth the details related to the concerned property.

Correction of Defects

· Not every title is clear! The buyer should not be concerned about it. The title company can assist in this process, as will a third party, known as the due diligence partner. The following will be ensured to make the property marketable.

· Repayment of the mortgage by the seller

· Clearing all unpaid liens against the property before it changes hands

· Release of judgments, liens, and pending equity loans that are recorded in the title

Title Insurance

The title company will also provide the title insurance that is a must-buy for the buyer as the lender requires. The information that is not revealed by the title search may surface in the future and cause trouble for the new owner. The insurance protects the risks of the lender. The buyer may get a homeowner’s policy to protect the owner’s interests too.

The same company may also double up as the escrow company in Easton and Nazareth, PA, and hold the funds until the closing.

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Escrow Service in Bethlehem and Allentown, PA

Worried about closing delays? Traditional Abstract in Allentown, PA offers experienced title search and escrow services for a stress-free real estate experience.

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Looking to buy in the Lehigh Valley? Traditional Abstract offers comprehensive real estate services in Allentown, Bethlehem, Easton, and beyond. We handle title searches, escrow, and insurance to protect buyers and lenders throughout your transaction. Contact us for a smooth and secure experience!

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Traditional Abstract, LLC is a dedicated team of professionals that provides comprehensive title insurance, property title search, escrow service, and real estate title in Allentown, Bethlehem, Easton, Lehigh Valley, Nazareth, PA, and surrounding areas.

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Traditional Abstract, LLC is a reputable and well-known company specializing in title insurance, property title search, escrow service, and real estate title in Allentown, Bethlehem, Easton, Lehigh Valley, Nazareth, PA, and surrounding areas.

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Traditional Abstract, LLC has provided title insurance for residential, commercial, and refinancing transactions since 1991. Call 610-740-9100 for more details on the title deed search in Bethlehem and Easton, PA.

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Role of an Abstract Title Company in Bethlehem and Easton, PA

The desire to purchase property is nothing new. Indeed, people have been investing in properties since time immemorial. Buying a home or a plot of land is not as simple as purchasing a product at a retail store. It may be essential to contact a reputed realtor to discover the right property. Handing the required sum may require the assistance of a lender, preferably a bank or financial institution. The said institution will insist on title insurance to safeguard the amount. This can be done effectively by hiring a seasoned abstract title company in Bethlehem and Easton, PA. ​ Every property is sure to have an associated title deed that clarifies the legality of the existing owner. Why would the prospective buyer need additional support by insisting on a property abstract too? All the concerned parties should make an extra effort to know the significance of the title and its abstract. It suffices to learn that the abstract is a written property title record. It will refer to all legal matters related to the title by summarizing the facts that help the buyer and seller to be satisfied that the property can go through the legal transaction procedure in the future. It makes sense to request a copy of the abstract before proceeding with such a transaction when the possibility of another property claimant is bright. Inclusions in the Abstract The entire list of legal documents related to the said property is included in the abstract. An old property is likely to have multiple pages included in the abstract, but it is the onus of the prospective buyer to go through it and check the documents that matter. The documents will be listed chronologically, making it easier to look for a specific document(s). The first inclination of the interested buyer would be o request the original deed of grant and view it to ensure that there is no illegality involved. This document includes the grantor's name and the grantee's location, and the legal description is detailed. Thus, one can understand the existing ownership, the number of years of owning it, the sum paid as a mortgage loan, and the total taxation amount. This document is also referred to as the chain of title that highlights the name of each owner by tracing the history of ownership changes since it was constructed. Title Search & Abstract Both the title search report and the abstract title reveal the ownership status by tracing the property's history. The title search will only display the last 40 years of possession, whereas the abstract title will trace the entire record to the time when the plot of land was bought or cleared by the government for construction. Hiring an experienced company to handle a property title search in Nazareth and Bethlehem, PA, is essential. The buyer will have the ownership authenticated by the search and would be able to buy the title insurance from the same company to satisfy the lenders at the same time.