The time has come! You finally found the perfect house, and your offer was accepted. Now the waiting game begins. Home buyers are sometimes unsure or confused about what happens during the closing process. Things like a home inspection are a little more straightforward since the buyer is often present for the inspection process. They can understand the wait associated with completing the inspection and the importance of having a solid house. Home appraisals are also easy to understand. Buyers, and their financial lenders, want to know they are getting a home worth their investment.

The title search process requires research and sometimes additional time.  It’s also done without someone ever seeing the home. This can cause buyers to become frustrated by not knowing what is happening. Their Omaha title company has gotten the information about the house, but what are they doing with it? Here is a bit about what your title company focuses on while researching your new home’s title.

Why do I need to Complete a Title Search?

To begin understanding the process of a title search, it’s a good idea to know why it is happening. Each portion of real estate has a title associated with it. This title passes down through the years and transfers in and out of many hands. In most cases, this is done correctly, with all the correct paperwork being filed. However, there are occurrences that this does not happen. The title is your proof that you own the property. If someone did not transfer the property properly over the past years or had a lien against it, you could find yourself not really owning what you paid for. This is why your title company completes a detailed search for you.

How does the Title Company Obtain the History?

You may hear the term “Abstractor” throughout the closing process. This is sometimes a title given to a person who completes the research for properties. This person is a staff member of your Omaha title company and is often licensed in the state where they work. Their role is to scour public records looking for any information about your new property. They will trace the documents and pull together all the relevant facts. These facts will include any transfers of ownership, liens that were applied to the property, past-due taxes, and any other glitch that could cause you problems in the future. The person doing the research is like having a detective on a case. They look for all the facts and put them together so you can feel confident that your new home will be yours and only yours.

What if Something is Wrong?

A title search is completed to ensure that you have a clean title. If something should show up during the research process, like a previous lien or a long-lost relative claiming ownership, the seller must make things right before closing. While this could hold up your closing on the home, it is necessary for you to have done.

Could There be Problems in the Future?

When a title company completes its research, they define everything they have found. The documents are all pulled together from public records, and there will be a chronological listing of the events that occurred. However, what if there was an unknown heir or a mistake in a historical document? Your interest in the property could be at risk. This is why some new homeowners choose to purchase Title Insurance. This type of insurance protects you if something like that should occur.

How Long Will This Process Take?

As you can imagine, digging through old public records is something that takes time to be done. Since the right to ownership is on the line, you likely don’t want it to be rushed anyway. Luckily, most states have these records online, so the Abstractor does not need to get themselves down to the courthouse and sift through paper records. Although this happens occasionally, and if necessary, the title search process will take a bit longer. This process may only take a few hours of research for newer homes, but for older homes could take several weeks of document review.

Now that you know a bit more about the process, waiting for it to be completed may not be so bad. Yes, you want to get into your new home quickly and settle, but this process is crucial. Waiting for a few extra days or weeks will assure you that your home is truly yours. Any hidden skeletons in the closet will be forced out, and you can sleep peacefully!

Choosing a title company with experts on their team will ensure your search is done effectively and efficiently.  Trustworthy Title has the team you need to get your title search completed. Contact them today to get started.