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Thread: What is a preliminary title report and how much attention should I pay to it?

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    Default What is a preliminary title report and how much attention should I pay to it?

    A preliminary title report is a document prepared on real property once an escrow is opened, but prior to closing. It provides all kinds of information about the property that is essential for a buyer to see, such as how title is currently held and what kind of exceptions to title are currently of record (for example, easements, liens and encumbrances). The preliminary title report then becomes the final title report, on which title insurance is based. In addition to specific exceptions to title that will be listed on a title report, it will also list standard exclusions from coverage.
    In virtually every real estate transaction, the buyer has the right to approve or object to the preliminary title report and back out of the deal unless the seller can provide clean title by eliminating certain exceptions to title prior to closing. But a buyer will only have a short period of time during which to act on the preliminary title report. So itís extremely important for a buyer to carefully review a preliminary title report immediately and to take appropriate action if there are any unacceptable exceptions to title.

  2. #2
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    Default What is a preliminary title report

    thank you for the infofmation.

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    Default prelim title

    Preliminary title report is more like a title commitment. It will say, based on a general glance of the records, whether or not there may possibly be a cloud on title be it a lien against the property or other encumbrance that needs to be further investigated.

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    Default Preliminary Title Report - California

    What is the difference between a Preliminary Title Report and a Title Binder/Commitment? As a lender am I at risk if I close on a Preliminary Title Report?

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    Default

    dcdubbs, please do not respond to old threads - this thread is from 2005. I'm sure MBAKER has gotten their answer by now.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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    sorry about that-I'll make sure it doesnt happen again

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    Ok, thank you.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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