Reviewing the Title Commitment

10 Easy Steps to Home Ownership

Step #7
In the Purchase and Sale agreement, the Buyer asks the Seller to provide a Title Commitment on the home. A Title Commitment is a precursor to the title commitment insurance policy which is issued after closing. The title insurance policy protects the buyer’s interest in the property again such things as forged deeds or releases, deeds by minors, invalid deeds due to an expired power of attorney, fraud, and unrecorded eastments.

The commitment delineates any liens or other encumbrances on the title to the property. These can include anything from a utility company easement to a contractor lien for work performed on the property.

The Buyer has a contract-specified number of days prior to closing to review the title commitment to ensure that the commitment is acceptable to the Buyer. If the commitment has items unacceptable to the Buyer, the contract provides a specific number of days for the Seller to make the title acceptable to the Buyer or releases the Buyer for continuing the contract.

Boise area Title Companies:
Stewart Title
LandAmerica Transnation
First American

Step #8: Final Walk-Through…