I own my home in IL (no mortgage) and bought second hand from the manufacturer, and is a title favorite research still necessary? I sell my home in Illinois. I bought it used from the manufacturer 28 years ago. Is it a privilege and a title search that I still needed to sell it?
Yes, of course. The buyer has no idea what you've accomplished over these 28 years, including decision Home Equity Loans, incurring federal tax liens, or something similar. No buyer in his mind would be good to buy without such a title search.
I would say yes ... you know the history of the house (physical property), but what about the land.
Yes, research is needed, and is therefore a new investigation of the property.
order to sell it ... no
for someone to buy it ... yes (unless then are crazy)
especially if they get a mortgage buyer ... no mortgage company will finance a property without a title search
success
Yes. You can not obtain title insurance without a lien search.
Posted on June 4, 2010.
