Title & Escrow Red Flags
ASK THESE QUESTIONS TO AVOID A DELAY IN CLOSING:
Does the legal description match what is on the Purchase and Sale Agreement?
Are all parcels included? Are there access requirements listed on The Commitment?
Sellers & Buyers
Are any of the parties using a Power of Attorney to close?
Are any of the parties incapacitated?
Are any of the parties a Trust, Corporation, Limited Liability Company, or Partnership?
Are any of the parties involved in a pending bankruptcy?
Are the Sellers listed on the commitment the same as the parties who signed the contract?
Are there any life events that may affect the sale of the property? Recent marriage, divorce, or death?
Are the Buyers’ names spelled correctly?
How does the Buyer intend to take title?
Are there liens or judgments listed on The Commitment?
Are there Deeds of Trust or Mortgages listed that have been paid off but not released?
Are there easements or road maintenance agreements that need to be addressed?
Has there been any new construction on the property? Has all work and/or materials been paid for and are the lien waivers signed?