These kinds of title insurance issues can delay transactions.
Here are the three most common issues we run into in the title insurance world:
1. Uninsured deeds. This means that during a home sale, the property in question wasn’t insured by the title company during the transfer. These can seriously turn into black holes, so let your title insurance company know as soon as possible if your home has an uninsured deed.
2. Solar panels. For such a beautiful thing, these can present a ton of problems on a title report. Oftentimes, solar panels will be mentioned in the tax portion of the report or omitted completely because the solar panel company hasn’t sent the proper documentation over to escrow (which can delay the closing). Here in Southern California, we’re always hearing about rising utility costs, so solar panels are increasing in popularity. During many transactions, we have to ensure that the proper solar documentation is available so that the property transfer is done properly.
“We’ve become experts at overcoming these challenges.”
3. Liens. Any type of lien that needs to be paid off is something we see frequently, whether it’s a child support lien, mechanic’s lien, a previous unpaid mortgage, or something else. If it’s a child support lien, you have to deal with the court. If it’s an IRS lien, you have to deal with the IRS (good luck with that).
The good news is, we’ve become experts at overcoming these challenges. We have a whole building of people dedicated to doing just that. If you have questions about this topic or need help with any of these issues, please reach out to us. We’d love to help you.