Buying a home is a major event in a person’s life. Beyond the basic shelter it provides, a new home purchase often signals a turning point in our lives, one that makes us crave a more permanent space to make our own. It often happens at a time when we are tired of renting small apartments that no longer provide what we need. Choosing a home is a difficult decision to make and, often a much more difficult plan to see to fruition. With so much time and money involved, we hope things will come together quickly, so that the home we want will be ours. In such an important process, mistakes are sure to occur that slow things down. Even though the house you want to purchase will be new to you, it already has a history. To establish a clear title on a property, a title search will need to be completed. One frequent problem during the title search, is an error in public records. What effect can a public records error have on the deed in question?

errors in public recordsDuring a title search, both municipal and county officials will check any documents that are associated with the property. This includes street assessments, sewer assessments, judgements, special taxes and assessments, along with any other documents that have to do with the title. Although these are official government documents, sometimes human error can cause a problem during the title search. Errors in spelling, wrong address, inaccurate property description, and incorrect information can all influence the deed and cost you unexpected fees. One example of an error in public records is a property description that seems to be correct, such as the square footage of the house. Banks only offer 80-90% of the home’s appraisal value and if the square footage of the home is not the same as that listed in the documents concerning title, the homebuyers may run into problems with the loan amount. The buyers may find themselves unable to get the loan amount they need, leaving them unable to buy the home. Mistakes in the filing of documents, pending legal action, or undisclosed mortgages can also add to a homebuyer’s problems. With all these issues and more, how can you avoid public records errors when buying a home?

The truth is, you cannot completely avoid errors in public records since you do not have control over the history of a property you wish to buy, and you certainly cannot control a mistake that may have been made decades ago. However, there is one thing that can protect your rights of ownership from errors that are found in public records. A Lender’s Policy only protects the loan, not the property. A homeowner’s title insurance policy from Heights Title Services, LLC will protect you for the whole time you own your home. The only time your coverage decreases is when you make those changes to your policy. Depending on the coverage you choose, this may cover the legal costs you may incur while defending your interests and the losses you sustained because of a title error.

Share this post on: