When you will get your Preliminary Title Report...
Sunday, March 18, 2007
by Broker Duo
You'll usually receive a copy of the Preliminary Title Report to the property that you are purchasing within 5-10 days after an accepted offer and when escrow is opened with your Title Company. They need to research the history of the property, the seller and the buyer to confirm there are no outstanding judgments against either party. It is really important to watch your timeline. When you receive this title report, usually by mail, unless your real estate agent forwards it to you by email, you have 5 business days to review, request any additional information or request termination of the purchase. With your Preliminary Title Report, you may have CC&R's (Covenants, Conditions and Restrictions), this mandate what you can and cannot do in your neighborhood. Pay attention to any restrictions that may effect your lifestyle.