Identifying Red Flags on the Preliminary Report
INCOMPLETE OR INACCURATE LEGAL DESCRIPTION. It’s always important that when purchasing a home the legal description of the property is the same on the preliminary title report as well as the purchase agreement.
Making sure that all OUTSTANDING DEED(S) OF TRUST are closed prior to the transfer of title.
Ensuring that all TAXES AND ASSESSMENTS are paid and no outstanding bills are left prior to the transfer of title.
ANY PENDING CIVIL OR CRIMINAL ACTIONS should be cleared prior to the close of escrow.
As well as any JUDGEMENT AND LIENS