The short answer is yes, you can sell your property without a title company. The bigger question is, why would you risk it?
Because of the considerable dangers such as potential hidden liens, title defects, and other legal complications, hiring a title company only makes sense to protect the biggest asset of your life.
At Lilly Title & Settlement, we provide essential services like title searches and title insurance for both buyers and lenders.
Here’s why you want a title company working for you.
At Lilly Title & Settlement, we provide essential services like title searches and title insurance for both buyers and lenders.
Here’s why you want a title company working for you.
5 Risks of Selling Your Property Without a Title Company
Hidden liens and other claims
Buying a home without doing a title search is not advisable. There could be unpaid taxes, mechanic’s liens, previous disputes over the property that could surface after the sale, risking buyer ownership.
Title Defects
Common issues are boundary disputes, issues with the title, and incorrectly recorded information, all of which can invalidate the sale of the property. Read our post of “7 Common Title Defects and How Title Insurance Can Help.”
Complex Legal Documentation
The business of real estate transactions is highly complex. Without a title company to review intricate legal documents and errors in paperwork can lead to complications that can mean financial loss for both the buyer and the seller.
No Protection
Without title insurance for the buyer, you’re opening yourself up to the possibility of future claims that challenge your ownership of the property you purchased.
No Clear Title
Without a title search, the buyer is risking not receiving a clear and marketable title. In short, that means the buyer cannot legally prove ownership much less sell the property at a future date.
Buying a home without doing a title search is not advisable. There could be unpaid taxes, mechanic’s liens, previous disputes over the property that could surface after the sale, risking buyer ownership.
Title Defects
Common issues are boundary disputes, issues with the title, and incorrectly recorded information, all of which can invalidate the sale of the property. Read our post of “7 Common Title Defects and How Title Insurance Can Help.”
Complex Legal Documentation
The business of real estate transactions is highly complex. Without a title company to review intricate legal documents and errors in paperwork can lead to complications that can mean financial loss for both the buyer and the seller.
No Protection
Without title insurance for the buyer, you’re opening yourself up to the possibility of future claims that challenge your ownership of the property you purchased.
No Clear Title
Without a title search, the buyer is risking not receiving a clear and marketable title. In short, that means the buyer cannot legally prove ownership much less sell the property at a future date.
What Does A Title Company Do?
While it may seem cheaper to forego hiring a highly respected title and settlement company like Lilly Title & Settlement, it’s also a tremendous gamble.
Our job is to protect you from possible future legal harm. We do that with a title search. We research public records to uncover any existing liens, claims on the title, or encumbrances on the title that will not allow it to be transferred to the new owners.
While we cannot remove existing liens, we can help the seller negotiate and settle with any lien holder discovered during the title search process.
We provide escrow services, holding documents and funds until all conditions are met and the sale can proceed with a smooth transfer of ownership.
Lilly Title & Settlement also offers title insurance for home buyers. This is an optional purchase but one that we highly recommend.
It makes no sense to invest in a home without it. Lenders require that the buyer purchase title insurance for them. They want to protect their asset! So why shouldn’t you?
Title insurance protects you from what is not legally recorded such as fraudulent claims, forgeries, lines of credit that are not closed but used, leaving you on the hook for thousands of dollars, and more.
Play it safe and make the one-time purchase and protect yourself for as long as you own the home.
And lastly, we manage the closing of your new home. It’s a big job but we love it!
When you’re ready to close on your new home, call us or stop in. We’ll handle your closing with ease so you can get into your new home quickly!
Our job is to protect you from possible future legal harm. We do that with a title search. We research public records to uncover any existing liens, claims on the title, or encumbrances on the title that will not allow it to be transferred to the new owners.
While we cannot remove existing liens, we can help the seller negotiate and settle with any lien holder discovered during the title search process.
We provide escrow services, holding documents and funds until all conditions are met and the sale can proceed with a smooth transfer of ownership.
Lilly Title & Settlement also offers title insurance for home buyers. This is an optional purchase but one that we highly recommend.
It makes no sense to invest in a home without it. Lenders require that the buyer purchase title insurance for them. They want to protect their asset! So why shouldn’t you?
Title insurance protects you from what is not legally recorded such as fraudulent claims, forgeries, lines of credit that are not closed but used, leaving you on the hook for thousands of dollars, and more.
Play it safe and make the one-time purchase and protect yourself for as long as you own the home.
And lastly, we manage the closing of your new home. It’s a big job but we love it!
When you’re ready to close on your new home, call us or stop in. We’ll handle your closing with ease so you can get into your new home quickly!
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