1. Property information
Verify the property address, legal description, and any other details about the property that are included in the title commitment.
2. Lien review
Review all existing liens on the property to ensure they are accurate and up-to-date.
3. Title search
Confirm that a thorough title search has been conducted by the title company before closing.
4. Exclusions and exceptions
Review any exclusions or exceptions listed in the title commitment, such as zoning laws or easements that may affect ownership rights of certain areas of the property.
5. Restrictive covenants
Check for any restrictive covenants associated with the property, such as those imposed by the homeowner’s association or local municipality.
6. Title company
Confirm that the title company listed on the title commitment is accurate and has sufficient financial strength to protect the real estate buyer against any potential claims arising from the transfer of title.
7. Closing costs
Review all closing costs associated with the transaction, including fees for surveys, appraisals, and other services as required by state law.
8. Insurance coverage
Verify that adequate insurance coverage is in place to protect both parties from any losses related to damage or theft of property during closing.
9. Transfer taxes
Make sure that all applicable transfer taxes have been paid before closing, such as those imposed by state or local governments.