The process of buying a home in Ohio requires a great deal of paperwork. There are the loan applications, There is the inspection paperwork. There are the disclosures for an older home. But one of the most important pieces of paper is the title.
The title is what tells you that you own the home. Even though the bank technically holds the title until the loan is paid off, an ohio title search is still required on all homes before they can be purchased. The information contained within a title can help sell a home or turn off a buyer.
An ohio title search will reveal the history of who owned the home. Homes with only one or two owners can be appealing to some home buyers. If those claims are made, then the proof is contained in the title. Sometimes, who is on the title is an attraction for some home buyers. There is some appeal of owning a home that a celebrity once lived in. But multiple owners aren’t actually a deterrent to buyers because isn’t that big of a factor in the decision process.
The other big thing that a ohio title search reveals is if the house had a lien on it. A lien is a huge turn-off to buyers because it adds to the price. The lien has to be paid off before the house can be sold. Liens can be placed for all sorts of reasons. One of the most common place a lien comes from is a failure to pay a contractor for work done on the home. Lien claims should be investigated if there is an interest in the home itself. If they are valid, then the lien must be paid before the title is clear.
The title search ohio is an important part of investigating a home. While the previous owners may hold an interest, an existence of a lien could hurt the sale of the home. Thus, it is important to find out beforehand if there are any issues with the title before the sale. This way these issues can be resolved before the final paperwork is signed.
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