The Backbone of Real Estate Transactions
In real estate, the title process is one of the most critical steps in any transaction. Today, Roger Lee & Donavan McFadden, Coastal Virginia's favorite real estate agents discuss this in grave detail with title expert, Jordan Sheard.
A title search is performed to ensure that the property is legally transferred from the seller to the buyer. This process is essential because it provides protection to both the buyer and the seller. Even though the title process has been around for 60 years, it remains just as relevant today, especially for new builds.
Title insurance is also critical for new constructions because the land on which the property is built has been around for ages. Regardless of the newness of the property, it is essential to have a title insurance policy to protect the buyer from any legal issues that may arise in the future.
The importance of the title process is not lost on industry professionals, and in the Hampton Roads Virginia area, they are making a positive impact by providing strategic consultations to buyers and sellers. Real estate agents are equipped with the necessary tools to help buyers and sellers understand the title process, one step at a time.
One of the key players in the title process is Jordan, a subject matter expert in the field. She is an invaluable member of the team, providing a wealth of knowledge and experience to ensure that transactions go smoothly. With her expertise, Jordan has seen and solved some of the most challenging title problems in the industry.
One such case was a transaction where Jordan was working with a buyer and a seller. During the title search, Jordan came across information that revealed some complications. The property in question had been passed down through a family, and the seller was not the only person with an interest in the property. There were two other individuals involved who also needed to sign off on the transfer of the property. This situation, which should have been simple, turned out to be much more complicated because one of the individuals was not claiming an interest in the property.
Jordan's expertise in the title process proved crucial in resolving the issue. Her attention to detail and her ability to work with all parties involved allowed her to come out on top and successfully close the transaction.
In conclusion, the title process is a critical component of any real estate transaction. Industry professionals in the Hampton Roads Virginia area are making a positive impact by providing strategic consultations and expertise to buyers and sellers. With their help, the title process can
be a smooth and straightforward process, protecting the interests of both parties involved.