Basic level real estate service would be delivering you the documents involved in title research, handing over the insurance binder and letting you wade through the book–sized material on your own. Believe it or not, that’s the approach many real estate agents take, and some don’t even give the documents a cursory once–over. It’s true that properties that've changed hands before, generally don’t have major title issues, but you can never know for sure without a thorough reading and understanding of the documents involved.
There are also restrictions and covenants revealed in your Title Binder or Commitment package that you may not have known about when you made your offer. Though you may have read disclosure documents or even a copy of subdivision or condominium covenants, it could be that there have been changes since it was printed. The only way you would find out is to read your title insurance binder’s copy of the documents, as it will include the latest documents as recorded at the courthouse. You may also find some recent filings related to obligations of the homeowner association that could result in future expensive assessments.
Any covenants and restrictions you notice in these documents that may restrict your use of the property in a way that causes you to reconsider your purchase would be important, and you’ll not want to miss them. Let’s say that you have a recreational vehicle and intend to park it on your property. Maybe you even plan on creating a shed for it. Any restrictions to the contrary would be important to you, and Van Wert Real Estate Services LLC’s agents are committed to helping you uncover every important item in your title insurance documents.
There's several addiitonal aspects to title insurance, like the Restriction and Exceptions portion of the Title Binder, so questions are to be expected. If deadlines aren't meant, that could result in the deal dying, so don’t hesitate to get right to the examination of this document and attachments.