Welcome to the AFX Research More info | FAQ page! Here, we address the most common questions about conducting a title search, understanding legal documents, and how various liens on the property or claims against the property can affect real property transactions. Whether you're looking to buy a home, need insight into chains of title, or are interested in title insurance, we provide the answers you need to navigate the complexities of real estate transactions. Learn how performing a title search can help you understand the legal owner of a property, uncover any previous owner history, and ensure the property is free of any encumbrances that could impact your investment. Find out how these factors may influence closing costs, tax liens, and your interests in the property. Let us guide you through the steps of making informed decisions about purchasing and securing your real estate.
The real estate "bubble" market of the past 5 years has caused millions of documents to be recorded on property titles. This volume has increased the number of errors, and opened loopholes for document fraud. Because of this, more homeowners are becoming interested in checking their property title records, like they might check a vehicle history or their credit report. We are more often finding some common title errors. When clients check the title search on their property, they are often surprised to find old liens, incorrect ownership, and even mortgages taken out without their knowledge.
Even though the financial account for a prior refinanced mortgage may be paid off, the lender also has to file a lien release with the county records office to remove the old mortgage from your property title. The extreme volume of mortgage refinance activity over the past 5 years has resulted in lenders becoming less careful in filing these documents.
Even though the financial account for a prior refinanced mortgage may be paid off, the lender also has to file a lien release with the county records office to remove the old mortgage from your property title. The extreme volume of mortgage refinance activity over the past 5 years has resulted in lenders becoming less careful in filing these documents.
A title search will show the current ownership structure, if it is owned individually, jointly, as tenants-in-common, tenants by entireties, or even as a corporation. A death in the family, or divorce are also reasons to verify title search records.
Increasingly, criminals are using property records fraud to commit financial crimes, and identity theft, without notice to the property owner.
The gap between the contract and closing dates allows a loophole where liens or mortgages from a prior owner may not be cleared from property records.
The counties assessed value may not represent the true taxable value of property in today's changing market, resulting in an inflated tax bill.
A title search will provide a stamped recorded copy of the property deed, which can be valuable as proof of ownership, or residency.
The title search shows the original purchase price and date of the current owner, listing mortgages and liens. The buyer knows the sellers current financial situation before making an offer.
After purchasing a property, the title search is checked, to verify that the correct names are on the title, and that all records are recorded properly.
What is a title search?
A title search is the resulting document of data research on a piece of real estate. A real estate researcher, sometimes called an abstractor, will retrieve the records on a property, such as transfers, liens, judgements, and other recorded data. The results are compiled into a report, called a title search. This report can be used to understand the status of the property, such as if there are liens against the property, or ownership status.
Who needs a title search?
Some typical uses of a title search are as follows. First, many of our clients are investors, looking at properties for purchase. Some investors buy properties through foreclosure, or at auction. These potential buyers wish to determine the status of any liens that may be on the property. Other clients are real estate buyers, who want to understand the ownership of a property before they make an offer on it to the seller or broker. Sometimes, knowing the amount of mortgages on a property, or if there are financial problems can help with the negotiations. Also, our title searches often include comparable sales data, to see what other properties in the area have sold for. In addition, some of our clients need a title search as part of a family event, such as divorce, estate or otherwise.
Many homeowners are now checking their own homes title status on a regular basis, to make sure no liens are attaching to the property.
Can I do a title search myself?
Yes! In most counties and cities, anyone can visit the records office, and retrieve the data and documents needed to create a title search. In most cases, the only cost is that of copying fees. Most municipal offices charge about a dollar a page for copies. Keep in mind that pulling all the right documents can be time-consuming and tricky. Often, documents and liens can be cross-referenced in different ways in different counties. Sometimes owners name is used, sometimes address is used, and other times PN# is used.
Using a professional title search firm makes sure that someone with experience in collecting all relevant documents is performing the search.
What is the difference between a property report and a title search?
You may see that property reports are available online, sometimes for as little as $10. This report is usually a copy of the tax records, showing the name of the assessed owner, and possibly with some neighborhood information. This is NOT the same as a title search, as it does not search for liens, or ownership transfers.
Do you search for liens?
Yes, this is the most important part of a title search. We run a lien search for the property, and list all liens recorded against the current owner of the property. This includes both mortgage liens, and all non-voluntary liens such as tax liens, contractor liens, etc.
How long will it take to get my title search results back?
Full, in-person searches take between 12- 72 hours. (Not including weekends). Many of our searchers around the country are set up on a PDA/pager system, so that we can send your order to them instantly as it comes into our website. This way, the abstractor can begin pulling the records in real time, without having to leave the courthouse, or records database.
How are the results sent to me?
We normally sent the results of title searches by email. The full search often contains document image copies which are scanned to PDF files for you. You can view the documents on screen, download them to your computer, or print copies at your desktop.
How do I contact someone at your company?
We can be reached in several ways. Our office number is 877-848-5337. Email us at info@afxllc.com, or use the Live Help function on our website.
Is the property owner notified of a search?
No, our search does not involve visiting the property, or notifying the owner, or occupants. County records offices do not normally make notice of searches either.
What about commercial properties?
We can normally do a search on commercial properties for the same price. However, in some cases if the property value is excessive, or the records abnormally complex, a commercial search may be priced higher. We will contact you before proceeding if this is the case.