Press release -
Lance Falow of The Heathcote Group lends insight into title issues
But the fact is that 26 percent of title searches reveal an issue that can be corrected before purchasing the property. If these issues go uncorrected, they can pose big problems for investors when they eventually come to light.
“Title issues present themselves when one attempts to sell a property or to secure a loan using property as collateral,said Lance Falow, Managing Partner of The Heathcote Group.
A title is a legal document that establishes proof of ownership of a property. Issues can arise if this document is not handled correctly, if there are outstanding problems regarding the property, if there has been outright fraud or forgery or if there are reasons for contested ownership, such as missing wills.
When purchasing property, consulting with a professional is an absolute must for investors to ensure their real estate is free of title issues. Title insurance is required by most traditional lenders, but it may not be required for those paying cash or entering into a transaction with a friend or family member. Investors would be wise to carry out due diligence on all property purchases and to always invest in title insurance.
- lance falow
- real estate
The Heathcote Group
The Heathcote Group is a real estate investment firm with a concentration in conveyancing, foreclosure and title issues.The Heathcote Group lends money on commercial property and non-owner occupied residential property and also buys defaulted mortgages and distressed property, both in New York and Florida.