Title And Survey Review: Why You Need A Lawyer
Whether you are buying or selling a piece of real estate, it is often very difficult for the transaction to go forward without a title insurance policy. Buyers need to know that they are not getting any unwanted surprises that wouldn’t be covered by the insurer.
Furthermore, insurers want to minimize their own liabilities, so they will typically not issue a policy without a thorough survey of the property and a comprehensive title review. In essence, they are more willing to insure a property if they know that future claims would be unlikely to occur or inexpensive to honor.
Why Hiring A Lawyer Is A Good Idea
At Douglas A. Booth, our Texas real estate law practice includes survey and title review services. We regularly work with insurers and understand what they are looking for before issuing a policy. That includes:
- Evidence of a recent, comprehensive survey of the property
- Research listing any title defects or potential problems
- Evidence that any title defects have been resolved
- All necessary paperwork filled out thoroughly and submitted without errors or omissions.
You could try to do this work yourself, but it is a tedious and complicated task for a non-attorney. You risk being denied a policy for errors or omissions. And even if you do get a policy, you may end up paying higher premiums because of certain issues that were not properly resolved before applying.
In short, hiring an attorney to attend to title and survey review makes financial sense. The cost of working with our firm is likely lower than what it could cost to fix mistakes later on.