The Blog

San Diego Transaction Coordinators & Preliminary Title

When you take a listing in San Diego, it’s a good idea for your San Diego area transaction coordinator to order a copy of the preliminary title report if you have not done so already. That’s because it’s always a good idea for the San Diego Transaction Coordinator and the listing agent to learn as much about the property as possible in the earliest part of the listing.

There are many things that San Diego Transaction Coordinators look for when reviewing a copy of the preliminary title report. Here is a list of some of the items and listing agents and transaction coordinators should review on the title report:

1. Owner Names. Do the names of the owners on the title report match the names of the owners on the listing agreement? Is the property owned in a trust? If so, did the agent use the correct listing agreement? Did all of the owners sign the listing agreement?
2. Property Address. Does the property address on the title report match the property address on the listing agreement? Are all parcel numbers noted?
3. Liens. Are there liens (mortgage or otherwise) noted on the title report? Does escrow have the required information about these liens so that the payoff statements can be ordered? Are there any liens that the seller did not know about? Is the property a short sale? Is the agent working to process the short sale and remove all of the liens listed on the title report?
4. HOA. Is the property in a Homeowner’s Association? Does escrow have all the required information about the association so that payoffs and documents can be ordered in a timely manner?

These are just some of the things that San Diego Transaction Coordinators and listing agents should review on the preliminary title report. Additional information can be garnished by having the seller complete a Statement of Information. Sometimes there are liens against the individual (such as a tax lien or a child support lien) that are not on the title report, but that must be satisfied prior to closing.

If you or anyone you know needs a San Diego Transaction Coordinator to support you with your next real estate transaction, please do not hesitate to contact the team of transaction coordinators at Transaction 911.