Study of titles: what are its main advantages?

You may not have known this, but title research is an essential component of real estate investing. This type of operation involves a large number of paperwork and documents to ensure that they are legitimate.  Apartamentos Miami Precios

Specifically, if you want to buy or sell property in Florida, you must meet certain requirements. These are the most important:

Passport and visa.

Proof of income.

Financial guarantee from an accountant.

Bank and credit references.

Proof of payment of services and taxes.

However, in a real estate operation, in addition to gathering the documentation, it is important to carry out a study of property titles. This consists of analyzing the legal situation to make sure that everything is in order, from a legal point of view. This analysis offers important benefits to the parties involved.

Advantages of title study

Currently, the real estate industry in Florida is experiencing rapid growth. Above all, from the hand of foreign investors who are interested in buying and selling real estate in the main cities of the region.

Why is it important to carry out a title study before acquiring a property in the area?:

Know the state of the property

With this procedure you can confirm that the property is legally available for sale. That is to say, that it is not in succession , seized, alienated or in the process of judicialization.

In this way, the real estate operation is accelerated because it avoids stopping the procedures for paper issues. Thus, you will be able to verify in advance that everything is in order to make the sale of the property effective.

Ensure its legitimacy

This analysis allows to verify the validity of the housing deeds. As well as, if the person who sells it is actually the owner. In addition, it helps to verify that the property does not present unresolved situations that could cause problems in the future. This way, you will avoid taking the risk of a scam.

In some cases it is possible to make amendments to the documents to correct the inconveniences that have arisen.

Verify that you do not have debts

Another crucial issue in real estate investments is to check that the properties do not have mortgages or other debts. For example, unpaid taxes or pending credits.

In fact, it could happen that a property is expropriated as a result of accumulated debts. Therefore, it is important to verify that you are not affected by this type of obligation.

What is the title study process like?

The process to complete this study can take between 14 days and 2 months (Portal Innova, 2021).

These are the steps that usually must be followed to carry out the process:

investigate the property

Please note that a title search can only be performed by an attorney. It is best to hire the services of a title company that has a team of professionals to carry out the process. They will review in detail all the documents and records of the property that interests you.

Know the geographical limits

As part of the analysis, it is essential to study the urban property where the land or property is located. This implies reviewing the regulatory plans to verify:

Total extension of the property and limits of the property.

General conditions of habitability of the property or real estate complex.

Restricted or risky areas that affect the land.

Housing projects that are allowed.

Road issues and urban infrastructure in the surroundings.

Issue title insurance

Once you have the study of titles in hand, it is advisable to take out insurance that protects you against unforeseen events and irregular situations. Submit it, together with the sales contract, to cover any legal inconvenience associated with the operation.

This is a good strategy to avoid real estate fraud, both in development projects and in completed homes. Some of the problems you can avoid are:

Cover used properties without a building permit or extension.

Cover properties without proof of habitability.

Conflicts of urban type that may affect the property in some way.

In buildings under construction, ensure that they meet all architectural and urban requirements.

Thinking of purchasing a property in South Florida? Whether it is a second home, or as an investment, do not forget to carry out the study of titles . To do this, hire the services of a reliable company that will provide you with the necessary advice throughout the process.

Visit link - https://pfsrealty.com/casas-y-apartamentos/comprar/ciudad/miami