How to Determine the Condition of a Seller's Title?
What is typically used to determine the condition of a seller's title?
A. title commitment or title insurance policy
B. physical inspection of the property by the buyer
C. closing statement prepared by an escrow agent
D. escrow report prepared by an attorney
Answer:
The condition of a seller's title is typically determined through a title commitment or title insurance policy.
Selling a property involves various steps, including verifying the condition of the seller's title. When determining the condition of a seller's title, it is generally done through a title commitment or title insurance policy (option A).
These documents provide assurance about the seller's legal claim to the property and offer protection if the title proves inaccurate. It is essential to have a clear understanding of the seller's title condition to ensure a smooth and secure real estate transaction.