Page 18 - Victor Alvarado Seller Guide
P. 18

Reviewing Your

            Title Commitment






            The following is provided to help understand the Title   REQUIREMENTS: These are items that Driggs Title
            Commitment, also referred to as a Title Report, which   Agency needs to eliminate or “Clear” from the title in
            you will receive from Driggs Title Agency. Upon re-  order to provide a clear, unencumbered title to the
            ceipt, you should review the document with attention   Buyer. Items that must be cleared include:
            to these areas:
                                                              • Payment of property taxes.
            SCHEDULE A: This reflects information provided    • Assessments owed of record.
            to the Title Department by your Driggs Title Agency   • Any encumbrances (or liens) on the property.
            Escrow Officer as a result of the purchase contract
            and a preliminary search of the public records re-  Often encumbrance items show up because an-
            garding the Seller. Information provided by the Buyer
            and/or Realtor, such as the legal description of the   other individual has a name similar to one of the
            property, sale price, loan amount, lender, name and   parties in the escrow. Driggs Title Agency may ask
            marital status of Buyer and Seller are reflected. Be   for an Identity Statement in order to determine if
            certain the information reflected in Schedule A is cor-  items that show up are not related to our parties
            rect as this will be reflected in all of your documents,   and can be deleted.
            including any lender documents.
                                                              RECORDER’S REQUIREMENTS: The County
            SCHEDULE B: “Exceptions” are items which          Recorder’s office that specifies the required size, mar-
            run with the land to include Covenants, Conditions   gins and print size on documents to be recorded. If you
            and Restrictions (CC&Rs), easements, homeowners   have any questions, remember an answer from your
            association (HOA) requirements, mineral rights as   Driggs Title Agency Escrow Officer is just a phone call
            reserved in patents, leasehold interests and other   away.
            items which will remain of record following transfer of
            the property. They are called “Exceptions” because
            the Buyer will receive clear title “Except” the Buyer’s
            rights to use of the property will be subject to the
            CC&Rs, easements for utilities of record and perhaps
            others as described in theincluding any lender docu-
            ments.“Exceptions.” A Buyer should carefully read
            the Schedule B documents which further define a
            Buyer’s use of the property.

























       www.driggtitle.com                                                                                          18
   13   14   15   16   17   18   19   20   21   22   23