3 REASONS WHY NOT DOING A ST. GEORGE TITLE SEARCH IS a bad Idea
Not doing a proper title search can pose many problems to the security of your home. This article presents three reasons why not doing a St. George title search is a terrible idea.
A good title company will conduct a thorough search of ownership of the property you want to purchase. To perform the St. George title search, the title company will use internet, city and county records, and any library resources to look for any liens, hazards, or encumbrances associated with the property. This is usually done in conjunction with the purchase of title insurance, which protects you, but more directly protects the lender of the mortgage because they’re the ones holding the lien and financial interest in the property. In the State of Utah, it is customary for the seller to purchase the title insurance.
Suppose you bought a house, moved in, made some improvements, and landscaped the yard, all without a good St. George title search. After some years of happy home ownership, the County Assessor’s office calls you to inform you that the person who sold you the house didn’t have a proper deed of ownership, therefore, didn’t have the right to sell it. Now, a relative of the original homesteader is claiming ownership of the property where the house sits. Now, the fun begins! First, you try to talk to the grandson, but that hits a brick wall. Next, you talk to a lawyer, but he says, “Either you have to move, or you can fight it in court.” Oh, how you wish you had obtained a thorough St. George title search!
St. George is considered among the fastest growing cities in the USA, and there is plenty of new construction in process. Suppose you pay cash for a newly-built house and fail to get a thorough St. George title search. After a few weeks, the company that installed the plumbing contacts you with bad news: they never got paid. You call the contractor, but he has filed bankruptcy. So, you either pay the plumber to release the lien on the house or get a lawyer involved. Just want you always wanted!
If you fail to get a good St. George title search on your property, you may be oblivious to the fact that 100 years ago your property was used as either a toxic dumping ground or a cemetery. The former means that even with your “green thumb,” your beautiful garden vegetables may be laced with poisonous chemicals. The latter means that you have dead bodies in your back yard. Well, maybe they’ll only bother you in October when neighbors come to see the zombies, in the spirit of Halloween, rising from the graves. You pretend this was your plan all along: to charge admission to your backyard spook alley.