Is the process of researching and examining all relevant records to determine the ownership status of a property and to identify any potential risks or encumbrances. This includes reviewing the property’s title history, any outstanding liens or mortgages, and any zoning or land use restrictions.
A title search is typically conducted by a real estate attorney , title company or an Independent inspector. It involves reviewing the property’s deed, any other recorded documents that affect the property’s title, and any public records that may contain information about the property.
Due diligence is a broader process that goes beyond simply reviewing the property’s title. It also includes inspecting the property for any physical defects or damage, reviewing the property’s financial history, and interviewing neighbors or other knowledgeable individuals about the property.
The purpose of title search and due diligence in property is to help buyers make informed decisions about their purchase. By identifying any potential risks or encumbrances early on, buyers can reduce the chances of encountering problems down the road.