Aim High Properties, LLC

What You Can Do with Your Cherry Home With Title Issues

by | Feb 21, 2022

A home becomes part of your life story, but if it had a story of its own before you bought it, it may have ended on a cliffhanger.

Unresolved issues with a home’s title in Cherry Hills, NJ can cause major setbacks when buying or selling the property. The seller must resolve these issues before transferring ownership to a buyer.

5 Common Title Issues

Several factors, including unpaid debts, divorces, property line disputes, or even a typo in the property’s records, can affect who legally owns the house. These are some of the common title issues:

1. Errors in public records

There could be errors in the deed or survey of your property that could cause undue financial hardship.

2. Unknown liens

Your house’s previous owners may not have been meticulous bill-payers or bookkeepers. Although the former debt is not your own, banks or other financing companies can still place liens in your property for unpaid debts even after you have closed on the sale.

3. Missing heirs

When a person dies, his home may pass to his heirs, or to those named in his will. However, sometimes those heirs are missing or unknown at the time of debt. You may lose your rights to the home if these scenarios occur long after you have purchased it.

4. Unknown easements

While you may own your new home and the land around it, an unknown easement may prevent you from using it as you wish, or allow government agencies, businesses, or other parties to access all or parts of your property.

5. False impersonation of previous owner

Common names can be used to falsely “impersonate” a homeowner. If you purchase a house that was sold by a false owner, you may lose your legal claim to the property.

6. Illegal deeds

While the chain of title on your property may appear fine, it’s possible a prior deed was signed by an undocumented immigrant, a minor, a person of unsound mind, or a person who is reported single but is in fact married. Due to these circumstances, prior (and possibly current) ownership may be affected by the enforceability of previous deeds.

7. Undiscovered encumbrances

It may not be obvious at the time of purchase that a third party holds a claim to all or part of your property—owing to a former mortgage or lien, or non-financial claims, such as restrictions or covenants limiting the use of your property.

Your Options for a Home with Title Issues

To ensure that the title to your home is clear and that there are no surprises, it pays to conduct a title search. It is possible to resolve property title issues on your own, but real estate attorneys and title companies have the experience in identifying and resolving them.

If your due diligence reveals that there is a title issue, you must resolve it before you sell the property. There are some mild issues that can wait until closing, but others, such as name identity problems or human errors, take time and planning. You must be able to gather the necessary documentation to prove that you are entitled to the property.

Before you can sell your house in Cherry Hill, you must resolve title issues. The process of resolving title issues can be time-consuming and expensive. It may seem like too much time, hassle, or expense to you.

In that case, there is a solution. Cash home buyers can buy homes with title issues, allowing you to avoid the difficulties that accompany them. You can save the fees of the title company and the attorney, sell your home quickly, and get a fair cash offer.

Need to Sell Your Home Fast in Cherry Hills?

If you are looking for a reliable cash home buyer in Cherry Hill, NJ, Aim High Properties, LLC is ready to help. With several years of combined experience working in home investment, we have worked with homeowners under a wide range of circumstances. Not a single situation has escaped our attention.

Selling in New Jersey’s market can be challenging. Whether you need to sell your house fast or are trying to see the light at the end of the tunnel, we can help.

Send us the details of your property, including any time constraints you might be facing, and we will prepare an offer. The sooner you contact us, the sooner your property will sell. Call us today at (856) 861-6000.

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