If you are planning to buy your own dream house and lot, then hold on first and read on some few tips when buying real estate properties. One of the first few things that you should do prior to finalizing your purchase is to perform a property records search in order to find out if the title is clean and free from any legal issues and other claims.
There are instances where some of the properties have claims from previous owners or heirs of the owner that were not yet resolved in the past. One thing to note is when the registered owners are both spouses and only one of them are doing the transaction without the knowledge of the other spouse; then your transaction with the lot becomes null and void. In this case, you should bear witness to the signing of both spouses in order to assure that both of them have consent for the sale of the said asset.
In other case, heirs of a deceased person can already claim part ownership of the property; hence, the spouse of the deceased person cannot transact the sale alone without consent from the children, depending on the situation. Therefore it is important to perform property record search in order to refer instances like this to legal counselors in order to ensure that you will be free from any legal issues in the future.
Performing a property records search will give you results like the legal registered owner, its contact details, names of spouse and children, mortgage information, history of the sale of the asset and its prevailing market value, and information about the neighborhood. These are very relevant data which you should know prior to finalizing the transactions; hence, perform your property records search first before buying your dream house and lot in order to get real bargain from your purchase without worrying about future problems that may suddenly arise.