A title search, also known as a property title search, is conducted on homes to retrieve important details before a real estate transaction is completed. These details could include things such as whether the seller is the legal owner of the property, what restrictions or allowances apply to the use of the land, what payments and taxes still remain on the property, and any previous financial transactions linked to the property. A title search is typically performed by a real estate lawyer on a... [read more]

When a buyer decides to take responsibility for paying a seller’s existing mortgage, this is often referred to as “assumability”. An assumable mortgage is essentially an agreement between a buyer and seller to take over an existing mortgage debt. The interest rate and the mortgage term all stay the same. There are several reasons why a buyer might want to assume the seller’s mortgage. Perhaps the seller’s mortgage rate is lower than what the buyer has been... [read more]