If you’re planning a move, there’s one question that almost always comes up: Should you sell your existing home first, or secure your next home before listing? The answer isn’t one-size-fits-all. It depends on your financial position, risk tolerance, and local market conditions. While purchasing a new home before selling your current one is certainly possible, it requires careful planning. Moving forward without a clear strategy can create unnecessary financial pressure. When Buying First Makes Sense: In competitive markets where desirable homes receive multiple offers and sell quickly, buying first may be the most practical way to lock in your next property. One of the biggest concerns for homeowners is selling too soon and then struggling to find a replacement home. This scenario can lead to rushed decisions, temporary housing, or multiple moves — especially challenging for families with children or pets. Buying first can reduce disruption and provide peace of mind, but it’s important to understand the trade-offs. T he Upside of Purchasing Before Selling: ✅Greater Control Over your Move: You avoid the stress of selling quickly and scrambling to find your next home. ✅Less Lifestyle Disruption: Maintaining a show-ready home while living in it can be exhausting. Showings, last-minute cleaning, and schedule interruptions can quickly become overwhelming. ✅Better Presentation When Selling: Vacant homes often show better. Clean, uncluttered spaces photograph more attractively and allow buyers to visualize themselves in the property. The Risks to Consider: Of course, buying first isn’t without challenges. If your current home doesn’t sell as quickly as expected, you could be responsible for: Two mortgage payments Property taxes on both homes Insurance and maintenance costs Increased financial strain Before making a move, homeowners should evaluate: Estimated sale price Expected net proceeds Time-on-market projections Carrying cost capacity Ways to Structure a Buy-First Strategy: 💰Leverage Home Equity: Homeowners with significant equity may access funds through a HELOC or bridge loan. Bridge loans provide short-term financing designed specifically to cover timing gaps between transactions. 🏡Quality for Two Mortgages: Some buyers choose to finance the new home with a minimal down payment. Once their previous home sells, they may recast the mortgage to reduce monthly payments. 📈Borrow Against Other Assets: Investment properties or stock portfolios can sometimes serve as collateral for short-term borrowing. 🏦401(k) Loan (If Permitted): Certain retirement plans allow loans without triggering taxes, provided repayment terms are met. This option requires careful consideration due to long-term implications. ⚡️Consider a Cash Buyer Program: Some companies purchase homes directly for cash, offering flexible closing timelines. While convenience is high, sellers should weigh service fees and pricing. Why Due Diligence Matters: If you’re thinking about buying before selling, clarity is everything. Ask your agent for a seller net sheet , which outlines: Estimated sale price Closing costs Mortgage payoff Expected proceeds A Smart Approach: The most successful buy-first clients plan conservatively. They: ✔ Understand how long they could carry two homes ✔ Have backup financing strategies ✔ Price their current home realistically ✔ Work closely with an experienced agent The Bottom Line: Buying a new home before selling your current one can offer flexibility and reduce stress, but it requires strong financial preparation and expert guidance. With the right strategy, it can be a smooth transition rather than a risky leap. If you’re considering making a move, a conversation with a knowledgeable real estate professional can help you explore your options and build a plan that fits your situation.
Home improvement projects can be exciting — and expensive. In fact, the average U.S. household spent over $9,000 on home upgrades in 2025, according to national home improvement reports. But when it comes time to sell, not every renovation helps your bottom line. Before investing in a major upgrade, it’s important to understand whether the project will actually appeal to future buyers or simply reflect personal taste. Some improvements may even work against you when it’s time to list. Here are several common home projects that often fail to add resale value. 1. Too Much Wallpaper: Wallpaper has made a comeback, but bold patterns and highly specific designs can turn buyers away. While installation can cost around $1,000 per room, that expense is rarely recouped at resale. On top of that, removing wallpaper is labor-intensive and messy — something buyers may see as an extra chore.
In one of the most competitive and innovative regions in the world, it’s no surprise that the real estate market in Silicon Valley plays a major role in shaping financial futures. But just how much of a difference does owning a home really make? A recent study shows a jaw-dropping fact: the average homeowner’s net worth is nearly 40 times greater than that of a renter. To put it in numbers, homeowners average around $396,500 in net worth, while renters hold about $10,410 . That’s not just a gap — it’s a canyon. So what drives this massive divide, and why is it especially important to understand if you’re living in or moving to Silicon Valley? Homeownership Builds Wealth - Rent Doesn't When you pay rent each month, that money disappears. But when you pay a mortgage, you’re putting money into your own asset. Over time, that adds up. In Silicon Valley, where property values have consistently trended upward despite economic fluctuations, your home becomes more than a place to live — it’s a long-term investment with real financial return. Even entry-level homes in the area have shown strong appreciation, which means the earlier you buy, the sooner your wealth can begin to grow. Equity - Financial Mortgage Every mortgage payment you make increases your equity — the portion of the home you truly own. That equity isn’t just a number; it’s financial leverage. You can borrow against it, reinvest it, or use it to upgrade into a larger home. For Silicon Valley residents, this can be a powerful tool in a region where smart financial moves go a long way. Tax Benefits Sweeten the Deal Owning a home comes with tax advantages that renters don’t get to enjoy. These include: Mortgage interest deductions Property tax write-offs Potential capital gains exclusions when you sell your primary residence Given the high income and tax brackets in Santa Clara County and surrounding areas, these benefits can make a real impact on your annual finances. Stability in an Unpredictable Market Rent in Silicon Valley is notoriously high — and unpredictable. Owning a home gives you more than equity; it gives you stability. With a fixed-rate mortgage, you’ll know exactly what to expect each month, unlike rent, which can increase unexpectedly. Plus, with so many tech professionals working remotely or hybrid, homeownership offers the opportunity to customize your living space, create an office that works for you, and lay down roots in a neighborhood you love. Creating a Legacy For many families, buying a home isn’t just about building wealth for themselves — it’s about creating a better future for their children. Whether it’s building generational wealth or simply offering a more secure and stable lifestyle, homeownership often becomes one of the most meaningful financial decisions a family can make. Ready to Take the First Step? Whether you’re a first-time buyer or you’ve been thinking about upgrading your current living situation, we’re here to help you navigate Silicon Valley’s fast-paced market. From school districts to commute options, we know what matters most when choosing the right home.
Protect Your Investment With The Right Coverage If you’ve taken the important step of titling your home into a trust—great job. Estate planning is key to protecting your assets and securing your legacy. But here’s something that often gets overlooked: your homeowners insurance needs to be updated too. A lot of people assume that once their trust is in place, everything is covered. But in reality, if your insurance policy doesn’t list your trust properly, you could be leaving yourself open to unnecessary risks. Here's What Can Go Wrong If You Don't Make The Update: ❌ Claims Can Be Denied: If your home is legally owned by a trust but the trust isn’t listed on your policy, your insurance company could deny coverage in the event of a claim. ⚠️ The Trust Could Be Liable: Without being properly insured, your trust might not be protected from legal or financial responsibility if something goes wrong. 📦 Uncovered Personal Property: If your policy doesn’t reflect trust ownership, items held by the trust inside the home may not be covered in the event of a loss. What You Can Do Today: ✔️ Review Your Current Policy: Take a few minutes to read through your policy—or better yet, schedule a quick review with your insurance agent. ✔️ Talk to Your Insurance Provider: Let them know your home is titled in a trust. They’ll walk you through what needs to be added or adjusted. ✔️ Add the Trust as “Additional Insured”: This simple update ensures that both you and the trust are legally covered for property and liability protection. ✔️ Verify Full Coverage: Make sure your structure and contents—including items owned by the trust—are clearly included in the updated policy. Why It Matters More Than Ever: Recent wildfires across California—including the Palisades and Eaton fires—have been heartbreaking reminders of just how fragile homeownership can be. These fires destroyed thousands of homes and claimed lives, showing how vital it is to have the right coverage before disaster strikes. When tragedy hits, the last thing you want is to be left sorting out a denied claim due to a paperwork oversight. Making sure your trust and homeowners insurance are in alignment today can save you from major headaches—and financial loss—later on.
Estate planners often recommend Living Trusts as a viable option when contemplating the manner in which to hold title to real property. When a property is held in a Living Trust, title companies have particular requirements to facilitate the transaction. While not comprehensive, answers to many commonly asked questions are below. If you have questions that are not answered below, your title company representative may be able to assist you, however, one may wish to seek legal counsel. Who are the parties to a Trust? A Family Trust is a typical trust in which the Husband and Wife are the Trustees and their children are the Beneficiaries. Those who establish the trust and transfer their property into it are known as Trustors or Settlors. The settlors usually appoint themselves as Trustees and they are the primary beneficiaries during their lifetime. After their passing, their children and grandchildren usually become the primary beneficiaries if the trust is to survive, or the beneficiaries receive distributions directly from the trust if it is to close out. What is a Living Trust? Sometimes called an Inter-vivos Trust, the Living Trust is created during the lifetime of the Settlors (as opposed to being created by their Wills after death) and usually terminates after they die and the body of the Trust is distributed to their beneficiaries. Can a Trust hold title to Real Property? No, the Trustee holds the property on behalf of the Trust. Is a Trust the best way to hold my property? Only your attorney or accountant can answer that question. Some common reasons for holding property in a Trust are to minimize or postpone death taxes, to avoid a time consuming probate, and/or to shield property from attack by certain unsecured creditors. What taxes can I avoid by putting my property in trust? Married persons can usually exempt a significant part of their assets from taxation and may postpone taxes after the first of them to die passes. You should check with your attorney or accountant before taking any action. Can I homestead property that is held in a Trust? Yes, if the property otherwise qualifies. Can a Trustee borrow money against the property? A Trustee can take any action permitted by the terms of the Trust, and the typical Trust Agreement does give the Trustee the authority to borrow and encumber real property. However, not all lenders will lend on a property held in trust, so check with your lender first. Can someone else hold title for me “in trust?” Some people who do not wish their names to show as titleholders make private arrangements with a third party Trustee; however, such an arrangement may be illegal, and is always inadvisable because the Trustee of record is the only one who is empowered to convey, or borrow against, the property, and a Title Insurer cannot protect you from a Trustee who is not acting in accordance with your wishes despite the existence of a private agreement you have with the Trustee.
The Mechanics’ Lien law provides special protection to contractors, subcontractors, laborers and suppliers who furnish labor or materials to repair, remodel or build your home. If any of these people are not paid for the services or materials they have provided, your home may be subject to a mechanics’ lien and eventual sale in a legal proceeding to enforce the lien. This result can occur even when the homeowner has made full payment for the work of improvement. The mechanics’ lien is a right that a state gives to workers and suppliers to record a lien and ensure payment. This lien may be recorded where the property owner has paid the contractor in full and the contractor then fails to pay the subcontractors, suppliers, or laborers. Thus, in the worst case, a homeowner may actually end up paying twice for the same work. The theory is that the value of the property upon which the labor or materials have been bestowed has been increased by virtue of these efforts and the homeowner who has reaped this benefit is required in return to act as the ultimate guarantor of full payment to the persons responsible for this increase in value. In practice, a homeowner faced with a valid mechanics’ lien may be compelled to pay the lien claimant and then pursue conventional legal remedies against the contractor or subcontractor who initially failed to pay the lien claimant but who himself was paid by the homeowner. Another justification for this result relates to the relative financial strengths of the parties to a work of improvement. The law views the property owner as being in a better situation to absorb the financial setback occasioned by having to pay the amount of a valid mechanics’ lien, as opposed to a laborer or material man who is viewed as being less able to absorb the financial burdens occasioned by not being paid for services or materials provided in connection with a work of improvement. The best protection against these claims is for the homeowner to employ reputable firms with sufficient experience and capital and/or require completion and payment bonding of the construction work. The issuance of checks payable jointly to the contractor, material men and suppliers is another protective measure, as is the careful disbursement of funds in phases based upon the percentage of completion of the project at a given point in the construction process. The protection offered by mechanics’ lien releases can also be helpful. Even if a mechanics’ lien is recorded against your property you may be able to resolve the problem without further payment to the lien claimant. This possibility exists where the proper procedure for establishing the lien was not followed. While it is true that persons who have provided labor, services, or materials to a job site may record mechanics’ liens, each is required to strictly adhere to a well-established procedure in order to create a valid mechanics’ lien. Needless to say, this is one area of the law that is very complex, thus it may be worthwhile to consult an attorney if you become aware that a mechanics’ lien has been recorded against your property. In the event you discover that a lien has been recorded but no effort has been made to enforce the lien, a title company may decide to ignore the lien. However, be prepared to be presented with a positive plan to eliminate the title problems created by this type of lien. This may be accomplished by means of a recorded mechanics’ lien release from the person who created the lien, or other measures acceptable to the title company. As in all areas of the real estate field, the best advice is to investigate the quality, integrity, and business reputation of the firm with whom you are dealing. Once you are satisfied you are dealing with a reputable company and before you begin your construction project, discuss your concerns about possible mechanics’ lien problems and work out, in advance, a method of ensuring that they will not occur.
How Should I Take Ownership of the Property I am Buying in Silicon Valley? When buying real estate in Silicon Valley, understanding how to take ownership of the property is crucial. The form of ownership—also known as the vesting of title—impacts who can sign documents, future rights, property taxes, inheritance, and even exposure to creditor claims. Why Title Vesting Matters in the Silicon Valley Real Estate Market: Choosing the right way to hold title affects important legal and financial issues such as: Real property taxes specific to Silicon Valley homes. Income and inheritance tax implications. Transferability of title when buying or selling Silicon Valley real estate. Probate and estate planning considerations unique to the area. Given the complexity of property ownership, especially in a dynamic market like Silicon Valley's, buyers are encouraged to consult with legal counsel or their trusted Silicon Valley real estate agent to determine the most advantageous form of ownership. Methods of Holding Title in Silicon Valley Real Estate Transactions: Here are some of the most common ways to vest title when purchasing property in Silicon Valley: SOLE OWNERSHIP: Single Man/Woman: For example, a single individual buyer like Bruce Buyer. Unmarried Man/Woman: A divorced individual owning property separately, e.g., Sally Seller. Married Man/Woman Holding Sole and Separate Property: A spouse purchasing property exclusively in their name. CO-OWNERSHIP In Silicon Valley, if a married person acquires title, the spouse may need to disclaim interest to establish sole ownership, typically handled by your real estate agent and title company. Title Vesting Forms for Multiple Homeowners Community Property: Common among married couples in California, including Silicon Valley. Both spouses equally own the property and must consent to any transfer. For example, Bruce Buyer and Barbara Buyer as community property owners. Joint Tenancy: Ownership by two or more persons with equal shares and right of survivorship—commonly used in Silicon Valley for estate planning. Tenancy in Common: Allows owners to hold unequal shares and independently transfer interest, practical for non-married partners or investors. Consult a Local Silicon Valley Real Estate Expert for Title Vesting Guidance: Navigating ownership options and title vesting is a key step in any Silicon Valley home buying process. Your Silicon Valley real estate agent can provide valuable insight about title options and work closely with title companies and legal advisors to ensure your ownership setup aligns with your financial goals and family situation.
Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed. As a buyer or seller, you want to be certain all conditions of sale have been met before property and money change hands. The technical definition of an escrow is a transaction where one party engaged in the sale, transfer or lease of real or personal property with another person delivers a written instrument, money or other items of value to a neutral third person, called an escrow agent or escrow holder. This third person holds the money or items for disbursement upon the happening of a specified event or the performance of a specified condition. Simply stated, the escrow holder impartially carries out the written instructions given by the principals. This includes receiving funds and documents necessary to comply with those instructions, completing or obtaining required forms and handling final delivery of all items to the proper parties upon the successful completion of the escrow. The escrow must be provided with the necessary information to close the transaction. This may include loan documents, tax statements, fire and other insurance policies, title insurance policies, terms of sale and any seller-assisted financing, and requests for payment for various services to be paid out of escrow funds. If the transaction is dependent on arranging new financing, it is the buyer’s or the buyer’s agent’s responsibility to make the necessary arrangements. Documentation of the new loan agreement must be in the hands of the escrow holder before the transfer of property can take place. A real estate agent can help identify appropriate lending institutions. When all the instructions in the escrow have been carried out, the closing can take place. At this time, all outstanding funds are collected and fees- such as title insurance premiums, real estate commissions, termite inspection charges- are paid. Title to the property is then transferred under the terms of the escrow instructions and appropriate title insurance is issued. Payment of funds at the close of escrow should be in the form acceptable to the escrow, since out-of-town and personal checks can cause days of delay in processing the transaction. The following items represent a typical list of what an escrow holder does and does not do: THE ESCROW HOLDER: Serves as the neutral “stakeholder” and the communications link to all parties in the transaction; Prepares escrow instructions; Requests a preliminary title search to determine the present condition of title to the property; Requests a beneficiary’s statement if debt or obligation is to be taken over by the buyer; Complies with lender’s requirements, specified in the escrow agreement; Receives purchase funds from the buyer; Prepares or secures the deed or other documents related to escrow; Prorates taxes, interest, insurance and rents according to instructions; Secures releases of all contingencies or other conditions as imposed on any particular escrow; Records deeds and any other documents as instructed; Requests issuance of the title insurance policy; Closes escrow when all the instructions of buyer and seller have been carried out; Disburses funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs; Prepares final statements for the parties accounting for the disposition of all funds deposited in escrow (these are useful in the preparation of tax returns). THE ESCROW HOLDER DOES NOT: Offer legal advice; Negotiate the transaction; Offer investment advice. Your local title company should be happy to provide additional information.
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by the I.R.S. To help you better understand this subject, the Land Title Association has answered some of the questions most commonly asked about Required Reporting to the I.R.S. Who is required to report to the I.R.S.? Sellers of real property, under guidelines established by the I.R.S., are required to have their gross proceeds from the sale reported on a Form 1099S. When a settlement agent is used, the I.R.S. makes this agent responsible for the delivery of the information on the Form 1099S. The settlement agent generally will be the escrow agent or title company; however, it may be an attorney, real estate broker or other person providing settlement services. What is an I.R.S. Form 1099S, and what will be reported? The Form 1099S is the reporting form adopted by the I.R.S. for submitting the information required by law. The information will be transferred onto magnetic media by the settlement agent who will store the information and make the required report to the I.R.S. The settlement agent is also responsible for keeping a master copy of all transactions reported. In general, information required by the I.R.S. falls into the following categories: The name, address and taxpayer ID number (social security or tax identification number) of the seller(s) A general description of the property (in most cases an address) The closing date of the transaction The gross proceeds of the transaction (even though gross proceeds do not correspond to taxable income) Any property involved as part of the transaction other than cash or cash equivalent The name, address and taxpayer identification number of the settlement agent. Real estate tax paid in advance that is allocable to the buyer. On what type of transactions is a Form 1099S required? Currently, typical homeowner transactions covered include sales and exchanges of 1-4 family residential properties such as houses, townhouses, and condominiums. Also reportable are sales or exchanges of improved or unimproved land, commercial or industrial buildings, condominiums, stock in a cooperative housing corporation and mobile homes (manufactured homes) affixed to real property. Specifically excluded from reporting are foreclosures and abandonment of real property and financing or refinancing of properties. What happens if the seller(s) refuses to provide the taxpayer identification number for the Form 1099S? The settlement agent is required to request the transferor’s taxpayer identification number(s) (TIN(s)) before the time of closing. You may request a TIN on Form W-9 or use an alternative written request. The IRS has included sample wording of an alternative written request in the instructions for preparation of Form 1099S. Should the seller fail to provide the identification number and certify its correctness, the settlement agent may choose to: Delay the closing of the transactions until the information is furnished, or complete the transaction and report to the I.R.S. that an attempt was made to obtain the information from the seller. How is the sale reported when there is more than one seller involved or when multiple sellers do not own equal interests in the property? Multiple sellers may allocate the gross proceeds among themselves for purposes of reporting. If there is no allocation, an incomplete allocation or conflicting allocations, then the entire gross proceeds will be reported for each seller. Where can I go for further information on taxation of real property? The I.R.S. provides free publications that explain the tax aspects of real estate transactions. You may wish to order: Publication #523 “Tax Information on Selling Your Home” Publication #530 “Tax Information for Home Owners” Publication #544 “Sales and Other Dispositions of Assets” Publication #551 “Basis of Assets”
After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect? Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documents been recorded that will restrict your use of the property? The preliminary report will provide you with the opportunity, prior to purchase, to review matters affecting your property which will be excluded from coverage under your title insurance policy unless removed or eliminated before your purchase. To help you better understand this often bewildering subject, the Land Title Association has answered some of the questions most commonly asked about preliminary reports . What is a Preliminary Report? A preliminary report is a report prepared prior to issuing a policy of title insurance that shows the ownership of a specific parcel of land, together with the liens and encumbrances thereon which will not be covered under a subsequent title insurance policy. What Role Does a Preliminary Report Play In The Real Estate Process? A preliminary report contains the conditions under which the title company will issue a particular type of title insurance policy. The preliminary report lists, in advance of purchase, title defects, liens and encumbrances which would be excluded from coverage if the requested title insurance policy were to be issued as of the date of the preliminary report. The report may then be reviewed and discussed by the parties to a real estate transaction and their agents. Thus, a preliminary report provides the opportunity to seek the removal of items referenced in the report which are objectionable to the buyer prior to purchase. When and How Is The Preliminary Report Produced? Shortly after escrow is opened, an order will be placed with the title company which will then begin the process involved in producing the report. This process calls for the assembly and review of certain recorded matters relative to both the property and the parties to the transaction. Examples of recorded matters include a deed of trust recorded against the property or a lien recorded against the buyer or seller for an unpaid court award or unpaid taxes. These recorded matters are listed numerically as “exceptions” in the preliminary report. They will remain exceptions from title insurance coverage unless eliminated or released prior to the transfer of title. What Should I look for When Reading My Preliminary Report? You will be interested, primarily, in the extent of your ownership rights. This means you will want to review the ownership interest in the property you will be buying as well as any claims, restrictions or interests of other people involving the property. The report will note in a statement of vesting the degree, quantity, nature and extent of the owner’s interest in the real property. The most common form of interest is “fee simple” or “fee” which is the highest type of interest an owner can have in land. Liens, restrictions and interests of others which are being excluded from coverage will be listed numerically as exceptions in the preliminary report. These may be claims by creditors who have liens or liens for payment of taxes or assessments. There may also be recorded restrictions which have been placed in a prior deed or contained in what are termed CC&Rs- covenants, conditions and restrictions. Finally, interests of third parties are not uncommon and may include easements given by a prior owner which limit your use of the property. When you buy property you may not wish to have these claims or restrictions on your property. Instead, you may want to clear the unwanted items prior to purchase. In addition to the limitations noted above, a printed list of standard exceptions and exclusions listing items not covered by your title insurance policy may be attached as an exhibit item to your report. Unlike the numbered exclusions, which are specific to the property you are buying, these are standard exceptions and exclusions appearing in title insurance policies. The review of this section is important, as it sets forth matters which will not be covered under your title insurance policy, but which you may wish to investigate, such as governmental laws or regulations governing building and zoning. Will the Preliminary Report Disclose the Complete Condition of The Title to a Property? No. It is important to note that the preliminary report is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land, but merely report the current ownership and matters that the title company will exclude from coverage if a title insurance policy should later be issued. Is a Preliminary Report the same thing as title insurance? Definitely not. A preliminary report is an offer to insure, it is not a report of a complete history of recorded documents relating to the property. A preliminary report is a statement of terms and conditions of the offer to issue a title insurance policy, not a representation as to the condition of title. These distinctions are important for the following reasons: first, no contract or liability exists until the title insurance policy is issued; second, the title insurance policy is issued to a particular insured person and others cannot claim the benefit of the policy. Can I Be Protected Against Title Risks Prior to The Close of The Real Estate Transaction? Yes, you can. Title companies can protect your interest through the issuance of “binders” and “commitments”. A binder is an agreement to issue insurance giving temporary coverage until such time as a formal policy is issued. A commitment is a title insurer’s contractual obligation to insure title to real property once its stated requirements have been met. Discuss with your title insurer the best means to protect your interests. How Do I Go About Clearing Unwanted Liens and Encumbrances? You will wish to carefully review the preliminary report. Should the title to the property be clouded, you and your agents will work with the seller and the seller’s agents to clear the unwanted liens and encumbrances prior to taking title. Who Can I Turn to For Further Information Regarding Preliminary Reports? Your real estate agent and your attorney, should you choose to use one, will help explain the preliminary report to you. Your escrow and title company can also be helpful sources. The Bottom Line: In a business which is directed at risk elimination, the efforts leading to the production of the preliminary report, which is designed to facilitate the issuance of a policy of title insurance, is perhaps the most important function undertaken.
