Jeff Pearl here in my hood( CA), buyer rarely chooses a title and escrow. Also, prelim is usually complementary, I use the same title rep for years. When we open escrow, and all docs are signed, escrow is ordering  again the title search.

We often order a prelim as soon as we take the listing. Finding any issues with the property early will help us to address and resolve them before it is too late.

As a listing agent I do order title work as soon as the property goes on the market. It would be devistating to wait until you received an offer and had no time to get things fixed if need be.  In my market the title company does not charge if the property does not sell.

In CA, I always order a Preliminary Title report and there is no cost to the Seller.  I would rather have this upfront in order to not delay closing in case there are issues.  Of course escow will have the title report updated if needed.  The more information we know about our lisitngs, the better for the Buyer, Seller, Lender and a timely close with mimimal or no glitches. 

No.

This is really, really smart. I have a $480,000 homeowner whose sale has been delayed by: Incorrect survey of neighbors lot, easily fixed, and now a 32 cent label missing from the garage door has halted the sale. Buyer is in hotel. Seller is in limbo. Local government has gone absolutely nuts and guess what. now it's a no work day until Monday afternoon.

I title search COULD have found these issues. However, the lender is often the driver, and they can be as nuts as the local government.

Although in my situation, I believe it would have been a great idea, it does not GUARANTEE a bump free ride no more so than a pre-inspection.

It's provided free here by Title Companies so we do order it...

We order the title search right away. We always do. Sometimes the seller does not remember something and knowing ahead does help to resolve all issues sooner. 

Welll this varies so much from state to state. You Would be best to check with title in your area,. 

It could be a help to head off a closing delay if there is a title problem that needs extra time to clear up. I think it is a good service to offer. We have title companies in our area that are offering to do it free with no guarantees they will get the real order.

I think it's crucial to get a prelist prelim so that you know what potential problems could pop up in the escrow. I admit that I had to learn the hard way and worked on a listing to get it ready for 2 months before we listed and found a buyer. Problem was a mechanic's lien on the prelim that had I ordered in advance, I would have known about and it would have saved us all some time and frustration.

Brigita,

In commercial real estate we always asked for a Preliminary Title report to  assure ourselves that the property was truly held by the seller.  

But what if the buyer wants to use a differne ttitle company? They'll most likely want to do their own title search. A seller can do it if they suspect a lien or glitch in title, or if there was a divorce or death in family.

In my opinion it is a bad idea because that allows more time for liens/unknown things to attach to the property.  There are also buyers and lenders that will work only with certain title companies.

I just don't know what to say!

Hi Brigita -- as part of the pre-marketing of a listing, the preliminary title report, any inspections and all disclosures are completed by the seller so a package can be presented to buyers prior to submitting an offer.  

Everything in real estate is negotiable but I have yet to have an issue with a seller's choice of title company.  We also know that real estate is all about local traditions and customs.   

I like the idea of the buyer getting their own title search . 

I wouldn't suggest it unless I thought there was going to be a problem. 

Brigita McKelvie well, sellers can do their own homework to make sure the title is fine. The lender/buyer should do their diligence.

The agent's claim may be valid if the buyer decides to use the same title company.

Just an FYI - MA is an attorny state.

In Texas resale properties, the seller usually pays for the title policy so I think it's a great idea, especially if they "think" there might be a little problem.

The buyer pays the cost of the title search....it's part of the buyers closing costs....

I will often times have title run a pre-lm title for me when I take the listing and I mention it in the agent comments.  Buyers right to choose title but still good information for me to have, before we list.  Last one came back with some IRS leans I was not aware of, and can plan accordingly when we get an offer.

I don't know that it speeds anything up, but it does provide information to seller and agent if there are any title issues long before home is sold (which could be a good thing, as you don't want nasty surprised after contract.)