Morristown TN Real Estate For Sale - Understanding Preliminary Reports#2
By Norma J. Elkins, Realtor - Elkins Home Selling Team
( Elite Realty Group)
Understanding Preliminary ReportsAfter 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 i...
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