Things to know about a Title Report Annette Bui| Updated March 7, 2019 | Mortgage Programs 101 Most homeowners are focused on securing the best rate or getting a good appraised value when buying a home. A very important aspect of the home buying process that may impact the closing time frame is what is shown on a title report. Oftentimes when buying a condominium, the lender will need to get the homeowner’s insurance binder. Depending on the community, this duration may take as long as 5-7 business days. Things to keep in mind to understand how a title report may affect you. Legal description-the legal description gives you more detailed information on the property that is not shown in the original listing advertisement. It is a written detail of property boundaries, any inclusion of property’s interest in common areas, easements and or any parking that is included. If it is a condominium, you will get information on any non-exclusive or exclusive easements. Taxes-R...
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