Purchasing a horse property is usually even more complicated than buying a simple residence. The larger and more featured the property, the more opportunities there are for serious mistakes that could haunt you years later. Read on to learn why using a real estate title service is vital when you purchase an equestrian property to help you avoid these costly and devastating errors.
Typical Title Searches
A title search should be conducted before you purchase any piece of property. At its most basic, a title search tells you that the seller has the right to put the property up for sale and transfer ownership to you or any other buyer. Things title searches typically look for include
Title Search Issues Specific to Equestrian Properties
While a real estate title company should look at all of the above when it comes to an equestrian property you are considering buying, there are additional issues that are particularly important. Common problems that surface during a title search are questions about survey lines and easements.
Surveys that are a little off can be a huge headache for homeowners, whose garage might fall a foot or two onto a neighbor's yard, for example. Now, think about how big horse properties usually are and how damaging it could be to discover a boundary mistake, especially if you plan to use the land for commercial equine purposes.
Survey problems can cause aggravating and costly problems with
You don't want to have to move an entire barn or re-fence your land, for example, because an inadequate title search never caught a survey problem or because the search was never done in the first place.
Easements can allow other parties to use your land or for you to use theirs, including private roads. This is common in rural areas for things like municipal vehicle travel or access to remote properties.You want to be sure when you purchase a horse property that you can reach all your facilities and that no one is coming through your property unless you want them to.
The best way to protect the title to your property, once you have had a search done, is to purchase title insurance. This insurance will cover the legal costs if someone claims they have a right to all or part of your property that was previously deemed "clean" by your title search.
A real estate title services company can perform a title search for you and offer title insurance. Ideally, you want to find a company that has worked with equestrian properties before, so they will be familiar with the complexities of this type of transaction. Once you find a title services company you can rely on, you will have the peace of mind that comes with knowing that neither your land nor even your livelihood are at risk for future problems.
Once you sign the sale contract with your listing agent, there's a good chance that things will start moving quickly. Your agent will want you to stage your home for the listing photos, open houses, and showings. If you've never experienced the staging process, you may not know exactly what to do or where to start. The information on this site will help you to not only understand what's expected of staging but also offer tips for you to maximize your efforts without investing a lot of time. I hope the information here makes your home sale process a little bit less confusing and a little easier to manage.