Understanding Preliminary Title Reports Alexandria VA

When preparing to purchase a home, title insurance becomes a major priority. Before issuing your title insurance, the title company will first issue you a Preliminary Report.

Craig Eric Buck
(703) 921-0809
6088 D Franconia Rd
Alexandria, VA
Specialties
Estate Planning, Business, Real Estate
Education
College of William and Mary, Marshall-Wythe School of Law,University of Virginia
State Licensing
Virginia

James C Brincefield Jr.
(703) 836-2880
526 King Street #423
Alexandria, VA
Specialties
Real Estate, Business, Family
State Licensing
DC

Michael William Tompkins
(703) 836-2880
526 King Street, Suite 423
Alexandria, VA
Specialties
Litigation, Real Estate, Wills, Computer Fraud
Education
College of William and Mary, Marshall-Wythe School of Law,Virginia Polytechnic Institute and State U
State Licensing
Virginia

Andrew F Palmieri
(703) 837-6976
277 South Wash. Street #310
Alexandria, VA
Specialties
Real Estate, Intellectual Property, Antitrust
State Licensing
DC

Todd Lewis
(202) 550-9898
1521 KING ST
ALEXANDRIA, VA
Specialties
Bankruptcy, Foreclosure, Landlord & Tenant, Litigation
Education
University of Buffalo,University of Buffalo,The Ohio State University
State Licensing
DC, Florida, Maryland, Virginia

Janie Lewis Rhoads
(804) 344-1504
112 South Alfred Street
Alexandria, VA
Specialties
Real Estate, Commercial, Residential
State Licensing
Virginia

Robert C. T. Reed
(703) 684-2000
510 KING ST STE 301
ALEXANDRIA, VA
Specialties
Debt Collection, Landlord & Tenant, Litigation, Real Estate, Bankruptcy
Education
Washington and Lee University School of Law
Boston College
State Licensing
Virginia

Malcolm M. Mitchell Jr.
(703) 837-6970
Suite 310, 277 South Washington Street
Alexandria, VA
Specialties
Real Estate, Commercial, Litigation
State Licensing
Virginia

Lonnie C Rich
(703) 299-3440
201 N. Union Street, Suite 140
Alexandria, VA
Specialties
Real Estate, Estate Planning, Civil Rights
State Licensing
DC

Lucia Anna Trigiani
(804) 344-1504
112 South Alfred Street
Alexandria, VA
Specialties
Real Estate, Administrative Law, Licensing
State Licensing
Virginia

Understanding Preliminary Title Reports

Provided by: 

  • Report created by Title Company prior to issuing of title insurance
  • Work on a Preliminary Report begins just after escrow opens
  • IS NOT title insurance, just a report
  • Title Companies can still protect your interests through “binders” and “commitments” prior to the closing of the transaction
  • Look for the extent of your ownership rights on the Report
  • Includes a listing liens and encumbrances that won’t be covered
  • Liens and encumbrances that are covered will not be on the Report
  • Work with the seller and seller’s agent to clear liens prior to purchase

    When preparing to purchase a home, title insurance becomes a major priority. Before issuing your title insurance, the title company will first issue you a Preliminary Report. A Preliminary Report is a means to protect the buyer from any unforeseen costs or liabilities associated with the property in question. Work on this report can begin as soon as escrow opens. The title company will seek out all documents related to the property in order to figure out what restrictions they will place on your coverage.

    It is important to remember that a Preliminary Report offers no insurance coverage. It is only a report with terms and conditions for a title insurance policy. There is no contract or liability for the title company until the actual insurance policy is issued. The title insurance policy is issued to an individual and others cannot claim its benefits.

    You can still protect your interests prior to issuance of your title insurance policy through “binders” and “commitments” issued by your title company. Binders give temporary coverage until the actual policy is issued; commitments are the contractual obligations of the title company to insure your property once you have met their stated requirements.

    When viewing a Preliminary Report, there are some important things to look for. First among these is a listing of title defects, liens and encumbrances which will not be covered by the insurance policy issued by the title company as of the date of the issuance of the Preliminary Report. These are listed in a numbered list under the heading “Exceptions” on the Preliminary Report. Exceptions can be any number of things, from creditors who have liens for unpaid taxes or assessments, to restrictions contained in the covenants, conditions, and restrictions of the property (CC&Rs), to third party limitations on property usage. This listing gives you the opportunity to discuss these issues with the title company and the seller prior to purchase, allowing you to possibly clear them from the property.
    Second, look for information on your ownership rights. This includes your personal ownership interest in the property, in addition to any claims, restrictions, or interests of other people in the property. There will be a statement of vesting telling the degree, quantity, nature, and extent of the owner’s interest in the property. The highest type of interest, and also the most common, is “fee simple” or just plain “fee.”
    Usually included is a list of standard exceptions and exclusions for the title company. Your property is not necessarily affected by any of these exceptions, but they give you important information for coverage on future usage of your property that may or may not be covered by your title insurance.
    Keep in mind that the Preliminary Report only includes liens, defects, and encumbrances affecting the title insurance policy. The property may have other issues which will affect your title to the land that are not listing on the Report.
    For more information regarding Preliminary Reports, talk to your real estate agent or your attorney. Also helpful are your escrow and title companies.

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