When you are buying a home, there is a lot going on between getting your offer accepted and closing. Not only do you need to prepare financing for the property (and work with a lending institution if you are applying for a mortgage), but you must also work with a title company to ensure the home’s title is clear and the seller has the legal right to sell you the home. This is what a title search in Florida is for.
While many of these steps happen congruently, understanding the timeline is important for planning and ensuring everything will be complete prior to your closing date.
How Long Does a Title Search Take?
Once your offer on a new home has been accepted, your title company will get to work right away preparing closing documents. This is also when the title search will take place.
The length of time it takes for a title search in Florida will depend on several factors. These include
- The age of the home – older homes may take longer because they may have more transaction history.
- The amount and availability of documents – more documents mean it takes more time to review.
- The presence of any title issues – If unresolved liens or other title issues surface during the title search, this can lengthen the amount of time it takes to conduct and complete the title search.
Generally, title searches can be completed in fewer than two weeks. Frequently searches are completed more quickly than that. Your title company will keep you informed of the timeline specific to your property.
Title searches are an important part of real estate transactions because they reveal if there are any claims, defects, or other rights or burdens already on the property. You can read more here about what happens during a title search and how much a title search costs.
As you prepare to close on a new property in South Florida, please get in touch with our team at ADS Title Services to learn more about title searches, title insurance, and the real estate closing process in Miami.