A title report can feel like reading a foreign language if you've never bought property before—but it's one of the most important documents in your transaction. Your escrow officer is there to translate the legal complexities and flag any issues that could derail your deal. Asking the right questions upfront saves you money, stress, and time.
What's Actually in Your Title Report?
Your title report is a detailed history of who has owned the property, what liens or mortgages are attached to it, and whether there are any claims against the title. It typically includes a property description, deed history, current owner information, and a list of exceptions—things that won't be insured by your title policy, like easements or property taxes.
Before you sign anything, ask your escrow officer to walk you through each section. Don't assume "it all looks fine" if you don't understand what you're reading. A title report often runs 5–15 pages and uses legal terminology, but your escrow officer should explain it plainly.
Red Flags Worth Asking About
Some findings in a title report are routine; others can cost you thousands or delay closing. Ask your escrow officer specifically about:
- Liens or judgments – Are there unpaid debts tied to the property? The seller usually pays these off at closing, but you need to confirm it's happening.
- Easements – Do utility companies or neighbors have the right to access parts of the property? This might not be a deal-breaker, but you should know about it.
- HOA liens or assessments – If the property is in a homeowners association, are there outstanding fees or special assessments coming your way?
- Title defects from decades ago – Sometimes old claims resurface. Ask what your title insurance covers and what you're responsible for.
Your escrow officer will typically order title insurance, which protects you against many of these issues after closing. Understand exactly what's covered and what isn't.
Questions to Ask Before Closing
Don't wait until 48 hours before closing to get clarity. Schedule a conversation with your escrow officer at least 7–10 days before the scheduled closing date and ask:
- Is there anything unusual in the title history I should know about? This forces them to flag anything odd proactively.
- What exceptions appear on the title commitment, and why? Each exception should be explained—don't sign off on something you don't understand.
- Are all liens being paid off by the seller at closing, or am I assuming any debt? Get a list in writing.
- What does my title insurance cover? Lender's policies and owner's policies have different coverage. Make sure you know the difference.
- Are there any outstanding property tax bills or homeowners association fees? These get settled at closing, but you need to verify the amounts.
- How long will the closing take, and what happens if the title report isn't cleared before my closing date? Delays happen; knowing the timeline matters.
Comparing Escrow Services
When you're shopping for a title and escrow company, Mercoly makes it easy to compare trusted providers in your area. Look for companies that clearly explain their process, respond quickly to questions, and have transparent pricing. Title insurance rates are regulated by state, so you won't save money by choosing a cheaper provider—you'll save it by choosing one that catches problems early.
Ask potential escrow officers about their average closing timelines and how they handle title issues. Companies that flag problems in the first week, not the last day, are worth their weight.
Don't Overlook the Final Walkthrough
Even after the title report clears, ask your escrow officer whether you should do a final walkthrough of the property before closing to make sure nothing has changed and the seller has removed agreed-upon items. Your escrow officer can confirm whether this is standard practice in your area and whether it affects your closing date.
Frequently Asked Questions
Q: How much does a title report and title insurance typically cost? A: Title insurance premiums are set by state regulations and usually range from $500–$2,000 depending on the property value; the title report itself costs $200–$500 and is often bundled into closing costs, so you're not paying extra for the escrow officer to order and explain it.
Q: What's the difference between a title report and a title commitment? A: A title report is an initial search showing the property's history and current liens; a title commitment is the formal promise from the title insurance company that they'll insure the property once those exceptions are cleared.
Q: Can I close if the title report isn't completely clear? A: Most lenders won't fund a loan until the title is clear, but minor issues like old liens being paid off by the seller at closing typically don't delay the process—your escrow officer will coordinate the payoff directly.
Start asking questions today—find a trusted escrow provider in your area on Mercoly and get a clear, straight answer before your closing date.