Who typically requires a title report?

The typical requirement for a title report comes from buyers and lenders of real estate. A title report is a crucial document that provides information about the property's title status, including any liens, encumbrances, or ownership disputes that may affect the property. Buyers seek a title report to ensure they are purchasing a property with a clear title, free from legal issues that could impact their ownership rights.

Similarly, lenders require a title report as part of the mortgage process. They want to confirm that the title is clear before they invest in the property. A clear title reduces the risk for lenders, ensuring that their financial interests are safeguarded against unforeseen claims or issues that may arise post-purchase.

While sellers, property appraisers, and local zoning boards have interests in the property, they do not typically require a title report in the same way buyers and lenders do. Sellers may be aware of title issues and often provide disclosures, but they are not the primary parties necessitating a title report. Property appraisers assess property value but do not require the title report for valuation purposes. Local zoning boards deal with land use regulations and zoning compliance rather than title issues directly. This underscores the importance of the title report for buyers and lenders in the real estate transaction process.