You will be asked to ll out an Identity Statement that
enables our title department to distinguish you from others
with identical names during our search of County records.
It also provides basic information that will be useful to your
Unless you are paying cash, assuming a loan, or the seller is
nancing, you will need to apply for a home loan if you have
not already done so. Apply as soon as possible to comply
with the purchase contract and prior to insuring to avoid
delaying the closing.
RESPONSE TO SELLER’S NOTICES
If directed by the contract, you may receive the following
items which require a response from you:
Seller’s property disclosure statement listing any
existing problems known to the seller
Information pertaining to the Homeowners Association
(HOA) or Planned Unit Development (PUD), such as
Covenants, Conditions and Restrictions (CC&Rs),
Flood hazard disclosure if the real property is in a
Independent inspections, such as termite and septic,
and any repairs as required
You will receive a copy of the preliminary report when we
complete the title search. If you have questions about the
preliminary report, contact your real estate agent or your
One escrow transaction could involve over 20 individuals,
including real estate professionals, Buyer, Seller, attorney,
escrow ofcer, escrow tecÚician, title ofcer, loan ofcer,
loan processor, loan underwriter, home inspector, termite
inspector, insurance agent, home warranty representative,
contractor, roofer, plumber, pool service, and so on. And
often one transaction depends on another.
When you consider the number of people involved, you can
imagine the opportunities for delays and mishaps. While
your experienced real estate professional, escrow, and title
team can’t prevent unforeseen problems from arising, they
can help to ensure as smooth a closing as possible.
What happens next for the Buyer?
The information below is to help you understand the
contents of the preliminary report you will receive
from First American.
This is the information submitted to our title
department by the escrow ofcer. It contains the basic
information given to us by the Buyer or real estate
professional, such as the legal description of the real
property, sale price, loan amount, lender, name, and
marital status of Buyer and Seller.
The schedule B “exceptions” are items which are
tied to the subject property, and the Buyer's rights
in the title will be subject to these exceptions. These
may include Covenants, Conditions, and Restrictions
(CC&Rs); easements; Homeowners Association by-laws;
leases; and other items which will remain of record and
transfer with the property. The Buyer is asked to sign a
receipt for the schedule B documents which states the
Buyer has read and accepts the contents.
These are items that First American needs to delete
and/or record prior to insuring title to the real property.
Items that need to be addressed include:
Current property-tax status
Any assessments that are owed, such as those for a
Any encumbrances (or liens) on the real property
Sometimes items show up against a parcel of real
property because another person has a name similar
to an involved party. This is one reason we ask for an
Identity Statement, to determine if items are inaccurate
and can be deleted.
Your Preliminary Report