I want to buy a small plot of raw land in Oregon. The seller has a clear title, certified by an Oregon-certified title search company. Do I need to do my own title search, or can I do ahead with the transaction as it stands?
Answer
When you purchase the property, you should buy title insurance. It is very inexpensive, it provides coverage, and the title company delivers to you (before the date of the sale) a title report as part of its service. Upon reviewing the title report, if there are any problems with title, you can typically back out of the sale -- so long as you and the seller have entered into the standard written real estate agreement.
Lawrence M. Vergun
The Vergun Law Firm
7455 SW Bridgeport Road, Suite 220
Portland, OR 97224
Telephone: (503) 746-7859
Email: [email protected]/* */
Website: www.VergunLaw.com
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