Legal Question in Real Estate Law in Georgia

Re: Title search

Yes, you CAN do it but you do not know HOW to do it based on your questions. Trying to save $4-500 on a $20,000 transaction is not wise.

Re: Title search

The buyer has more to lose than you, so they may require a little more than the title search. They may need a termite letter, survey, etc..

When you say you "inherited" the house, did you receive it under a Will or from an intestate estate? Bottom line is that title must be vested in you and not the estate when the title examiner completes the search. The laws changed somewhat in the late 90's so generally you should always go through the probate court when real estate is involved. Usually, also, the buyer in an estate will want owner's title insurance to protect their investment. This will protect them from any issues involving the title, liens, or boundaries on the land. The buyer will not want a quit claim deed, this does not warrant that the seller owns marketable title. Since the buyer has the most to lose, I suggest that she retain a real estate attorney and pay the closing costs. If it turns out that you do not own marketable title after the search you would need to reimburse her for all the title costs. First thing is the contract--that's where all these things are addressed and are answered. Who pays for what and when? What does the buyer get (property as-is, improvements, etc.)? As the seller you want to make sure things are right too. Have all the estate taxes be paid? Any tax liens, mechanics liens, etc. that should be addressed? A good real estate attorney has an Errors and Omissions policy that will cover any mistakes. Without using an attorney, any mistakes may come out of your pocket.

Re: Title search

As an attorney experienced in real estate closings and review of title, I can tell you that this is not a do it yourself area of the law. Typically, the purchaser pays for the attorney and title exam. If she is unwilling to do that a good closing attorney can explain the reasons that she should reconsider to her.