Risk is involved in any business you are in, even if you aren’t in business, and just have a job, there is risk. The risk in a job are potential pay cuts and possibly getting laid off or fired. But in real estate, there are some quite heavy risks.
Stephen Collins gives us some insight into one of those ever present potential risks of real estate, that of problems with real estate title. Otherwise known as title risk, this is the potential that there are previous liens, or perhaps recording errors, that could be challenged at any point in the future. You might end up in a fight with the local sewage treatment plant for possession of your property (according to Stephen).
So double check the title beforehand, and after you purchase the property and the new title gets filed. It’s just a suggestion, but it could clear up some very costly future problems ahead of time if you do it…
Stephen has more on this here.