Due diligence may vary from state to state and many jurisdictions have some unique laws that may affect the real estate transactions and this is why a property buyer be aware of municipal liens and the super-priority of super liens. Hence, it is highly recommended to perform a municipal lien search when you are thinking about buying a property anywhere across the globe.
What is a municipal lien search?
The
municipal lien search is conducted with the county or the city finance
department to determine whether there exist any unrecorded special assessment
lien, and unrecorded agreements that impact other development fees, amount due,
and unpaid fees payable to the county or municipality as a result of code
violations that are associated with residential or commercial real estate.
How municipal lien searches act of utmost importance?
A municipal lien search
ensures home buyers and real estate investors that they won’t find themselves
trapped with any foreseen debts. This search can even look for unrecorded
property issues that cannot be found by the traditional title searches. Failure
to catch these problems early with municipal lien search means that the buyer
would be responsible for resolving all those pending items like that of
outstanding fees or brining a property into compliance which will be time-consuming
and very costly.
What is included in a municipal lien search?
A municipal lien search will serve the attorneys, title
agents, and the realtors with unrecorded and municipal lien search for all the
cities and counties. Our team of experts conducts extensive searches in order
to identify the issues prior to closing to ensure the property buyers. With the
municipal lien search, all the below reports will be received.
ü Real state property
taxes
ü Special assessments
ü Building Code violations
and liens
ü Open permit/expired
permit
ü Code enforcement
violations
ü Water utility balances
ü Sewer utility balances
ü Solid waste utility
balances
ü Stormwater utility balances
ü Unrecorded county and municipal debts
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