"... type out the property description for the commitment on on their site after uploading the title search and copies ..."
A Keep It Simply Sweetheart reason: The mortgage deed legal description is being returned with a big RED "received illegible" in all caps or similar text rubber stamped on the metes and bounds legal description page. The copy of the photocopy attached to the recorded mortgage deed used as a legal description has been cut, pasted, reduced and reproduced so many times it is difficult or impossible to read every character and number either before or after scanning for the Land Records.
Depending on your state, title requirements and what is included in the rest of the deed ( i.e., keyed in street address, parcel identification, volume & page description was taken from, etc.), this illegible metes & bounds may not be a big deal. Just means that somewhere down the road when the property is motgaged again (using a bringdown from an existing mortgage rather than a full search) someone may have to ask a secretary to type the metes & bounds based on a prior easier to read description, which will require finding the "legible" description on the Land Records. See this a lot because in this fast-paced real estate world cut-and-paste is less time-consuming and more "exact" than re-type, proofread, re-type corrections, proofread again .... recipient then re-reads and proofreads to confirm newly typed metes and bounds matches title search. (As we all know, NOT including a correct legal description, particularly when you are the entity that prepared the "re-typed" description, leads to lawsuits and other problems.)
KISS: Lender should PAY for a title search that includes enough research to go back in time to at least a legible legal description, even if it means having a person present in the U.S. to physically go to the Land Records.
to post a reply:
login - or -
register