Good news! Your residential loan application was accepted. The paperwork has proceeded forward to ordering the title commitment. For this part of the project, you will be reviewing the title commitment for the property you are going to purchase. Even if your state does not have an active title insurance industry, you will be completing this part of the project as though it does.
Click here to download a fictitious title commitment for your piece of property. Review the title commitment and in a memo, compile a list of any information that you think might be negative. Also, explain a possible solution, if any, to the negative information.