Taos Real Estate

One of the important documents delivered to the Buyer in a Taos real estate transaction is the title insurance binder. The title insurance company does a preliminary search on the property and examines the chain of title. They then issue a title insurance binder, binding them to issue a title policy if certain requirements are met.

However, this document is a dynamic one. The surveyor uses it to get their process going, then does the survey or Improvement Location Report. Based on this document, there could be revisions to the title binder, and a Revised Title Binder issued. This sometimes happens when there has been an additional structure placed on the property that shows in the new survey. There are other things that come up during the transaction that can require changes to the binder, so revised binders are common, and usually no cause for alarm.

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