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This report
is created for
real property
when an escrow
has been established,
but the transaction
is not finished.
This provides
essential data
about the property
such as the
existence of
any liens or
easements. Eventually
this becomes
the final title
report when
the transaction
is completed,
which title
insurance is
based upon.
The buyer must
agree to the
preliminary
title report
before the transaction
can move forward
- this is why
every detail
contained within
must be reviewed
very carefully.
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