Escrow & Title
In Oregon, what is a 'preliminary title report' (also called a 'commitment for title insurance')?
AA guarantee that all liens have been removed
BA report showing current encumbrances, exceptions, and conditions under which a title insurer will issue a policy✓ Correct
CAn appraisal of the property's current market value
DA government record of property boundaries
Explanation
A preliminary title report (title commitment) is issued by the title company before closing. It shows the current status of title, including recorded liens, easements, CC&Rs, and other exceptions. The buyer's agent should review it carefully with the buyer to identify any issues that need to be resolved before closing.
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