A preliminary title report is issued before an actual title policy and is designed to assist in the issuance of a final title policy by detailing the conditions involved. Once an offer is accepted escrow will be opened and a title search is done and matters relevant to coverage for that property are assembled in a report. The preliminary report is then sent to the applicant and contains a list of those matters which will be exempt from coverage in that specific policy for that particular estate. This information encompasses exceptions, liens, encumbrances and other such risk factors. Click link below to view a handy flyer created by the business department of Placer Title Company:
READING A PRELIMINARY TITLE REPORT
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