What is the difference between a lien search and a title report, and who orders it?
For coop purchases, the lien search is required to determine if there are any judgments or liens against you, the seller or the co-op building. All judgments or liens have to be removed prior to closing. For condo purchases, the title report serves the same function and insures that the purchaser will receive clean and marketable title to the apartment. The lien search or title report is ordered by your attorney after contract is signed.
