What information is typically included in a Preliminary Title Report?

The correct answer is that a Preliminary Title Report typically includes a report on the condition of title prior to a transaction. This document serves to identify the ownership of the property, any existing liens or encumbrances, and other critical information that can affect the transaction. It allows potential buyers and their agents to assess any risks associated with the title, ensuring that the property can be transferred without unforeseen legal issues.

The information in the report is vital for both the buyer and the seller as it clarifies any claims or rights that could hinder the sale. By reviewing the Preliminary Title Report, individuals involved in the transaction can make informed decisions and address any problems before closing.

Other options, such as a summary of neighborhood property values, a market analysis for the property, or a buyer’s financial qualifications, are not typically included in a Preliminary Title Report. Those documents pertain to different aspects of the real estate process, focusing more on market conditions and the buyer's ability to purchase, rather than the specific details of the property's title itself.