When my wife and I purchased a new home two years ago, we went through all of the necessary steps to finalize the transaction. We had the house inspected, we got our financing approved and we also had a title search done. The title search traced the records of the title back as far as it could to make sure that nothing unusual or out of place came up. Our real estate agent also suggested getting an Owner’s Title Insurance Policy to protect us against anything that didn’t turn up in the search. If there are any liens or obligations associated with the title that are found later, this policy protects us.