Final answer:
Reviewing a preliminary title report involves comparing it with escrow instructions, verifying customer's instructions, and getting the buyer's approval. It is crucial for all involved parties to agree on the accuracy and completeness of the report.
Step-by-step explanation:
Upon receipt of a preliminary title report, the necessary actions include comparing and verifying the details of the report with the escrow instructions and the buyer's requirements. One must check if against the escrow instructions to ensure that the terms agreed upon are being followed and that there are no discrepancies in the title that could affect the buyer's use and ownership of the property. Verifying the customer's instructions is equally important to ensure that their expectations and conditions are met in the transaction.
Additionally, it's customary to obtain the buyer's approval of the report to confirm that they are informed about any potential issues or liens associated with the property. Paying all taxes due at this stage is not typically associated with reviewing a preliminary title report, as it is more related to the closing process of a real estate transaction.