Final answer:
The statement is true; a title search includes looking for non-title issues like work orders, deficiency notices, zoning, and insurance, and is a key component of the due diligence process prior to finalizing a real estate transaction.
Step-by-step explanation:
The statement about a title search being performed by the buyer's lawyer, which includes looking for non-title issues such as work orders, deficiency notices, zoning, insurance, etc., is true. A title search is a crucial step in the real estate transaction process, carried out before the completion of a property exchange. This search assesses the legal viability of the property's title, identifying any potential legal or financial issues that may affect the property transaction. Title searches are not limited to just the property's title itself; they also involve checking for any issues that might impact ownership rights or bring liabilities to the new owner. These non-title searches might include inspections for outstanding work orders, deficiency notices that may indicate unresolved property issues, zoning compliance ensuring the property meets local land use laws, and confirmation of proper insurance coverage on the property. While a thorough title search helps to ensure that the buyer is receiving a clear title to the property, it is also important for identifying potential issues that could affect the buyer's ability to enjoy and use their new property as intended.