We just received the Title Commitment on a property. What are the important things we should be looking for?
Just that it be unqualified. You need the insurance that you are actually buying the property, and not only buying half of it, because of a divorce, or some other legal event or contract that would prevent the seller from conveying full/clear title to you.
Ultimately if you have a bank backing you, they will be expert in these matters, and as long as the title commitment is good enough for a bank, it is good enough for you.