We’ve said this before, but it’s so important that it bears repeating. You need to invest in title insurance, (even if you’re paying with cash). Ideally, when you close on a property, the title transfers from one owner to another, and everyone lives happily ever after; but that’s not always the case. That’s why title insurance is a good investment. Read on to find out what it is and why you need it.
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Despite the pandemic, the real estate business is booming. The numbers are up from last year in almost every category. In general, more homes are being sold while the inventory remains low compared to years past. Below are statistics from the last two months to give you an idea of what the market is like in our area right now.
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Having a clear title is important to any real estate transaction, even if you are paying cash. When you have the title to a piece of property, it means you have the right to own and use that piece of property. The title also includes the legal documents that define the property’s boundary lines and how it’s allowed to be used. However, in order to get the title to the property you want, you’ll need the help of a good title company. Where should you start and what should you keep an eye out for?
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Before you take ownership of a new home, it’s important to obtain title insurance. Most lenders require that you purchase title insurance to protect their investment. It also protects you if any issues come up with the title, such as liens or unpaid taxes.
Choosing a title company is one of the more critical decisions you will make when buying a home. The title company is crucial in every stage of a real estate purchase from the title search to the closing process. The title company is also responsible for securing your funds, so you will want to ask these very important questions of the companies you are considering.
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As a title company, it’s our job to do a deep search on your property to make sure everything is good to go on closing day. In an effort to clear the title of your property, one of the pieces of the puzzle is to search your name and see if there any persons with similar names who may have liens on judgements against them. The procedure to acquire this information is known as a Statement of Information.
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When it comes to real estate, many of us know that having a real estate agent on your side is needed if you’re planning to sell your home or buy a new home. You probably also know that you need a mortgage company. You may, however, have questions about the role a title company has in a real estate transaction. Here is a list of the most common questions we get asked and the answers to those questions.
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Despite the current pandemic, people are still buying and selling homes, although, we have seen a drop in sales up to about 20%. The good news is that rates continue to be low and many people are refinancing their homes. The industry has adapted to dealing with the current environment and coming up with strategies to keep working.
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There are many things to think about when buying a home. You probably already know about the importance of completing a home inspection to make sure the home’s structure and systems are sound. Similarly, a home appraisal is important as well, because it will determine the value of the home you’re thinking of buying. Another item that should be on your home-buying to-do list is a property survey.
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The 2019 real estate market was marked by low mortgage rates, resulting in a refinancing boom and low inventory of affordable start-up homes. It’s looking like 2020 will bring more of the same, plus some new trends.
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You’ve finally found your dream home and closing day is approaching. There’s a long list of things that could go wrong before that day arrives, but if you’re prepared, everything should go smoothly. Follow this closing day checklist beforehand, and you will have the keys to your new home by the end of the day.
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