Buying a home is a very exciting moment in one’s life, but unless you are the first owner of your home, you are exposed to certain risks when trying to purchase a property. Ideally, the seller has a “clear title” on the property, meaning there are no other claims of ownership against the property. It’s recommended that you purchase title insurance in case title defects arise in the future. Continue reading “Facts You Should Know About Title Insurance”
Having a clear title is essential 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. Continue reading “A Refresher Course on Titles”
A survey is not always required to close on a property but is useful for showing some important information, such as the exact location of the property, where it begins and ends and how it relates to properties around it. It will also disclose zoning, setbacks, distances, north orientation, easements, boundaries, possible encroachments and environmental issues. Additionally, the survey will show any improvements that have been made to the property, such as a fence or a shed. Continue reading “Why You May Need a Property Survey”
According to the Real Estate Settlement Procedures Act, you have a right to choose your own title company. You should still ask your real estate agent for recommendations, but it’s ultimately your choice which title company will represent you in your home-buying transaction. Selecting your own title company will ensure you have someone working for you who will work in your best interest and doesn’t stand to gain from the transaction. Continue reading “Questions to Ask Before Choosing a Title Company”
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.Continue reading “Why You Need Title Insurance”
You’re paying cash for your new home. That’s great! You are not bound by the requirements set by many lenders such as having title insurance, but the reason lenders require title insurance is to protect their interests. It would be wise to follow that thinking and protect your investment as well.Continue reading “Why You Need Title Insurance Even if You Are Paying With Cash”
You’ve spent hours researching homes online and viewing properties, and you’ve finally found the perfect home, or you’ve spent thousands of dollars fixing up your house to get it ready to sell and held multiple open houses. Finally, an offer has been made and accepted. Time to celebrate, right? Not so fast. Several things can and do go wrong between the time the offer is accepted and closing.Continue reading “How To Prevent Your Pending Home Sale From Falling Through”
Buying a home is one of the biggest investments most people will make in their lifetimes. Protecting your home with title insurance is a small investment by comparison, but it can save you big in the long run. We insure our health, our lives, our cars, our homes, our businesses and our belongings. Most insurance policies protect you from things that will happen in the future, but title insurance works differently. This insurance protects you from things that happened under previous ownership of the property that don’t come to light until you own the property. We will break down why we believe title insurance is always worth the cost, because like most insurances, when you need it you really need it.Continue reading “Is Title Insurance Worth the Cost?”
One of the most common problems that pops up after you purchase a property is an easement. Sometimes easements are discovered during a title search, and other times there is no written record of the easement at all. Even if there is no paper trail of an easement, it could still be legally binding and may cause issues with the enjoyment of your property. Learn all about easements so you understand the potential issue they can cause with your title.Continue reading “All About Easements”
In order to purchase or sell a home, the title on that home must be clear. This means that nobody has a claim on the property except the seller.
Continue reading “Potential Title Issues”
Most title issues are discovered during the settlement process, but some may not arise until after you’ve gone to closing. If a title issue is discovered during the settlement process, it will hold up the sale until it’s resolved. If the problem arises after closing, that’s when title insurance comes in handy to help resolve the issue. Here are some of the more common title issues you can come across.