What exactly is escrow? Here’s a Definition. The basics of escrow are fairly simple. By definition, escrow is a term that describes the neutral third-party handling of funds, documents, and tasks specific to a settlement. Initially, the real estate purchase agreement or sale contract outlines this party. Escrow funds are held until conditions have been met per the sales agreement. Starting Off: The Key Players
Protecting New Home Construction Yes! New homes need title protection! Title insurance is recommended for a newly constructed home even though the home itself has no title history. Because your new home was built on unimproved land, there may have been many prior owners of the property and with those prior ownerships comes the uncertainty of a clear chain of title. Additionally, obligations to contractors
Introduction We understand that keeping you informed is an essential part of the closing process. A title commitment is an important document that contains information specific to your transaction. So, let’s go over title commitment basics! This is an important document. We’ve outlined the basic sections of a title commitment below. Watch and Learn! Basic 1: Schedule A- Who’s Involved and What it Costs This
Let’s Get Started! Watch this video to learn about 5 Reasons Why You Need Title Insurance! Title insurance is a vital part of a home purchase. The purchase of a new home is a HUGE investment, and you want to protect it, right? Title insurance can help do that. The American Land Title Association provided this video to help you educate yourself. An owner’s policy
Make sure all of your clients are protected You’re a realtor, so you know buying a home can be overwhelming. Homebuyers can easily feel confused and frustrated by the mounds of paperwork they have to sign. Plus, all the fees associated with closing can sometimes be a surprise even to an experienced buyer. Title insurance one way to prevent certain surprises. A realtor needs to