![]() | |
![]() | |
![]() |
Real Estate Information |
|
![]() |
Title Insurance - Examples of Problems and Advice
What is title insurance and why should any buyer get it when purchasing a home (single family, townhouse, condo, apartment, or whatever format your home purchase takes)? Doesn't the attorney or settlement company handling the closing see to it that you have a clear title? Isn't this just another way for someone to siphon a few coins off a real estate transaction? Title Insurance Title insurance prevents the property owner from suffering financial loss if, at any time during his ownership of the property, someone comes along who can show that they have full, or partial, ownership of the property instead. Every mortgage lender I'm aware of requires title insurance be purchased to cover the amount of the mortgage. They're not in business to lose money. A careful title search is done at the time property changes hands. On rare occasions mistakes are made anyway. Property can change hands in a number of ways including by deed, by will and by court action. Typically, these proceedings are recorded in different places. Searching the history of ownership to be sure nothing has fallen through the cracks is a tedious job that requires alertness, intelligence, and skill. Mistakes can happen. Fortunately they don't occur very often, but they do happen. A mistake of this kind happened a few years ago to some elderly friends of mine who owned a 136 acre parcel of farmland in Stafford County, Virginia. It had been the home place, the family farm. The family had 10 children who inherited it on the death of their parents. After they became adults, one child, a daughter, bought out the interests of each of her siblings. At her death, the property was conveyed by will to her three sons. One of her sons had died without a will which resulted in his widow and their 3 children gaining ownership of his one third interest per state law. My friend is the widow. She and her brothers-in-law wanted to sell the property. The area had begun to develop and each of the three of them had significant health problems, so they decided an influx of cash would be welcome. The property was master planned, but not yet zoned, for multi-family use. Being subject to a rezoning complicated the sale, but the price reflected the change in use. When the title work was done, it was discovered that the heir of one of the 10 children was still shown as a ten percent owner of the property. Neither my friend nor her brothers-in-law had title insurance. If the heir would not sign a "quit claim deed," they were stuck with an additional owner. Actually, this happened not once, but twice with the same family group. In one case, the aunt remembered that her parent had been bought out and signed the quit claim deed. In the other case, a cousin either did not know or refused to acknowledge what had happened and ended up getting ten per cent of the proceeds. My suggestion is that you purchase title insurance because lack of it could prove devastating. You make a down payment. You make monthly payments, an increasing portion of which is reducing the amount of principal owed. It is very likely that the value of your property will go up over the years. As time passes, these elements are likely to result in your home equity's being your largest asset. Just how devastating would it be if you eventually discovered that someone else owned what you'd always thought was your home? Do yourself a favor. When you buy a home, buy title insurance. What if the home you're purchasing is new? No one else could have owned it before you, right? Well, someone owned the land. As a matter of fact, the builder/developer probably had a construction loan on it, and they're often released in groups of 10 lots at a time, so it's possible a bank has an interest in your title. What happens if the bank goes bankrupt and you're left trying to get a release from a trustee in bankruptcy? Honestly, I'm not making this stuff up. I've seen this kind of thing happen. Do yourself a favor. Buy title insurance. Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES: The dreaded Zillow ban is finally here. Here's what you can do Business Insider Zillow’s now enforcing its listings ban: 3 things to know Real Estate News by RealEstateNews.com Alexandria Real Estate: The REIT That Nobody Seems To Want (But Maybe Should) (NYSE:ARE) Seeking Alpha Colorado mountain town real estate markets see surge of new listings, price drops — but is it a buyer’s market? SummitDaily.com Real estate transfers in Adams County from June 16-20, 2025 Muddy River News Post-Gazette journalists win national awards in coverage of real estate, religion Pittsburgh Post-Gazette NEUBERGER BERMAN REAL ESTATE SECURITIES INCOME FUND ANNOUNCES DECLARATION OF REGULAR MONTHLY DISTRIBUTION PR Newswire Unlocking Japan's Dormant Real Estate Potential: Marubeni and Dai-ichi Life's Bold Venture - AInvest The Flathead’s Frozen Real Estate Market Begins to Thaw Flathead Beacon Here are businesses on the move in Marin, Solano and Sonoma counties The North Bay Business Journal Real estate business opens new Fleming Island office The Ponte Vedra Recorder Crow Holdings Capital: Specialty real estate surges as investors chase demographic-driven demand Private Equity Real Estate | PERE Nuveen: Leading the way in a changing real estate market Private Equity Real Estate | PERE 'Keep it moving': HGTV cancels TV show hosted by Georgia couple after 4 seasons Savannah Morning News Zillow readies for battle with Compass Real Estate News by RealEstateNews.com Egypt Sherrod Shares Heartbreaking News About HGTV's 'Married to Real Estate' Country Living Magazine The Face of Real Estate in West Sonoma County pacificsun.com Texas Employees commits $483 million to real estate, private equity, infrastructure Pensions & Investments Alexandria Real Estate: Behind Fantastic Dividends, 3 Key Facts To Understand Its Resilience Seeking Alpha Real Estate Transactions, June 30 edition Hopkinton Independent LaSalle on real estate: the world’s simplest, most complicated asset class Private Equity Real Estate | PERE Rockpoint: Back to basics: Real estate’s next chapter will demand local insight Private Equity Real Estate | PERE Seattle City Employees slates €60 million for European real estate fund Pensions & Investments NYLI CBRE Real Estate Fund Q1 2025 Commentary Seeking Alpha Brooks Ballard International Real Estate Celebrates Transition, LGBTQ+ Owned Business of the Year Award Recognition Business Wire AXA IM names real estate heads for North America and Asia-Pacific Pensions & Investments Two local real-estate firms merge to form Venture Fox Realty Group The Altamont Enterprise Logistics and warehousing dominate Lehigh Valley commercial real estate market Lehigh Valley Business Rosa Hawes, trailblazing Dayton real estate pioneer, civil rights advocate, dies at 94 Dayton Daily News Hyatt to Sell Playa’s Real Estate Portfolio Daily Lodging Report Real Estate: June 16 to June 20 Newport This Week Real Estate Transfers: June 30, 2025 The Owensboro Times A Long, Winding Path to Selling Real Estate in the Hudson Valley The New York Times Form 424B3 Forum Real Estate Income StreetInsider In a gridlocked market, it’s time to take assumable loans seriously Real Estate News by RealEstateNews.com NMPERA reveals $20m additional commitment to real estate fund Private Equity Real Estate | PERE Real estate tax deadline today Butler Eagle Hyatt to offload Playa real estate, remain operator HOTELS Magazine EMS Commercial breaks down how experience translates to savings when investing in real estate WMAR 2 News Baltimore HGTV cancels Atlanta-based show ‘Married to Real Estate,’ hosts say Atlanta News First Neuberger Berman Real Estate Fund Maintains Steady Monthly Income With $0.0312 July Distribution Stock Titan Apple spends $517 million on Bay Area real estate in a single week San Francisco Chronicle 20 Indispensable AI Tools for Real Estate Agents HousingWire Amanda Carter: Premier Hervey Bay Real Estate Agent Redefining Client Success and Community Engagement GlobeNewswire Radio Real Estate 6/28/25 My Bellingham Now Mansion in The Ridges hits the market for $9.8 M Las Vegas Review-Journal The Best Real Estate Agent in Douglas Lake: Katelyn Warren ACCESS Newswire Black Opal Insurance Launches Investor-Focused Property Insurance Platform for Real Estate Pros Yahoo Finance Vendor & Real Estate Partners Dollar Tree Jewish real-estate investors look to Israel amid Mamdani victory The Jerusalem Post Major Last-Mile Deal: Town Lane Acquires Massive 2.7M SF Industrial Portfolio in High-Growth Raleigh Market Stock Titan Berkshire region real estate sales – June 27, 2025 The Berkshire Edge |
![]() |
![]() |
![]() |
RELATED ARTICLES
Ten Myths Of Real Estate Investing Is real estate investing only for the wealthy? Can you buy with no money down? Do you have to know the "right" people? Let's answer by looking at some of the myths of real estate.1. Prepare Your Rental Property for Occupancy Among your many responsibilities as a landlord, the law provides for a warranty of implied habitability. This means that the dwelling must be considered habitable and any known problems must be fixed before you allow a tenant to take occupancy. Why it is Important to Hire Just One Real Estate Agent to Buy a Home In our fast paced and frantic real estate market, buying a home takes quick action and strong representation. Some buyers decide to involve several agents in their search for a home, assuming that there is strength in numbers. What Is Home Staging And How Does It Help To Sell My House Home staging is the concept of preparing a house for sale. This can involve everything from removing clutter, re-arranging furniture and in some cases re-decoration, ensuring that the house creates a great first impression and helps buyer's to feel that they could really live there. For Sale By Owner Listings Selling your home on your own, without a Realtor, is becoming less and less popular. This is surprising, considering that home values have skyrocketed and commissions have risen along with them. 10 Easy but Essential Steps for Home Selling Success They say that the whole process of selling up, buying new and moving on is one of the most stressful series of events any of us goes through in a lifetime: and yet with careful planning, attention to detail and a clear focus, the whole process can be relatively stress free.While there will always be factors outside the control of any home seller, those factors that fall within their control sphere can proceed fluidly and smoothly when they take the time to plan and think one step ahead. Be Patient Screening Tenants Rental real estate is a solid way to make money. I'm particularly fond of residential properties, because people have to live somewhere. How To Give Your Home A Face-Lift: The Sellers Guide To A Quick Sell One of the great challenges to selling a home can be showing all of its space, decor and natural light potential. For example, every home has crowded closets and dead space. Reprint Rights and How To Use Them To Generate A Steady Income I can't emphasize enough how important it is to have a step by step guide for sellers and tenant buyers. However, many of you are missing out on other income streams that these step by step guides can generate. Selling Houses Fast: Basics of Design & Color Psychology Fixing up houses to ready them for sale includes a design plan for needed changes. Save money on transformation costs by choosing design details right the first time. At Home In Your Overseas Home Homeownership, in any form, is a big step for most people. In fact, it's often one of the biggest financial decisions of our lives. Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced Properties Are Available... Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced properties are available if you know how to buy them. By Jody Hudson - Realtor since 1972. Negotiating A Short Sale - The High Road to Huge Foreclosure Profits Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. What Should I Do If My Home Isnt Selling? Suppose you've been trying to sell your home for months. You haven't had even a nibble from a prospective buyer. Planning for Real Estate with Estate Planning One of the most important considerations you will need to make in regards to your real estate holdings and your estate includes tax planning. If not handled properly, your estate could end up getting hit with significant losses due to taxes after your demise. Theres More To Making Money Than A Tertiary Education An education of some sort is a prerequisite these days if you want to start a secure career in whatever field you choose. However, have you thought about where this will get you exactly? Will it help you achieve all your dreams in life, both financial, physical, emotional etc?This article is focusing on the financial and lifestyle dreams that you may have. Santa Visits a Just-Moved Newcomer in South Florida Twas the night before Christmas and all through the houseNot a creature was stirring, just the Mac and the mouse,When all of a sudden a wail filled the airAs the burglar alarm detected a hair.I ran to the keypad, pushed down on the codeHoping neighborly tempers would not explode. If You Cant Afford to Retire...Move According to Warren Bland, PhD, an award-winning author and geographer at Cal State, people have a great option. It's called "equity-take" that is, the difference in cost of comparable housing between your present community and the more affordable one to which you could move. Real Estate Investing with Bad Credit! By being creative, you can play the game of real estate investing by using what is called Option's investing.This is just one technique of the Option's strategy of investing but can be a power tool in your investors toolbox to help you control more real estate and build wealth. Real Estate Web Design - 3 Items You Must Include on Your Site Real estate web design requires you to do things a little bit differently because you are selling either your services or actual homes, so there must be several things present on the web page to make it user friendly. Unfortunately, many real estate web sites are poorly designed, ask visitors to supply tons of personal information before being able to view any information, don't provide enough information not to mention photos, and are all around a pain for many visitors. ![]() |
home | site map |
© 2006 TIGER MEDIA |