7 REASONS WHY BUYERS NEED TITLE INSURANCE
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BUYING A HOME IS AN EXCITING AND EMOTIONAL TIME FOR MANY PEOPLE. To help you buy your home with more confidence, make sure you...get Owner’s Title Insurance. HERE’S WHY IT’S SO IMPORTANT FOR YOU:
- PROTECTS YOUR LARGEST INVESTMENT A home is probably the single largest investment you will make in your life. You insure everything else that’s valuable to you—your life, car, health, pets, etc., so why not your largest investment? For a onetime fee, owner’s title insurance protects your property rights for as long as you or your heirs own your home.
- REDUCES YOUR RISK If you’re buying a home, there are many hidden issues that may pop up only after you purchase your home. Getting an owner’s title insurance policy is the best way to protect yourself from unforeseen legal and financial title discrepancies. Don’t think it will happen to you? Think again.
Unexpected title claims include:
- outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes
- pending legal action against the property that could affect you
- an unknown heir of a previous owner who is claiming ownership of the property
- YOU CAN’T BEAT THE VALUE Owner’s title insurance is a one-time fee that’s very low relative to the value it provides. It typically costs around 0.5% of the home’s purchase price.
- COVERS YOUR HEIRS As long as you or your heirs own your home, owner’s title insurance protects your property rights.
- NOTHING COMPARES Homeowners insurance and warranties protect only the structure and belongings of your home. Getting owner’s title insurance ensures your family’s property rights stay protected.
- 8 IN 10 HOMEBUYERS AGREE Each year, more than 80% of America’s homebuyers choose to get owner’s title insurance.
- PEACE OF MIND If you’re buying a home, owner’s title insurance lets you rest assured, knowing that you’re protected from inheriting any existing debts or legal problems, once you’ve closed on your new home.
With deed fraud at an all-time high, it is necessary that we remain active in protecting our greatest asset from the bad guys.
FIRST………….. Julie opens all new orders. Send your accepted purchase contract to titleorders@homeservicestitle.com
Prepare both buyers and sellers for closing.
Home Services Title wants to make your real estate transaction as smooth as possible.
Protect YOUR Investment You ensure everything else valuable to you - your life, car, health, etc., why not your largest investment? For a one-time fee, owner's title insurance protects your property rights from unforeseen legal and financial title discrepancies for as long as you or your heirs own your home.
WHAT HAPPENS AFTER SIGNING? The loan documents are returned to your lender for review. Once the lender authorizes us to close escrow, we will contact you or your agent with the good news. WHAT WILL I GET IN THE MAIL AFTER CLOSING? You will receive your final Settlement Statement - be sure to keep it for tax purposes. You will also receive a title policy and recorded deed showing your ownership. Finally, you will receive an information package from your new lender. WHEN DO I GET MY KEYS? Your real estate professional will handle the key exchange. It typically happens once your lender allows us to record the transaction. HOW DO I MAKE MY FIRST PAYMENT? You should have received a temporary payment coupon with your loan documents at the signing - you may need to use it to make your first payment. Within a few weeks, you should receive coupons /statements directly from your lender. UTILITIES You will need to contact the utility company to transfer utilities into your name before you move in. The seller’s final utility bill is not handled through escrow; you must address the transfer directly with the utility company and the seller so that you are not billed for those services.
Things to consider before closing.
Tips to Detect Fraud
Understanding the Basics of the Ohio Good Funds Law
The Long and the Short of it...Tax Proration.