All of these are bad, but which is the worst?

Source: All of these are bad, but which is the worst?


5 Things to Know About Title Insurance

The Real Estate Savvy



Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.

  1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.
  1. It’s a one-time cost usually based on the price of the property.
  1. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.
  1. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.
  1. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required…

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What is the role of a Buyer, Seller, Lender or Escrow Holder? Here is a breakdown of responsibilities for each party during the escrow process

Tina Jent-Fodor

The Buyer

• Deposits funds to pay the purchase price, and funds for property and closing costs.

• Provides deed of trust or mortgages needed to secure the loan.

• Arranges for borrowed funds to be deposited into escrow.

• Provides, if required, documents such as inspection reports, insurance policies and lien information to verify compliance to the instructions.

The Seller

• Deposits the deed to the buyer with the escrow holder.

• Provides evidence to meet the buyer’s condition of sale, such as proof of repair work and inspections.

• Submits other documents, such as tax receipts, mortgage information, insurance policies, and warranties.

The Lender

• Deposits loan funds, lender instructions, and other loan documents with the escrow holder.

The Escrow Holder

• Serves as a central depository for funds and documents.

• Obtains a title insurance policy, when required.

• Fulfills the lender’s requirements if applicable.

• Secures…

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