Who Is Responsible for Getting Title Insurance?

If you have never bought a house before, you probably haven’t heard of title insurance. A property deed or title has to be “clear,” or “free of defects,” that could cause the sale to be invalid or illegal. Title searches are done to try to ensure that there are no holds barring the owner from selling the property. Still, some title problems don’t come up until after the sale. This is what title insurance is meant to cover.

Title defects can vary, but the most common include: Read more

What to Do When a Title Cannot Be Produced by the Seller

Did you get all the way through closing while purchasing your new home only to discover that the seller can’t produce a title or deed for the property? If a seller isn’t able to produce a clear title, the home sale might not be valid. Here’s what you need to do next.

Understand what a clear title is.

A clear title means that a real estate deed has no title defects such as co-owners not in on the deal or lienholders or stakeholders preventing the sale. A property deed can easily be obtained through the courthouse; and if a seller won’t or can’t produce the title, it is probably because they don’t want you to know about a defect. Read more

Does Your Potential New Home Have a Clear Title?

When you buy a used car, it is very clear if there is a lien on the property. The lienholder’s name and contact information will be on the title, along with the owner’s information. But when you buy a home, you don’t have that transparency. Deeds or real estate titles do not list lienholders on the title.

You should never just take someone’s word for it that a title has no defects. Even real estate agents can be unscrupulous. So how do you know you have a clear title, and why it is important? Read on to find out.

Common Title Defects

A real estate deed may have any one of several title defects. A title defect is an issue with the title that makes it unlawful for the property to change hands. Some of the most common defects include: Read more

How to Prevent Real Estate Fraud

Real estate fraud is very real, especially in today’s world where everyone is trying to do everything online. With more and more people wanting to do contactless showings and closings, it is way too easy for people to take advantage of the situation and scam you out of your hard earned money. Here is what to look for and how to prevent real estate fraud.

Types of Real Estate Fraud

There are different forms of real estate fraud. The most common in today’s society is real estate fraud involving homes for sale. Scammers find property listed for sale or make up their own details around a picture found online, then try to hook in a potential “buyer.” Read more

Signs of Real Estate Wire Fraud and How to Avoid It

It has become quite common for people to find homes to purchase from different websites on the internet. The problem with doing this is that you can easily fall prey to wire fraud scams that will waste your time and could cost you hundreds or thousands of dollars. 

Especially with everyone trying to practice social distancing, most business is being held online; and, unfortunately, you cannot trust anyone online. They may not be who they say they are, and some people can sound very convincing. Here are some signs of real estate wire fraud and how to avoid it. Read more

About America’s Affordable Housing Crisis

There is a definite housing crisis in America. Almost 32,000 people are homeless in the state of Florida alone. About 35 percent of homes or housing units are occupied by renters. And in a national poll, about two-thirds of renters say they couldn’t afford to buy a home if they wanted to.

But what exactly is affordable housing? According to the federal government, affordable housing costs no more than 30 percent of the household’s income. Unfortunately, the vast majority of renters spend a much larger portion of their income on housing. Read more

Common Misconceptions About Title Insurance

Most people know little to nothing about title insurance. You’ll never deal with title insurance if you don’t buy a home. Title insurance is designed to protect you in case there are problems with the transfer of the title or deed. It is required by most lenders, so you will definitely have to purchase title insurance. Here are some misconceptions that you need to be aware of.

I don’t need an owner’s policy.

The title insurance policy you purchase for your lender does not protect you personally. That policy only covers the lender and your loan. If there is a problem with the title, the lender is protected from losses. If you, too, want to be protected, you need to also buy an owner’s policy. The owner’s policy protects you for as long as you own the home. Read more

When Is the Best Time to Sell a House

Most sellers are families looking to move to a different home. That requires some planning, and you want to make sure that your home sells as quickly as possible when you decide to list it. When making the decision of when to plan your move, take into consideration the best time to sell a house.

The average time it takes to sell a house is 65 to 93 days, depending on the time of year. That includes about 45 days, on average, for closing. Unless you are getting a cash offer, closing will take an average of 45 days no matter when you sell your home. Keep that in mind when deciding when to put your house up for sale. Read more

What Is a Cash Offer, and Is It Worth It?

A cash offer occurs when a buyer approaches a seller with an offer that will be paid in cash rather than through a mortgage lender. Cash offers happen much more often than you might think. In 2018, over a quarter of offers made on properties were cash offers. 

A cash offer might look attractive to both buyers and sellers, but there are some upsides and downsides to cash offers. Here’s what you need to know to decide if a cash offer is right for you.

Cash Offers for Sellers

There really aren’t too many downsides to taking a cash offer from a buyer. You’re getting the money up front without a lender, which means you have instant liquid assets you can use to buy another home or purchase other investments. You also don’t have to worry about complications with a lender, either during closing or during payout. Read more

How Long Does It Take to Sell a House?

It makes sense that once you decide to sell your home, you’re in a hurry to get it gone. After all, you are probably waiting for it to sell so that you can move to a new home. If that’s the case, it’s natural to wonder how long it takes to sell a house. The fact is that there is no set time that it takes, and there are a lot of factors involved.

Average Time to Sell a Home in Florida

The annual average amount of time that it takes to sell a home in Florida is about 90 days. This allows for 55 days to find a buyer and 35 days for closing. This is a bit slower than the national average. Nationally, it takes an average of 68 days to find a buyer and close on a property. Remember that these are just averages, and there are a lot of things that can affect how long it takes. Read more