Title insurance is often sidestepped despite being a very vital part of the home-buying process. It is a layer of protection for those buying property should any title-related issues from prior owners arise after ownership has been transferred.  But should you get title insurance on a new construction home?   ,,New construction refers to a brand-new home that no one has lived in. This house was built and the homebuyer will be the first homeowner. Yet, there is a good chance that someone has previously owned the land — and that’s where hidden title issues may arise.  L ..read more

Simply stated, the goal of commercial due diligence is to reduce the risk of post-transaction surprises. This can pertain to both the success of the property itself and the market it is in, as well as your rights to use it.  Just as an investor will do their due diligence before making an offer on a property, the title company will do theirs to ensure it is a smooth, safe transition.  Let’s take a closer look at how commercial due diligence works to reduce the risks involved with this type of property purchase.  The Risks Associated with Commercial Property ,,Commercial real es ..read more

When buying a property, there are a few different people you need on your side—   A lender that will grant you a pre-approval so that you have an idea of what you qualify for when purchasing a home. A real estate agent that will help you find that perfect home. And, a title agency to ,,protect your purchase.  Unfortunately, without a true understanding of what a title agency does, many buyers and sellers are left wondering whether they truly need a title agency.  What a Title Agency Does Title agencies handle a real estate transaction from start to finish. They will be the ..read more

There is a lot that goes into ,,buying and selling property. One missed step and you could put yourself at great risk.  See, a title is a legal term that encompasses all the rights, uses, and privileges of buying and owning a piece of property. In other words, the title to your property is a big deal — and you want to ensure everything is done right.  This is where a title company and its team of title agents come in. They help ensure that a real estate transaction goes through successfully and without any issues.  But what does a title agency actually do? Title Searc ..read more

Investing in commercial real estate requires a lot of due diligence. Digging through mounds of paperwork is necessary just to confirm that there is a clear owner — and that the owner matches the seller. While commercial real estate transactions may be quite a bit more complex than those involving residential property, they still follow many of the same general steps, including the title search. And when it comes to title insurance, there is no exception. Investors in commercial property want to make sure they are buying real estate that is free of any title issues or encumbrances before the s ..read more

Many homeowners find it beneficial to refinance their property when interest rates drop. After all, it is a great way to not only end up with a lower monthly mortgage payment but to also save a ton of money in interest over the life of the loan. Though the savings are great now and in the long run, don’t dismiss the fact that at your new closing, you will be required to pay any closing costs and title insurance fees associated with the new loan. Already have a lender’s title insurance policy? You are going to need a new one. Your owner’s title insurance is tied to your property and is not imp ..read more

A title search will be done when you purchase your home, ensuring that the title to your property is clear. Then, as a means of precaution, your title company will offer you a title insurance policy in case anything is missed in the search, such as a lien. Should you purchase it? Does title insurance really help? Understanding Title Insurance and Liens Will ,title insurance help if you have a lien on your home? It depends. Title insurance does not protect against things that may happen in the future, but rather things that happened in the past. It protects against liens, for instance, that we ..read more

If you are taking out a mortgage to buy your new property, be prepared to buy a lender’s title insurance policy. Yes, this type of insurance protects your lender or bank - and not you. And yes, you will likely be required to purchase the policy as a condition of your loan whether you want to or not. The good news is that you will only have to pay the insurance premium one time at closing. What is it and how does ,title insurance affect a lender? Let’s find out. What is Lender’s Title Insurance? In a nutshell, your title company will review the title of the property you are purchasing and make ..read more

Don’t let the excitement of purchasing a new home let you make decisions you may regret later, such as declining title insurance. When investing in this insurance policy, you are protecting yourself from things that happened before you took ownership. You never know what may arise - or when. So, investing in a title insurance policy is your best line of defense. But where do you purchase ,title insurance in Michigan? Let’s find out. Why You Need Title Insurance Understanding the importance of title insurance comes with understanding what it is. When you sign the initial contract and put down ..read more

If you decide to take out a mortgage when you ,buy a home, then you are going to have to put down some money. Lenders see this as your way of contributing to the purchase of the property - as they take care of the rest. This money is referred to as a down payment. Knowing just how much money you should save to put down on your first home is important for planning ahead. So, let’s talk about it. How Much is Needed for a Down Payment? On average, you can expect that a down payment for a home will be anywhere from 10% to 20-25% of the purchase price. This means if you are borrowing $100,000 from ..read more