Title insurance protects the insured against covered title defects affecting the insured property. When you buy a home, you expect to enjoy important property rights. For example, you likely expect to be able to occupy the property, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell your property or pledge it as security for a loan. Title insurance is designed to protect these important property rights. Here are seven reasons you should purchase an owner’s policy of title insurance. 1. Buying a home is a big investment. For… read more →
Although the property you just purchased is new to you, it has a history, and sometimes, these histories can include unwanted baggage. During a real estate transaction’s closing process, a title search on the property is completed to determine whether there are title defects that can have an effect on the purchase. One common title issue buyers face when completing a title search is an error in public records. Humans aren’t error-free, and a clerical or filing error regarding your property can have an effect on the deed and result in costs you may not have expected. A title search… read more →
“Escrow” is a term that describes the neutral third-party handling of funds, documents, and tasks specific to the closing (or settlement, as it is also known), as outlined on the real estate purchase agreement or sales contract. The purpose of escrow is to facilitate the transaction by managing the disbursement of funds and documents. KEY PLAYERS In accordance with local custom, the buyer or seller involved in the transaction will select the escrow provider, though they often defer to their real estate agent to make this decision. This provider could be an escrow company, title officer, or title/escrow attorney, depending… read more →
In order to truly understand the benefits and limitations of title insurance we’re breaking it down for you. This article is the first part of a four-part series. We will cover the following topics with you over the next four weeks: Part 1: What is title? Part 2: What is the “public records doctrine” and why does it matter? Part 3: What is a “title examination” and why is it important? Part 4: Title insurance basics Part 1: What is “title”? The types of real rights, that is, interests in immovable property, that Louisiana law recognizes are ownership, personal servitudes, predial… read more →
The closing process is a relatively standard procedure no matter which title company you choose. At 110 Title, we strive to make this process as easy and streamlined as possible for the buyer and seller. 110 Title is focused on 110% customer service at every closing. A closing is a term used for the point in time at which the title to the property is transferred to the buyer and, generally, a mortgage (or “deed of trust”) is given by the buyer/borrower to the lender. Step 1: Lender provides you with a Good Faith Estimate Some information about the costs associated… read more →
We first posted the story of 110 Title about three years ago. We’re posting it again now because we believe it is the backbone of our company. We hope you enjoy learning more about 110 Title and how we came to get our name. *** My father and I are frequently asked, “What is “110” anyway?” As some may guess, it does have to do with the old cliché of giving “110 %”. However, thanks to an old, grey headed, tough as nails, hard lined, “do-it-right-or-not-at-all” football coach that Jack Mendheim, (the owner), Blake (Jack’s oldest son and the owner of 110 Builders,… read more →
WHEN AND WHERE TO APPLY FOR A LOAN? There are many sources for home loans including banks, credit unions, mortgage companies, and mortgage brokers. You may consider asking friends and relatives or your real estate agent for recommendations. Knowing what you can afford before you begin looking may give you more bargaining power when negotiating with a seller. WHAT IS A HAZARD (OR FIRE) INSURANCE? Hazard insurance covers the dwelling itself and may be required for your home. Your lender or real estate agent may explain the necessary hazard insurance coverage to you. If you are buying a condominium, ask… read more →
Moving to a home in a new location can be an exciting adventure, but it can also be the cause of stress and confusion for household pets. To minimize the trauma, here are a few tips that may help make your pet’s transition a little easier: 1. Schedule an appointment with the veterinarian for a check-up prior to moving. Obtain a copy of your pet’s medical history along with rabies certifications that state when and where your pet was vaccinated. Make sure the supply of current medications will last until a veterinarian in your new location can be found to… read more →
Lender’s Policy If you’ve ever mortgaged a home, chances are you were required to purchase a title insurance policy. This lender’s policy (often called a loan policy) is required by most lending institutions as a way to insure their security interest in the property. This policy protects the bank or other lending institution for as long as they maintain an interest in the property (typically until your mortgage is paid off). Owner’s Policy However, as a buyer, you also want to protect your investment – and the ownership rights that come with it. This is why it’s wise to purchase… read more →
Have you ever wondered why you need title insurance? Your home may be new to you, but every property has a history. A thorough title search can help uncover any title defects tied to your property. And, subject to the terms of the policy, your title insurance provides protection for you from title problems that may become known after you close your transaction. Some of these common title issues are: Errors in public records: To err is human, but when it affects your home ownership rights, those mistakes can be devastating. Clerical or filing errors could affect the deed or… read more →
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