We understand that by keeping you informed and helping you prepare for closing day, the more likely you will have a stress free closing experience. Our courteous and professional staff are proactive in their communication and work diligently to ensure the orderly and efficient transfer of real estate…and we do it with a level of service and friendliness that is hard to beat in this industry. Here are 5 things NOT TO DO during the closing process: CHANGE YOUR MARITAL STATUS: How you hold title is affected by your marital status. Be sure to make both your lender and the title company… read more →
Remembering each home would appear easy, but it can quickly become confusing. Which home was near the school? Which one had the great pool? Did it have a family room? How many bathrooms? In the “Something Memorable” category, note something you think is unusual and memorable about each home, such as a stained glass window, fruit trees, a child’s playhouse. This will make it easier for you to recall the property later and refer to a specific address. And, last but not least, maybe the most important question, does this house feel like home? The following home comparison chart is… read more →
THIS FORMULA IS ONLY A GUIDE AND NOT TO BE CONSTRUED AS ACTUAL LENDING CALCULATIONS. Contact your loan officer to determine more accurately what price range you should consider. Lenders abide by certain ratios when calculating the loan amount their customers can qualify for and the ratios vary by lender and loan program. Many use 28% of your gross monthly income as the maximum allowed for your mortgage payment (principal/interest/taxes/ insurance or PITI); for your total monthly debt, the ratio is 36%. Total monthly expenses means PITI plus long-term debt (such as auto loans) and revolving/credit-card debt. Do not… read more →
Have you ever considered how much you pay in rent over an extended period of time? It is probably a lot more than you realize. The amount you spend for rent each month could be applied to a mortgage, not only building equity in your own property, but, in most cases, substantially reducing the Federal and State income taxes you pay each year. And, what happens to your rent money? It’s gone! There’s no interest, no equity, no return. To determine your home-buying ability, call your real estate agent or lender. Here’s a chart to help break down how much… read more →
While the holiday season probably doesn’t jump out as one that we want to undertake home projects, it can be a good time to take care of some of those smaller chores that you’ve been putting off. This time of the year often serves as a reminder of some of our deferred home maintenance, so think about taking some of these practical steps to make the season more enjoyable. 1) Install and/or maintain smoke alarms: With the cooking appliances working overtime, holiday scented candles continuously burning, and dry Christmas trees strung with hundreds of burning light bulbs, home fires during… read more →
Do you feel like you are drowning in alphabet soup? Acronyms have become common-place in the title insurance industry. In fact, acronyms have come so far that there are acronyms of acronyms! One of the newest is TRID, an acronym for TILA-RESPA Integrated Disclosure Rule. Some acronyms are part of an industry group or association, such as ALTA, NAHB, DOI, or DFR; sometimes an acronym may describe certain standards. There are so many acronyms that it can be confusing and certainly overwhelming. The table below contains some of the industry’s most commonly used acronyms and their meanings.
Homeowner’s have many options to consider when determining the best possible protection to keep their homes safe and secure for their families. Many homeowners choose to install smoke alarms, deadbolt locks, and home security systems as important lines of defense to ensure their peace of mind. An Owner’s Policy of Title Insurance is also an option homeowners choose to provide an added layer of security and protection. Your home may be new to you, but every property has a history. There may be hidden issues in the chain of title which could affect your ownership, such as: Errors in Public… read more →
Whether you are purchasing a home or selling a house, knowing what to expect and being prepared at the “closing” can help eliminate stress and result in a pleasant experience. We understand how important this transaction is to you, and we are committed to consistently providing a level of service that prepares you for this final step in your real estate transaction. Although the settlement process can vary from state-to-state, here are some common items that may be required from you at closing and can help your closing go as smoothly and quickly as possible. VALID PHOTO IDENTIFICATION Two forms… 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. Some information about the costs associated with closing on your home should be provided to you before… read more →
What is the “public records” doctrine, and why does it matter? ALL interests in immovable property must be recorded in the appropriate recording office to have effect against third persons. That is, a person who is not party to or personally bound by an instrument. Thus, the following examples of real rights, in order to have effect against the rest of the world, must be recorded: Usufructs Rights of habitation Servitudes such as rights of passage and utilities Mortgages Most liens/privileges, judgements, leases, oil, gas and mineral leases and servitudes Restrictive covenants The list of interests in land is potentially… read more →
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