When you purchase your home how can you be sure there are no problems with the homes title and that the seller really owns the property? This is a common question that comes up more often than you would think in a real estate transaction. Problems with with the title can limit your use and enjoyment of the property as well as bring financial loss. This is what title search and title insurance are for.
When negotiating for the house of your dreams it is sometimes hard to offer over asking in order to make the offer more appealing to the sellers. Negotiating title and escrow fees can be a smart and helpful tactic to make your offer stand out over the others! In every real estate transaction, the payment of title and escrow fees is negotiable and subject to the terms of the real estate contract, but in most counties, there is a “customary” procedure which is as outlined below:
Contingencies are something that come up in a real estate transaction and we as Realtors sometimes forget that this is an abstract concept to our clients. Hopefully this will provide a little more clarity into what contingencies are and what their purpose is in a real estate transaction.
Congratulations! Perhaps you just got an offer accepted and you are in escrow or you are just curious about what goes on during escrow. Either way it is important to know what types of inspections you can have done as a buyer so you can move without the anxiety of the unknown. While this is not a complete list of all the inspections possible, here are some of the important inspections that can help clear the air around your new home.