Housing Wire

APRIL 17, 2023

The cost of title insurance has decreased 7% since 2004 thanks to industry investments in machine learning and artificial intelligence (AI). Many companies are now using AI and machine learning to search traditional and non-traditional property data sources — reducing the time required for a manual title search.

Title

Housing Wire

FEBRUARY 23, 2023

When people think about the title insurance industry , what comes to mind is often its core products – title insurance policies that protect property rights of homeowners and lenders. As an industry, our commitment to protection goes beyond title insurance policies. As an industry, we united against these unfair fee agreements.

Title

Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. This is a top priority for ALTA.”.

Title

Housing Wire

MARCH 1, 2024

According to industry data, a third of all claims paid by title insurance companies are for issues that cannot be found in a search of the public records and would not be covered by an AOL. Diane Tomb is CEO of the American Land Title Association.

Title

Housing Wire

JUNE 8, 2023

Many in the title industry would argue that Fannie Mae ’s acceptance of AOLs is a big deal. “We We strongly believe that title insurance is, and always will be, essential,” the American Land Title Association wrote in an email to HousingWire in April 2022. Now we have less confidence, but we have lower costs.”

Title

Realty Biz

FEBRUARY 19, 2024

Buying land represents a pivotal investment in one's future. However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives.

Land

Housing Wire

MARCH 27, 2023

For a one-time fee paid at closing, title insurance protects homeowners and lenders from defects not only discoverable in public records search but also from unknown risks such as fraud and forgery that are not revealed in a title search. Diane Tomb is chief executive officer of the American Land Title Association.

Title

Housing Wire

DECEMBER 26, 2022

That compares with $101 billion in HELOC volume and $38 billion in closed-end home-equity originations over the same period this year, according to a recent report by the Urban Institute’s Housing Finance Policy Center. “I Currently, I would say the majority of our volume is some type of HELOC product.”. This is a top priority for ALTA.”.

Title

Housing Wire

DECEMBER 27, 2023

The title industry has worked hard over the last few years to shed that reputation. It has begun to adopt and integrate more and more technology into the title search and production process.

Title

Point2Homes

NOVEMBER 16, 2022

Owning your own plot of land is a dream come true for many of us. But, if you’re ready to make that dream a reality, you might be wondering exactly how to go about buying land. Find a Plot of Land. They’ll have access to even more search tools and can guide you through the entire process. Secure Financing.

Land

HomeLight

JUNE 19, 2023

It’s a plot of land. It makes you wonder: what’s the process for buying land with cash? Get Started Step 1: Find the land for sale You won’t always be lucky enough to drive past a plot of land that’s the perfect investment opportunity for you. There are real estate agents who specialize in land plots.

Land

HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common. Financing issues. The title isn’t clear.

Closing

Realtor.com

OCTOBER 29, 2020

Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. When you buy a home, you “ take title ” to the property and establish legal ownership—a process that’s confirmed by local public land records. Review your closing disclosure.

Closing

HomeLight

SEPTEMBER 1, 2022

These programs include: Connecticut Housing Finance Authority (CHFA) : The Connecticut Housing Finance Authority offers down payment assistance to first-time buyers in the form of a second mortgage called a DAP loan. Both the down payment and closing costs can be financed up to $20,000, with an interest rate of just 1.0%.

Earnest money deposit

HomeLight

APRIL 30, 2021

Buyers using financing and putting down 20% or more. Buyers using financing and putting down between 10% and 19%. Typically, with a financed offer — that is, one that’s backed by a mortgage — your offer is contingent on the mortgage going through successfully. So you’d be at the top of the list above the other buyers.”.

Due diligence

Realty Biz

NOVEMBER 11, 2020

The Mortgage Financing Contingency. While it is rarer for a home sale to fall apart because of a buyer not getting financing, it is still something where due diligence is essential. One of the standard contingencies in nearly all real estate contracts is delivering a clear title. These appraisal tips will help.

Backup offer

Redfin

MARCH 3, 2022

Financing issues. Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear. Municipal lien letters matter,” says Sara Cleary of Tri-County Land Title & Escrow Company.

Closing

HomeLight

AUGUST 31, 2021

A settlement statement is an itemized list of fees and credits summarizing the finances of an entire real estate transaction. However, the settlement form developed by the trade group ALTA (American Land Title Association) is widely used across the nation for real estate transactions. Title Search. Loan Amount.

Earnest money deposit

Realtor.com

NOVEMBER 28, 2022

land is located within USDA loan–eligible boundaries, where about one-third of all Americans currently reside. Primary residence stipulations: “Only single-family, owner-occupied homes can be financed,” says Barber. Must be unable to obtain financing from other sources. Must be without decent, safe, sanitary housing.

Loans

HomeLight

APRIL 6, 2023

California transfer taxes A transfer tax is a transaction fee tacked onto the sale of any land or real property. Other selling expenses to anticipate in California Title fees: These consist of title insurance and a title search. per $1,000). and 1% of the sale value.

Title

HomeLight

JUNE 9, 2023

Step 5: Figure out how much you can afford Now that your finances are in preliminary shape, it’s time to start looking at a budget and price range for a home for yourself! Remember: Sellers don’t want to have to deal with an offer falling through due to a lack of financing or funds. Always a good thing!)

Title

HomeLight

AUGUST 31, 2021

Clear title: The cash buyer will require a title search to make sure that you can convey the property free and clear of any clouds or judgments against the property, such as mechanic’s liens, unpaid taxes, or boundary encroachments. Who will purchase your home for cash? You have a problematic or occupied rental property.

Proof of funds

HomeLight

SEPTEMBER 16, 2021

A ‘cash offer’ simply means the offer does not include a financing contingency — in other words, it’s not dependent on the buyer being able to secure a loan.”. However, cash offers historically tend to be lower than financed offers. Clear title. Close for cash in as few as 10 days. Consult with a top real estate agent.

Title

HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. A 10-day closing translates as getting your home sold around five times faster than with a buyer who needs financing in today’s market.

Earnest money deposit

HomeLight

SEPTEMBER 1, 2022

To get started on evaluating your financial situation, take a look at your credit score and determine where you land on the scale between poor and excellent. Some programs available to low-to-moderate income homebuyers and first-time homebuyers include: Golden State Finance Authority (GSFA). Order a title search.

Earnest money deposit

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride.

Short sale

HomeLight

JUNE 30, 2022

You might also want to shop around to find a closing services provider with lower fees; your real estate agent can guide you to title and escrow companies they’ve had success with in the past to get you both a good deal and a smooth transaction. Title search fee. Title insurance. Property taxes. Homeowners insurance.

Title

Marco Santarelli

DECEMBER 20, 2020

Have your financing option ready before you submit an offer as most sellers want to see a pre-approval letter before accepting an offer. This includes everything from land to newly built homes in foreclosure to luxury real estate subdivisions where the builder went bankrupt. You can search their inventory for deals.

Sales

HomeLight

FEBRUARY 28, 2022

Whether you want to avoid listing and showing your Land Park home or you need to quickly sell the home you’ve inherited near Folsom, these Sacramento home buying companies may be able to help. Lenders may not agree to provide financing for homes that fail to meet minimum property standards as evaluated by a home appraiser. average.

Closing costs

HomeLight

DECEMBER 30, 2022

My Quick Home Buyers acquires family homes, multi-family properties, condos, townhomes, and vacant land. After a brief inspection and title search, the company presents its findings to the seller. Title search. Cash-for-homes companies often handle title issues. Must clear title before you can sell home.

Purchase and sale agreement

HomeLight

NOVEMBER 10, 2022

My Quick Home Buyers acquires family homes, multi-family properties, condos, townhomes, and vacant land. After a brief inspection and title search, the company presents its findings to the seller. Title search. Cash-for-homes companies often handle title issues. Must clear title before you can sell home.

Purchase and sale agreement

HomeLight

NOVEMBER 10, 2022

My Quick Home Buyers acquires family homes, multi-family properties, condos, townhomes, and vacant land. After a brief inspection and title search, the company presents its findings to the seller. Title search. Cash-for-homes companies often handle title issues. Must clear title before you can sell home.

Purchase and sale agreement

HomeLight

NOVEMBER 29, 2022

One thing that sets this company apart is its openness to purchasing not only single-family homes, but also land, condos, and apartments that owners want to offload quickly. stars, customers report professional, responsive staff and positive experiences with selling both homes and lots (land) in any condition. Title search.

Purchase and sale agreement

HomeLight

DECEMBER 31, 2022

My Quick Home Buyers acquires family homes, multi-family properties, condos, townhomes, and vacant land. After a brief inspection and title search, the company presents its findings to the seller. Title search. Cash-for-homes companies often handle title issues. Must clear title before you can sell home.

Purchase and sale agreement

HomeLight

AUGUST 11, 2022

They don’t buy mobile homes, manufactured homes, or vacant land. If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require. Title search. Financing contingency.

Closing costs

HomeLight

APRIL 11, 2023

Metro DFW Home Buyers Website: metrodfwhomebuyers.com Phone number: 817-380-8333 Locations: Fort Worth, serving greater Dallas-Fort Worth For property owners looking to sell a home or piece of land in the Fort Worth area, Metro DFW Home Buyers offers a cash-buying option for both property types.

Purchase and sale agreement

HomeLight

FEBRUARY 8, 2023

YellowBird Home Buyers Website: yellowbirdhomebuyers.com Phone number: 904-298-6911 Locations: Jacksonville and all of northeastern Florida Another company headquartered in Jacksonville, YellowBird Home Buyers buys properties of all kinds for cash — houses, condos, mobile homes, and land — regardless of condition.

Purchase and sale agreement