By Elliot Zaks, Principal, Madison Commercial Real Estate Services
Do-it-yourself projects may be a worthy endeavor for a handy homeowner refinishing a deck or a green thumbed gardener installing a herbaceous border. However, in the complex world of real estate transactions, DIY measures may backfire. Buyers seeking to cut costs with DIY methods can miss out on some vital resources.
The residential home market is experiencing a shift in attitudes. Rising interest rates and stiff credit requirements are causing a slow down in residential mortgage lending, as buyers struggle to get home loans. Rather than submit to the strict rules of the banks and creditors, many home buyers are turning to all cash deals. While cash buyers have the advantage of evading lender’s regulations, they should be careful not to forego essential industry safeguards. Continue reading
Tags: all-cash deal, do-it-yourselfer, Inc., individual investor, lender’s title insurance policy, owner-occupant buyer, Owner’s title insurance policy, real estate attorney, real estate transaction, Realty Trac, second-home buyer, title insurance
By Michael Donini, Esq.
While time may not always allow an attorney to read through every detail of the boilerplate title insurance policy, a skilled practitioner should definitely know the exact details of the customized portions of the policy and the scope of the title insurance coverage given by endorsements. Why? Because a full understanding of policy endorsements and their benefits will ensure a client’s proper title insurance coverage. Continue reading
Tags: access, ALTA 4, endorsements, lender’s title insurance policy, line of credit, mezzanine loans, non-imputation during a partnership buyout, Owner’s title insurance policy, property contiguity issues, revolving credit, title insurance, title insurance policy endorsements, title insurance underwriter, zoning
Is title insurance a legal scam? A lot of people think so. Title insurance is one of the most misunderstood aspects of any real estate closing. Most buyers don’t fully understand how title insurance works or why title insurance is required by any lender financing a property. More importantly, most real estate owners don’t view title insurance as something desirable. Click here to learn more about how title insurance differs from all other kinds of insurance and why anyone buying real estate should want “peace-of-mind insurance.” Continue reading
I am often asked by individuals why they should purchase title insurance. Title insurance insures a homebuyer against loss resulting from title defects. The owner’s policy assures a purchaser that the title to the property is vested in that purchaser, and that it is free from all defects, liens and encumbrances. Continue reading