Doma’s Post

Closing costs are expenses beyond the price of the home you're buying. This includes any fees, discount points, title insurance, escrow, and more. Your lender can help you understand these costs, so you're prepared - there's nothing worse than surprise fees! #ItsOKNotToKnow

When purchasing a foreclosure property, it's highly advisable to obtain title insurance. While foreclosed properties may come at a discounted price, they can also come with potential title issues such as liens, unpaid taxes, or other encumbrances. Title insurance protects you as the buyer from these hidden risks, ensuring that you receive clear and marketable title to the property. It's a vital safeguard for you and your investment. Be Absolutely Clear®

When purchasing a foreclosure property, it's highly advisable to obtain title insurance. While foreclosed properties may come at a discounted price, they can also come with potential title issues such as liens, unpaid taxes, or other encumbrances. Title insurance protects you as the buyer from these hidden risks, ensuring that you receive clear and marketable title to the property. It's a vital safeguard for you and your investment. Be Absolutely Clear®

Curative work is an action performed to produce a clean or marketable title. This is done before a transaction closes. 🌟 36% of transactions require substantial curative work. 62% of files require at least 4 curative actions per transaction, on average. The most common types of curative actions resolve issues related to loan payoffs, property taxes, and home owner association dues. Time to close a file: Standard file= 22 work hours. Difficult files that require substantial non routine title clearance efforts= 45 hours. When buying a home, Americans want to know they own that asset; title insurance provides that assurance. 🌟 Read the full report at: https://lnkd.in/ghwbJ3-6

Curative work is an action performed to produce a clean or marketable title. This is done before a transaction closes. 🌟 36% of transactions require substantial curative work. 62% of files require at least 4 curative actions per transaction, on average. The most common types of curative actions resolve issues related to loan payoffs, property taxes, and home owner association dues. Time to close a file: Standard file= 22 work hours. Difficult files that require substantial non routine title clearance efforts= 45 hours. When buying a home, Americans want to know they own that asset; title insurance provides that assurance. 🌟 Read the full report at: https://lnkd.in/gg9qgArK

❗ ❗ UPDATE ❗ ❗ In a recent announcement, the White House has initiated a pilot program aimed at reducing closing costs for homeowners by waiving the requirement for lender's title insurance on certain refinances. However, the American Land Title Association (ALTA) has voiced strong concerns, highlighting that this move poses a false promise of savings and risks greater financial instability for consumers, lenders, and taxpayers alike. Title companies, often overlooked, play a foundational role in safeguarding the American Dream. They ensure that a homeowner's property is free from any undisclosed liabilities, offering peace of mind and protection. This recent development has faced bipartisan opposition, underscoring the importance of engaging with and understanding the critical role of title insurance in maintaining the integrity of homeownership in America. Title companies remain essential in providing homeowners the solace and security that their property is clear of any issues, allowing them to fully embrace and achieve the American Dream. 🗽

Often times real estate brokers/agents & lenders will enter into profit sharing arrangements that can earn them up to 50% of the cost that you pay title insurance. ALT does not participate in these arrangements, giving us the ability to eliminate unnecessary fees making buying and refinancing real estate more affordable. https://lnkd.in/eKGSnizs

🚨 Only 𝟯 𝗱𝗮𝘆𝘀 𝗹𝗲𝗳𝘁 until our can’t-miss Lunch & Learn on May 23rd‼️Gear up for an insightful session that could change the way you handle transactions! 📚 𝗧𝗼𝗽𝗶𝗰𝘀 𝘄𝗲’𝗹𝗹 𝗰𝗼𝘃𝗲𝗿: 🗝️ 𝗕𝗮𝗻𝗸𝗿𝘂𝗽𝘁𝗰𝘆 & 𝗦𝗵𝗼𝗿𝘁 𝗦𝗮𝗹𝗲𝘀 This course will focus on how bankruptcies effect real estate transactions, the common types of bankruptcies, and the ins and outs of short sales. 🗝️ 𝗪𝗵𝘆 𝗘𝘃𝗲𝗿𝘆 𝗛𝗼𝗺𝗲𝗯𝘂𝘆𝗲𝗿 𝗡𝗲𝗲𝗱𝘀 𝗢𝘄𝗻𝗲𝗿’𝘀 𝗧𝗶𝘁𝗹𝗲 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 A Title 101 course that will teach you everything you need to know about why every homebuyer needs title insurance and how it will give you and your clients protection and peace of mind. Grab your spot, earn 𝟮 𝗵𝗼𝘂𝗿𝘀 𝗼𝗳 𝗖𝗘 𝗖𝗿𝗲𝗱𝗶𝘁, and enjoy a 𝗳𝗿𝗲𝗲 lunch with us! Seats are filling fast—don’t wait! ➡️➡️ 𝗥𝗦𝗩𝗣 𝗡𝗼𝘄: bit.ly/CE_Credit_RSVP

𝗚𝗼𝘁 𝗮𝗻 𝗮𝗻𝘀𝘄𝗲𝗿? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆! A written summary of the history of all conveyances and legal proceedings affecting a specific parcel of real estate is called a(n): A. affidavit of title. B. abstract of title. C. title insurance policy. D. certificate of title. 𝗔𝗻𝘀𝘄𝗲𝗿: B. abstract of title. 𝗘𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻 An "abstract of title" is a written summary that traces every change of ownership and claim against a property (such as mortgages, liens, and easements). In some cases, the abstract goes back to the last change of title, in others to the first recorded owner. It is part of the title report required by virtually all lenders.

𝗚𝗼𝘁 𝗮𝗻 𝗮𝗻𝘀𝘄𝗲𝗿? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆! A written summary of the history of all conveyances and legal proceedings affecting a specific parcel of real estate is called a(n): A. affidavit of title. B. abstract of title. C. title insurance policy. D. certificate of title. 𝗔𝗻𝘀𝘄𝗲𝗿: B. abstract of title. 𝗘𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻 An "abstract of title" is a written summary that traces every change of ownership and claim against a property (such as mortgages, liens, and easements). In some cases, the abstract goes back to the last change of title, in others to the first recorded owner. It is part of the title report required by virtually all lenders.