article thumbnail

Opinion: Title insurance is vital to protecting the American dream

Housing Wire

As someone who spent a career in the title insurance industry – both as a builder of a title business and leader of the industry’s trade group, — I am proud of the role we play in helping to protect what most Americans consider the biggest purchase of their lives. Why is a title search necessary for refinancing?

Insurance 518
article thumbnail

Buyer agency: a crucial historical shift in real estate

Housing Wire

Moreover, the absence of a buyer’s agent leaves the buyer to navigate the intricate process of drafting offers, negotiating repairs and other terms, as well as understanding legal intricacies such as mineral or water rights, easements, and even the transfer of livestock on agricultural properties to name just a few.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Red Flags Related to a Title on a Home

Will Springer Realtor

EASEMENTS: An irrevocable right to use some part of another person’s real property for a particular purpose. Most easements are routine, in which a utility company needs access to the property to maintain service of its electricity, water or internet.

article thumbnail

Home Appraisals – What Do They Look For?

D Fritz Appraisals

They are also used to assess the value of the home for home improvement loans and insurance evaluations. Valuation for insurance claims. Any existing easements or zoning issues. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer.

Appraisal 106
article thumbnail

ROV (Reconsideration of Value) Changes – FHA and GSEs

Appraisal Today

The clarifications were made to long-standing policies in our Guides intended to ensure the borrower has sufficient property insurance coverage in the event of a loss, and the February announcements did not change these policies. If buyers cannot get insurance or it is very expensive, it will affect value.

article thumbnail

Purchasing & Developing Land - Part 2 - The Process of Purchasing Land

Eppraisal

Factors that affect sales price were noted in the previous installment: the presence of easements; distance to utility connections; and environmental circumstances, for example. Buyers should make sure the most accurate and up-to-date survey is incorporated into the title insurance policy.

article thumbnail

3 Things You Should Know About Preliminary Title Reports

Zillow

It documents ownership, vesting, and detail regarding anything recorded against the home, such as liens, encroachments, or easements. The title company compiles the report from a search of county records to issue title insurance, and any liens against the property are listed as "exceptions" to a title policy. Easements.