The Importance of Title Insurance

There are two kinds of title insurance policies you need to be aware of: the Owner’s Title Insurance Policy and the Lender’s Title Insurance Policy. Not knowing how each works can leave you vulnerable.

Buying a home?  Get a free home scouting report

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Today I’m joined by Rob Lindley of Canyon Title to discuss what you need to know about title insurance.

There are two different types of title insurance policies that most people buying a home need to be aware of. The first is the owner’s title insurance policy, which insures your ownership of your asset. The second is the lender’s title insurance policy, which ensures that the lender that’s loaning you the money for the home is in the appropriate lien position against the title of the property.

Why would you need a policy when the lender has their own? The lender’s title insurance policy is only ensuring that the lender doesn’t incur any financial loss if some kind of problem arises. If you don’t have an owner’s title insurance policy and you were to lose money as a result of some sort of defect on the title, the insurance company wouldn’t pay you—they would only pay the lender.

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Not having title insurance can leave you financially vulnerable.

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Not having title insurance can end up costing you in unforeseen ways. For example, say the home you purchased had a kitchen fire three months before you purchased it and the owner hired someone to repair the kitchen for $100,000. After they sold that property to you, if they didn’t pay that $100,000 for the kitchen, you could be financially responsible for the repair costs.

If you need more information from Rob, you can reach him by phone at (303) 831-7575 or visit canyontitle.com.

If you have any more questions, feel free to email me or give me a call. I look forward to helping you in any way I can!

10 Buyer Tips for Finding the Perfect Home

Buying a home can be a complicated, overwhelming process. Today, I have 10 tips to help you find the perfect home.

Buying a home?  Get a free home scouting report

Looking for a home loan?  Start a mortgage application

Today I’m here with 10 tips for buyers to help you find the perfect home.

1. Go for the long haul. Think of somewhere you want to live for at least five to seven years. You will have to do some investigation about what’s going on in the community, and trust me, you will be glad you did.

2. Leave room for growth. You never know if you will have a child or if a family member may need to move in with you for a while. Even if you get a pet, having extra space is a good idea.

3. Be flexible. Look at homes that have rooms that can be converted for other purposes as you live there. That way, you won’t have to move as often.

4. Go for what fits you. You may need a condo, house, or duplex. Go for what fits you. This decision isn’t always based on the price or your budget, so get your Realtor involved in order to pick the right home for you.

5. Check your surroundings. The best thing you can do is go to the local grocery store to get an idea of what the community is like.

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Go for what fits you.

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6. Buy what you can afford. Don’t buy a home thinking that you may be able to afford it in the future. Doing so will only put you in a tough situation down the road. A good loan officer can help you with this step.

7. Think about your home first. Imagine what your life will be like in this house rather than focusing solely on the property’s resale value. You may be living there a long time.

8. Look at old and new homes. Both old and new homes have different pros and cons and different costs associated with each.

9. Location, location, location. As you think through some of these tips, you should always keep location in mind.

10. Think about what will happen when it is time to sell. It doesn’t always make sense to buy the white elephant because when it comes time to resell the home, you will be limiting the pool of potential buyers. Although you should think of the house as your home first, you shouldn’t completely forget about resale value.

If you have any questions about the home buying process or about real estate in general, give me a call or send me an email. I would be happy to help you!

How to Make the Home Buying Process Less Stressful

The home buying process can get quite stressful, but it doesn’t have to be. We’ve got some great tips to share with you that will help you manage your stress during this time. Most of these are simple tasks, but many people fail to do them. Here are 8 stress-relieving tips:

1. Take time out. Take some time to meditate, relax, or do yoga. If you hire a great agent, they can relieve a lot of stress for you right off the bat.

2. Eat well-balanced meals. This is usually a 30-day process. It’s a great way to get your body and mind right.

3. Limit alcohol and caffeine. Many people gravitate towards these things during the home buying process, but you shouldn’t. You’ll feel better in the end.

4. Get enough sleep. Eight hours is ideal, although not everyone can get that. Get as close to eight hours as you can.

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These simple tasks can make the whole process less stressful.

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5. Exercise. Moving around and exercising are great ways to relieve stress. Even getting out to do some power-walking can help.

6. Sit back and count backwards from 20. This will relax your mind and help you focus on your end goal instead of your current struggles. Try it and see how it works.

7. Stop aiming for perfection. Things are never perfect, and you shouldn’t look at homes under a microscope. Rely on your agent and loan officer to work together to find a great home that you’ll be happy in. A few minor flaws are no big deal.

8. No one person can control everything in a real estate transaction. Once you accept that there are a lot of different moving parts that need to be aligned, you can trust the people you’ve hired to do their best.

If you have any other questions for me about relieving stress or buying a home, I would love to hear from you. Give me a call or send me an email. I look forward to hearing from you!