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Architecture Guide
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Take a Quiz
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Young Professionals
REALTOR® Emeritus |  | GETTING TO CLOSE | | ||
|  Keep the Transaction on Track Advanced Tip Advanced Tip Advanced Tip Broker Tip Getting to Close Advanced Tip Mortgage Basics Advanced Tip Advanced Tip Advanced Tip Inspections and Repairs Broker tip Closing Countdown Advanced Tip Going for the Close Advanced Tip Advanced Tip Advanced Tip Commission Disbursements Broker Tips Broker Tip Post-Closing Strategies Quiz: Contract to Close Bright Ideas: Contract to Close Code of Ethics: Contract to Close More Resources: Contract to Close | 7 Reasons Buyers Need Title Insurance Title insurance can help ensure the buyer and the lender that title defects will not make a property unsaleable in the future because of: 1. Forged documents 2. Undisclosed heirs to the property 3. Mistaken legal interpretations of wills or trusts 4. Misfiled documents—deeds, liens, mortgage satisfaction documents 5. Confusion caused by similarities in names 6. Incorrect marital status 7. Mental incompetence Adapted from Real Estate Checklists and Systems, Kim Daugherty, Gundaker, REALTORS®, Maryland Heights, Mo. TIP: Remind buyers that because the lender’s liability under a title insurance policy is usually limited to the outstanding balance of the mortgage, it may be possible to cancel this insurance when the loan balance has been reduced sufficiently. TIP: Review the title policy for any exceptions or judgments against the sellers that might derail the closing. —Peter Lopez, Real Estate Business, Council of Real Estate Brokerage Managers and Council of Residential Specialists, Fall 1996 5 Basic Components of Homeowners' Insurance > | |