MYTH: Title Problems hardly ever happen. FACT: ONE out of every THREE title searches reveals a problem with the title. Home-buyers may often wonder why they need Owner’s Title Insurance. As they rarely hear about claims, they assume it is an unnecessary expense. However, the fact is that 36 % of title searches reveal issues [...]
What Does Taking Title "Subject to" Mean? by DiAnna Jackman Senior Escrow Officer/Branch Manager Chicago Title Agency When you finally find that perfect investment property and run your numbers, be sure you read the entire contract before you sign. Many investor contracts will indicate that the buyer is to pay all closing costs. This can [...]
by Dianna Jackman, Sr. Escrow Officer Chicago Title Agency There is a new sheriff in town and its name is the CFPB. Beginning January 10, 2014, the Consumer Financial Protection Bureau will now be in charge of policing the mortgage industry under the regulations of the Dodd-Frank rules. According to the new rules under regulation [...]
Bank owned and short sale transactions have restrictions against selling to an entity instead of an individual, so there are concerns to be aware of when investing. When you take title in your individual name, there are some additional liabilities to consider. The most important is making sure you have the proper home owner’s insurance [...]
Due to the current lack of inventory, many investors have been thinking outside the box to obtain investment property in the valley. One thing I have started to see more and more of are note sale transactions. To most, note sales seem like easy money but there are a lot of twists and turns that [...]
Although the trustee sale market is a bit slow these days, it may be a good time to take a breath and learn about what survives trustee sales and what options you have to resolve them. Most all government related liens will survive a trustee sale. I am going to touch on a few of [...]