Real Estate One - Troy

Happy Holidays from REO!

This Holiday Season, we wanted to thank all of our agents & staff who truly are our family and friends! Thank you for your support throughout the year! We hope that everyone has an amazing holiday season filled with love, joy, and so many wonderful memories! ‪#‎happyholidays‬ ‪#‎realestateone‬

 2015 Memories

Troy Times Holiday Advertisement

TROY TIMES AD DEC 10 JPEG

Troy Times 8.20.15

TROY TIMES AD AUGUST 20TH JPEG

Troy Times 8.6.15

TROY TIMES AD AUGUST 6TH JPEG

Troy Times 7.23.15

TROY TIMES AD July 23rd JPEG

Troy Times 5.14.15

MAY 14TH  twitter

Troy Times 5.7.15

NEW AD MAY 7TH  jpeg

Troy Times 4.30.15

NEW AD APRIL 30TH jpeg

Deck the Halls and Get Ready to List!

During this time of the year, all that’s going through your mind right now is decorating, planning meals and your family’s wish list. The thought of listing your house hasn’t crossed your mind since the holiday hustle and bustle started and you don’t plan on revisiting the notion until well after the New Year. Although it’s not thought of as the best time to list, putting your home on the market during the holidays can actually give you a few advantages that you won’t get any other time of year.

Since it’s not the preferred moving season, you’ll find that buyers who are shopping during the winter months tend to be a little more serious when it comes to selecting their home. January is the month in which the most work transfers occur so you’ll find that these buyers generally have a truncated shopping period and can be much more decisive since they cannot wait until for the spring market.

On another note, is there a time of year when your home looks better than it does right now? Your twinkling lights and garland wrapped around the banister makes your house feel even more like a home and can help potential buyers see it as so. Your curb appeal may be masked by the 3 inches of snow covering the ground, but it’s nothing that your outdoor holiday decorations can’t bring back.

It’s also not uncommon to have less showings that you would in the spring time, but the few buyers that will be touring your home usually are already pre-qualified and very motivated. Moreover, it is also a time when the ratio of homes sold becomes significantly higher than homes going onto the market. With that comes less competition for you and a very good possibility of multiple buyers competing for your home.

It might seem to be a daunting task to add onto your hectic to-do list but it’s never a bad time to start thinking about making a move. Depending on your home and the current market, it may very well be the perfect time for you to sell and when you list with a Real Estate One agent, you can trust them to handle the sale of your home professionally and with care so that the holidays are still your only concern this time of year.

Understanding the Basics of Title Insurance

Purchasing a home, especially the first time, is an overwhelming process. It could take months for your head to clear from signing endless mountains of paperwork, making sure that you had your finances in order and pouring through countless dwellings during your quest for your dream home. Now that your offer has been accepted and the closing date is now in sight, the last thing on your mind is insuring the deed to your home.

What is it and why do I need it?

Title insurance serves to protect both the buyer and seller against financial losses from defects in the title or liens against the property. If institutional financing is necessary, you’ll find that almost all lenders require title insurance. The liability limit is usually the purchase price of the home and, in Michigan, is usually paid by the seller unless otherwise arranged.

There is more than one type of policy that can be purchased. An owner’s policy reassures the purchaser that the property title is without flaws and covers any losses or damages should any be discovered post-closing.

A lender’s policy does the same, but protects the financial institution should there be any inaccuracies uncovered during the lifetime of the mortgage.

What’s the worst that could happen?

Title insurance protects the homeowner or financial institution from many inaccuracies including unknown liens, undisclosed heirs, mistakes in the public records, boundary disputes- the list goes on. A good example of one of the main flaws that you can unknowingly inherit with your new home is acquiring a lien that you had previously no idea of. One recent transaction entailed a new homeowner receiving a $6000 water bill upon taking possession of their new house. Upon questioning the seller, it was discovered that they were sent a final bill which was their normal monthly amount of $37 and it had been paid prior to the sale closing.

The question then went to the listing agent who had only taken the final reading on the estimated exterior meter and hadn’t gotten the final numbers from the remote reader inside the home. It was then discovered that for years, there was a very slow leak in the water lines somewhere in the home and had accumulated an additional $6000 worth of water costs.

With both the current and previous owners refusing to pay it and the city not allowing any leniency on the bill whatsoever, who would bear this financial burden? That would be the title company that held the policy; the unknown water bill was technically an unknown lien and was covered by the policy purchased by the sellers.

What’s the process involved in getting insured?

Acquiring title insurance is actually a two-part transaction. The first part typically includes a very thorough search where property records are combed through in order to find any errors, liens or even undisclosed heirs of said property.

The second part consists of the actual underwriting of the loan. During the first process, 1 out of every 3 of those property examinations exposes an issue that was previously unattended to.

Purchasing a home can be stressful enough; having title insurance gives you a little more added protection as well as peace of mind. It’s important to not only protect yourself but also know what that protection extends to; don’t be afraid to ask questions of your agent about insurance. It’s essential to be prepared for the worst- it could save you thousands of dollars in the long run.

Follow

Get every new post delivered to your Inbox.

Join 1,360 other followers