What Is Title Insurance | Should I Buy An Owner’s Policy?

What is title insurance and should I purchase an owner's policy


Well, before we discuss the main topic “what is title insurance?,” you should first understand what a title is. Simply stated, the title to a piece of real estate property is evidence that the owner (homeowner) is in lawful possession of that property.

Title insurance is a form of insurance that protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the piece of real estate property. Each title insurance policy is subject to specific terms, conditions and exclusions.

Title insurance for property owners, called an “Owner’s Policy”, is usually issued in the amount that the piece of real estate property sold for. When buying a home, and owner’s policy is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property. Only an Owner’s Policy (title insurance) fully protects the buyer should a title problem arise that was not found during the initial title search. Possible hidden title problems can include:

1) Errors or omissions in deeds

2) Mistakes in examining records

3) Undisclosed heirs

4) Forgery

SHOULD I PURCHASE TITLE INSURANCE? The short answer, “Yes!” Title insurance is extremely important for a few reasons. Number one, title insurance will insure that the title is clear and if it isn’t, the title company is responsible due to overlooking the title problem and will cover any claims. Number two, title insurance will give you peace of mind that the biggest purchase you’ll ever make is insured. Number three, the amount that you pay for title insurance (owner’s policy) is minimal compared to what a “dirty title” could cost you.

Ohio Real Estate Guys
28 E. Rahn Rd. #213
Kettering, OH 45429
(937) 490-9743

4 Tips For Selling Your Home in The Fall

Fall Season - Selling a Home in The Fall

Selling a home in the Fall? Whether you’re buying a home or selling a home in Dayton Ohio, it’s important to understand that fall is the second busiest time for home sales in the Miami Valley. Fall is an extremely popular time of year for home buyers (first time home buyers, retirees, and those who are relocating to Wright Patterson Air Force Base). Currently, home buyers also want to take advantage of record low mortgage rates (under 4.0%) and they want to close and be moved in before the holidays. With fewer houses on the market, sellers may even get more attention in the fall than other times of the year.

Follow These 4 Important Tips When Selling A Home In The Fall:

1) CURB APPEAL: Whether you are buying a home or selling a home, curb appeal is the very first thing a potential buyer views. Generally speaking, buyers will search homes online before settling on 4-5 homes to view in person. If the buyer drives by your home and the exterior is looking it’s absolute best, they are more likely to contact a local Realtor and schedule a showing.

2) PRICE YOUR HOME TO SELL: The average home buyer searches over 50 homes before settling on 4-5 to view in person. Home buyers are smart, they are well informed, and they have compared home values from places like Zillow, Trulia and even the County Auditors website. When selling your home, you can price the home at any value you like – but the price your home will actually sell for is determined by the your local real estate market. If your home is priced too high, buyers won’t even look at the property, let alone make an offer. This time of year buyers are ready to make an offer and close on the home rather quickly, which is why you should price the home correctly the first time. Remember, if your home is not priced correctly, you could be holding onto the home throughout the entire Winter.

3) INCREASE YOUR HOMES WEB PRESENCE: A strong web presence is the new “curb appeal.” When listing your home for sale, make sure you choose a web savvy Realtor with advertising knowledge that is effective in today’s real estate market. Make sure to showcase plenty of pictures of your home online. Colorful fall foliage helps make your home look warm and welcoming.

4) MOVE IN READY: Buyers are looking to buy homes that are move-in ready, so take care of improvements and repairs now. Home buyers are less interested in working on a home in the fall than springtime. If the home needs new carpet, have carpet installed. If you need to paint rooms, hire a local painter or paint the rooms yourself. When potential buyers view your home, you want them to imagine themselves moving in and relaxing. The same thing can be said for repairs. If the home needs minor repairs, make the repairs yourself or hire a professional. Note, hiring a professional is much less expensive than an offer from a potential buyer who feels like he/she has tons of work to do.

Horrible Odors: Sense of Smell & Selling A Home

Selling A Home With Urine Odor

Pleasant scents in the home are only effective when they are not being used to cover up a horrible odor. Have you ever walked into a gorgeous, jaw-dropping home that reeks of a previously cooked sauerkraut dinner, cigarette smoke or pet urine?

Here is a list of my favorite scents to use while holding an open house or before you know a potential buyer is going to be viewing the home.

1) FRESH SCENT: Simply open the windows and doors on a nice day; the most effective scent is sometimes no scent at all. Artificial scents may indicate a cover up of an existing odor, as well as pose as a distraction for potential buyers.

2) LEMON or ORANGE: The fresh and vibrant scent of lemons and oranges are said to make people happy. In past experiences, I have had great success with opening all doors and windows (fresh scent) and placing pitcher of chilled water with sliced oranges and lemons for buyers to drink while touring the home for sale. This generally leaves people feeling refreshed and rejuvenated.

3) PUMPKIN: When holding an open house during fall & winter months, pumpkin scent can be both cozy and comforting to guests. You can either light a pumpkin-scented candle or put out a tray of freshly baked pumpkin bread. This will leaver your guests feeling welcomed.

If you have some favorite scents that have worked well in the past when holding an open house, we would love to hear your thoughts and ideas.