real estate information: What If I Don't Get Title Insurance? - 07/17/06 02:09 PM
In Maryland, title insurance consists of lender’s title insurance and owner’s title insurance.  The lender’s portion is mandatory in order for the bank to approve your loan.  The owner’s portions of the title insurance is optional.  The purpose of the title search is to disclose title problems, take appropriate action to clear the records and enable the transaction to be closed.
  In spite of all the work that goes into a search and examination of a title, hidden issues can emerge after completion of a real estate purchase which can lead to additional costs.  For example,
A forged deed that transfer no … (1 comments)

real estate information: Why You Need Title Insurance - 07/17/06 01:58 PM
When purchasing a home or other real estate, you actually don’t receive the land itself.  What you acquire is title to the property with the potential limits asserted by the rights and claims of other prior owners.  Paying your money and receiving a deed does not assure you of “good” title.  Title insurance plays a major role in making certain that your home ownership is free and clear of any rights or claims of prior owners.
  Problems with title can limit your use and enjoyment of real estate, as well as bring financial loss.  Title insurance protects you and your mortgage … (3 comments)

real estate information: What Is A CLUE Report? - 07/16/06 01:37 PM
Approximately 90% of all insurance companies contribute information regarding claims to an insurance industry database.  When underwriting a new policy the insurance company may obtain a report from this system from one of a couple different sources to determine the property’s claims history.  This report is most often identified as a comprehensive loss underwriting exchange report or a “CLUE Report.”  The report contains information regarding property claims filed in connection with a particular property and claims filed by a particular insured person.  For a fee the current owner of the property may obtain a copy of this report.  A copy of … (0 comments)

real estate information: When Should A Buyer Purchase Property Insurance? - 07/16/06 11:06 AM
You have located the home that you wish to purchase and before the transaction can be complete, you need to purchase property insurance.  When is a good time to make this purchase?  It is best for both buyers and sellers for the buyer to begin to search for insurance no later than the time of the contract to purchase is signed.  This ensures that the buyer will have the appropriate insurance well in advance of the settlement of the transaction.  Waiting until the last days or even weeks before the closing can limit the opportunities of the buyers and sellers to … (2 comments)

 

Cheronn Collins

Silver Spring Real Estate

Silver Spring, MD

More about me…

Century 21 Trademark Realty

Address: 11426 Rockville Pike, North Bethesda, MD, 20852

Office: (301) 230-2300

Mobile: (202) 497-5235



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