seller Archives - Page 15 of 16 - Title First Agency

Title Insurance Myths

MYTH: Nobody needs title insurance

Everyone needs title insurance. You may think you know the entire history of the house you’re purchasing, but it’s impossible to know everything. Title insurance protects your right to the property in the event that a previously unknown heir claims ownership of the property if it is later revealed that the “sellers” were not the rightful owners, or if liens against the property resurface. If you have an owner’s title insurance policy, you will not be responsible for paying any of the fees associated with protecting your right to the property, should these types of issues arise.

MYTH: New construction homes don’t need title insurance

Your home could be brand new, but the land on which the house is built isn’t. Chances are, the land had several previous owners before construction began. Buying property on such land opens you up to certain risks tied to ownership issues from previous owners.

Disputed wills, easements, and property liens are just a few of the issues common to land ownership. You could get caught in between the mess and end up losing your resources or, worse still, your new property as well. Title insurance is crucial even for a new home and should be among your list of priorities during the closing process.

MYTH: If no one challenges ownership, then the title policy is a waste

At the closing, when you purchase a title insurance policy, the closing company does the bulk of the work behind the scenes. The title company goes through many steps to make sure that everything is in place by that time, including conducting a comprehensive title search and identifying any potential issues. The team investigates the entire history of the property to ensure that you, the buyer, will be aware of any problems that will need to be addressed before closing. By the time the closing comes around, the title company has completed a great deal of research and legwork for you.

MYTH: Title insurance offers only minimal protection

When you purchase a home, you receive the “title” to the property. This title is your legal right to own it. Early in the home buying process, a title search is conducted to review the history of the property and uncover any issues that could limit your right to ownership. Even after the most meticulous search of public records, there can be hidden title defects, such as tax liens, forged signatures, claims by ex-spouses, and recording errors. These title defects can remain undiscovered for months or even years after you purchase the home.

MYTH: Title insurance is the same thing as homeowner’s insurance

Homeowners insurance protects you so you have the resources to pay for any damage that might occur to your property. Title insurance protects you from anyone else claiming your home is theirs or for some prior owner’s back taxes or encumbrances or any other real property dispute

Title First Agency: Dedicated to innovation and passionate about service, Title First Agency is your comprehensive, nationwide resource for title and real estate settlement services. Headquartered in Columbus, Ohio, Title First has branch offices throughout the Midwest and a robust virtual partner network throughout the country. Title First got its start in 1956 as an affiliate of a local law firm and has since emerged as one of the largest independent title agencies in the nation. Proudly servicing Realtors, lenders, builders, developers, law firms, buyers and sellers, Title First is equipped to serve your residential and commercial title and settlement needs.

Share This Post

Buyer’s Market Vs. Seller’s Market

What is a Buyer’s Market?

A buyer’s market occurs when the availability of homes (supply) exceeds the number of buyers looking for a home (demand). Anyone looking for their next home to buy, a buyer’s market is the ideal time to make the move. The ability to but a fabulous home for a lower cost is greater.

Homes may remain longer on the market if trying to sell during a buyer’s market. There are so many homes available thus securing a buyer is tougher and lowering the price might need to happen.

What is a Seller’s Market?

A seller’s market occurs when demand exceeds supply. In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage.

In a seller’s market, homes sell faster, and buyers must compete with each other in order to score a property. These market conditions often make buyers willing to spend more on a home than they would otherwise. Therefore, sellers can raise their asking prices.

Due to the shortage of housing, these conditions often lead to bidding wars. During bidding wars, buyers will make competing offers and drive up the price, typically above what the seller initially asked for.

Determining if it’s a Seller’s Market or a Buyer’s Market

You can use supply to determine if the market favors buyers or sellers. As a general rule, a neutral market will have 6 months of housing supply. This means that if there’s less than 6 months worth of inventory, it’s a seller’s market, and if there’s more than 6 months’ worth of inventory, it’s a buyers market. When determining if it’s a buyer’s or seller’s market, you must look at housing supply on a local level, usually by neighborhood or zip code, as it’s not uncommon for areas in the same city to be in different markets.

How well a home is bought or sold is dependent upon the market the home is currently in. Just because the news says the nation is in one market doesn’t mean it is the same everywhere. Meet with a Realtor for the best information. Any strategy used to buy or sell a home is also dependent on the market it is in and the Realtor. Choose an agent wisely, stick to the strategies and homes can be bought and sold in any market.

Share This Post

Choosing a Realtor

Looking for the best real estate agent, one that is an experienced professional who listens to your concerns and knows their market? That person might not necessarily work at the largest brokerage, close the most transactions, or make the most money. Real estate professionals have a saying that 20% of the agents do 80% of the business. Your goal is to find one among that that 20% to work for you, but it’s not as challenging as you might think.

Read Reviews

Online reviews are one of your best assets when it comes to choosing a realtor. Read all of the reviews that you can find before selecting who you’ll work with, and look for an agent whose previous clients have only positive things to say about their experiences. However, if you read one with great reviews as well as c few complaints, be able to distinguish whether the complaints are about the individual realtor versus complaints about the stress of the home buying process itself.

Ask friends, families, coworkers, and anyone else whose opinion you trust if they have any local agent referrals. Previous buyers are one of your best assets for finding a great Realtor since they can speak honestly about their own experiences. Plus, you can trust that if someone you know is giving you a recommendation, chances are it’s because they enjoyed working with that agent and would work with them again.

Interview A Few Agents

Real estate pros urge buyers and sellers to interview at least three agents.

Always ask an agent for a list of recent references.
Ask each agent you’re considering how they plan to help you find the perfect home (for buyers) or market your home (for sellers)
Note how an agent responds to your inquiry. If the answer is fast, thorough, and informative, there is a good chance you will get that type of service throughout your buying or selling process.
Ask to be provided a list of their recent sales, not just a general number of sales or sales volume.

Listing Price Determination

No one, not even the best Realtor can tell you how much your home will end up selling for. Good Realtors will show you comparable sales, pending sales, and active sales in your neighborhood and surrounding areas. Ultimately, the buyer tells you the price that is right. The Realtor you choose should suggest a list price that will attract that buyer and then where it goes from there is up to the buyer.

Consider this:

To get a listing, sadly there are Realtors out there that will bend the truth. Since they can not guarantee a sales price, the Realtor that quotes you the highest price should be able to back that up with facts and figures. If the agent does not have any good stats, that might be a red flag.
Watch for the Realtor that gives you a range of prices that depend on factors such as location, the market and any improvements you have made in your home.
Pricing a home is an art. Realtors have no control over the market, only the marketing plan. If it is priced right, you’ll get an offer. Priced to high, you might not get a single showing and end up reducing the price leaving buyers to try to figure out what is wrong with your home.

Share This Post

Kitchen Changes to Sell a Home

First Friday Feature: An Updated and Modern Kitchen | Kitchen ...

The kitchen is king. A newly renovated kitchen can help you sell your home for more money and sell your home faster. But, before you take on the work, prospective sellers should talk to the Realtors local to them and find out how they compare to the rest of the market. Find out what their home, their kitchen in this instance needs to have for the buyers out there looking for a new home. Often the kitchen can make or break a home sale. Kitchens can be the deciding factor.

Clean

The cheapest thing to do is to start with an immaculately clean kitchen. Clear counters of clutter and remove any items from the tops of cabinets and the refrigerator. This makes the kitchen appear larger and getting rid of any personal items will help potential buyers focus on seeing their own things in the area.

Paint

Fresh paint is a relatively inexpensive way of changing the entire look of a room. Opt for light, neutral colors. There is an endless amount of primers and paints available now, making it easy to really make a transformation. Sometimes just cleaning and painting is all it takes to make your kitchen look totally transformed!

Cabinets

It might not be in the budget to change out the cabinetry completely, but there are little things that can be done to create a total makeover.

Replace doorknobs and drawer pulls with classic finishes such as brushed nickel or stainless steel for a brand new look. Hardware stores carry a variety.
Painting cabinets always make an instant upgrade. Ask a knowledgeable Realtor what color is the most popular. Add a pop of color by simply painting the inside of the cabinets.

Backsplash

Have some fun with this update. Make a bold statement or blend it into the background. If it is outdated, it’s fairly simple to replace it DIY. This is a way to help make a kitchen stand out from the others on the market. Realtors often select subway tile and while white is the most popular, a color can be used to coordinate with the countertops.

Flooring

Refinish wood floors or replace broken ceramic tiles. For scratched, torn, or faded linoleum, it might be time for a complete redo. Most Realtors will confirm that hardwood flooring is the biggest preference closely followed by tile. Consult with a good Realtor on which is the best seller in the neighborhood.

Countertops

A bigger job but can make an incredible difference in the kitchen. If changing the countertops and living in the home for a time before selling it, install what is enjoyable to live with but will also add value. If changing countertops to sell a home, upgrade to the standards of the neighborhood.

Lights

Replace old and outdated light fixtures with pendant lights. Spray paint any brass fixtures. Upgrading lighting fixtures can help improve potential buyers’ first impressions. Buyers all know they will spend most of their time in the kitchen and proper lighting is a good purchase. Proper lighting can make the difference between a dull room and a rich first impression.

Stage

Potential buyers want to envision themselves and their “things” in the kitchen. Again, have a Realtor that will speak the truth of what should be done.

For eat-in kitchens, use a smaller table and chairs to make the area appear larger. Place a throw rug under the table to define the separate space.
A few well-placed plants bring life and warmth.
Add gourmet touches to your now cleared counters such as a bowl of polished fruit, a full bottle of herbed olive oil, or a small wine rack.
Polish fixtures, replace light bulbs, and dust every corner.
Remove magnets from the refrigerator to help depersonalize.
Window treatments should be light or neutral colored.
Stow cleaning products under the sink.

The Botton Line: First impressions really matter in Real Estate. Within seconds, we all decide whether we like something or not. The house might be in the best neighborhood, but if the first impression isn’t up to par, it will be tough to sell. And, again, the kitchen is still king when selling a home and a “modern, updated kitchen” tops the list every time in surveys.

Share This Post

Four Things You Can Do Right Now To Get Your Home Ready To Sell

Price: An unrealistic price tag is the top of the list. Most of the time when a home isn’t selling it is because it is overpriced. No matter if the market is a “buyers” or a “sellers”, no one will overpay for a home. A Realtor with experience especially one that knows your neighborhood will help you to evaluate and set the right price. Search the internet to find a Realtor.

Landscaping: The very first thing buyers see when they pull up to your home for sale is your yard – the lawn, the plants, flowerbeds. You don’t have to spend a lot of money. Mow your lawn, remove sticks and leaves, trim your bushes, add some mulch in flower beds and trim trees if needed. Clean the gutters, patch up the driveway and the concrete walkways. If you have a fence, look for where it might need repairs. Add some potted plants.

Exterior: Not only will buyers notice the landscaping, but the outside of your physical home will speak volumes about what the inside looks like. There have been times that buyers cancel going into the home just by judging the outside. Consider updating projects that will make a big impact on the look of the home. Repairs like, roofing, siding and replacing windows. Or simple projects like painting the front door & adding new hardware to it. Rent a pressure washer for the exterior to get rid of dust, grime, and mildew.

Depersonalize: Take the “home” out of your house. Spend time gathering personal items like family photos, memorabilia, personal keepsakes and anything political. You want future buyers to be able to picture themselves in your home. Most of the items in your bathrooms are probably personal, makeup, toothbrushes, bathrobe, etc. The best rule of thumb is to remove everything from your bathroom counters and in bathtubs and showers first. Then put back only a few decorative items like a hand towel, bath salts or candle but no personal care products.

The Bottom Line: Everyone is limited right now on where they can go. The safest place to be is at home. So, if you are planning to put your home on the market there are many things you can do while you are in “lock-down”. If you really think about it, there has never been a better time than now to get projects done at home.

Share This Post

Realtors: Partner with Title First Agency

Realtors: We are your first title company partner. As a trusted partner of Title First Agency, you can expand your coverage and grow your business. We are licensed and do direct business in 30+ states and have strategic relationships in all of our non-licensed states.

JOIN OUR NETWORK

Through a partnership with Title First, you can maintain control of client communication, deliver exceptional service and realize potential revenue you have lost in the past – all while remaining fully compliant with RESPA regulations. By working with us, you can accept more title orders from your clients, expand your footprint, and not have to obtain additional licensing in states where your business does not justify the expense.

Benefits of partnering with Title First:

Grow your business outside of your footprint
Continue to serve your clients as they grow
Maximize your revenue
Customize your program with us to serve your client
Work with a single point of contact
Work through integration and automation
See all of your transactions 24/7 on our secured Transaction Center web portal
Have unlimited access to some of the largest Underwriters

Share This Post

Questions You Need Answers To Before You Buy A Home

Buying a home is about the largest single investment you’ll ever make, and you should spend a lot of time and investigate for the perfect house for your family. You must get answers to questions that will give you peace of mind in your purchase. Hopefully, you have found the best Realtor who will help you get to the bottom of these questions:

Why is the house for sale: You may not get the real reason why. There are many reasons why people move, including job relocation, desire to get into a smaller/larger house, life events (marriage, the birth of a child, death of a spouse, or other reason) and retirement. But, if you can get an answer it might help in the negotiation of price.

How long has the home for sale been on the market? If it’s been more than 60 days, chances are you will have more room to negotiate.

How old is the roof? A roof generally lasts between 15 and 50 years, depending on its materials. If you know how old the roof is, and what type is, you will better be able to determine how long it will last and calculate that into your offer price.

What was the previous selling price? If you know how much the seller paid for the home you will be able to see the value of the local market that the home is in – has it gone up or down. If they paid a lower price, they may be willing to negotiate. If they bought it close to what they are asking for, they most likely won’t budge.

Is there radon in the home? Radon is a colorless, odorless, radioactive gas that’s found in about 1 every 15 homes. Most Realtors will tell buyers to get a test done. If the home is found to have it, it will be safe to live in once the radon remediation occurs.

How is the school system? This really matters even if you don’t have children. The quality and rating of the school system affect the value of your home. The next buyers may have kids.

Has there ever been a pipe burst? A good inspector usually can tell if water damage has occurred, and any damage should be disclosed by the previous owner at the time of sale. The big problem from water damage is moisture problems we are unable to see, behind drywall and trim which leads to mold. A mold remediation professional can tell you if mold is present and how to remove it.

Any signs of pests? Another disclosure that should be made by the owners at the time of the sale. Even if they had a past infestation and dealt with it and can offer proof, such as a receipt for pest control it doesn’t mean the pests are gone for good. Whatever conditions made the home ripe for infestation- a slow leak under the house, rotting wood, or even a total neighborhood situation, get the answers with help from your Realtor.

There are many more investigative questions to ask and hopefully, you have the perfect Realtor that will do a search for all the answers to any questions you may have. Nothing is off limits – this is your investment.

Are there sex offenders in the neighborhood?
What is the slope of the driveway?
How old are the appliances?
How many offers has the seller gotten?
What type of foundation?
What is included in the sale?
Are there any neighborhood nuisances?
Any lead paint?

The Bottom Line: A conversation with the seller and their Realtor and a review of public records can fill in any blanks to help you make the best decision. Also, you can contact city hall and the county’s property appraiser.

Share This Post

What Not To Do Before Listing Your Home For Sale

Don’t Spend A Lot of Money on Improvements: It’s tempting to make expensive changes to your home allure prospective buyers. Too many times, sellers put a lot of money into fixing up their homes before listing it. Make an appointment with a skilled Realtor who knows your neighborhood well and can give you advice on what improvements are the most important to tackle. The Realtor will help you to weigh the cost of the proposed upgrades against the market value of your home after the improvements are made. Sometimes, it isn’t applicable to do anything if you won’t get a return on your money.

Don’t Ignore the Outside of Your Home: It’s always a good idea to spend a little extra money on landscaping, and you honestly don’t even have to spend a huge amount to improve the outside of your home. Mulch, bush trimming, plant flowers, tree branch removal, and a fresh cut lawn can speak volumes and set your home apart from the competition. The first impression can make or break your chance to sell your home with a profit. Prospective buyers do drive-bys and often don’t bother putting a home on their list to see the inside if the outside isn’t attractive. Or, they will use an unkempt yard excuse to lowball an offer.

Don’t Overprice Your Home: Prospective buyers are not going to overpay for a home. This is quite possibly the worst home listing mistake. You should choose a Realtor who will have all the neighborhood comparables printed out and ready for you. Remember, there is so much information out there on the internet and the average buyer is pretty real estate savvy. They are able to drum up any information they can find to show your home is overpriced. Then, there is the “typical time frame” that a home should sell in every market and if your home has surpassed that, buyers will know your home is probably overpriced.

Don’t Overlook the Small Details: Are the appliances working? Lights? Hardware on cabinets and doors all tightened and clean? Closets decluttered? Odors from pets need to be tackled. Are the carpets and air ducts clean? Scratches off the wall? All of these are easy fixes and you may not notice any of them, but buyers will.

The Bottom Line: Homes that need repair often deliver lower prices in any market. Buyers won’t even bother with homes that need the slightest work. Do the work in researching the best Realtor in your area who will be able to give you straight answers and guide you in what you must do and what you can pass on before listing your home.

Share This Post

The Relationship Between a Title Agency and a Realtor

Title First Agency works hard to ensure a seamless experience for Realtors and their clients. From contract to closing, Title First handles all the details to help your transactions run smoothly and close on time.

Access to Property Information:

Title First Agency can help Realtors by getting the names, addresses and phone numbers for properties that their client are interested in buying. Maybe the buyer wants to find a home of a certain age or in a particular area – whatever it may be, a Title First Agent has the ability to access a lot of data and can find the information needed. Buyers often drive around neighborhoods that they want to live in and see the perfect home for their family. A Title First Agent can look up the information of who owns the home and how long they have been there at the exact address. This will enable the Realtor and the buyer to put together a homebuyers letter to owner.

Advertising and Marketing:

Title First can assist Realtors in promoting their business with our full line of marketing solutions. For your next listing, make a good first impression on potential clients and prospective buyers with a bound presentation of property information. We have the ability to help you design, print and mail your full-color glossy, postcards. Use our Net-to-Seller tool that will help estimate a client’s profit and present it in a professional format to be shared. Or, give our Title First Agent App a try to provide a higher level of service to your clients. This app will enable you to give quick and easy estimates to any real estate financial question. The app features net sheets, quick estimates, closing,costs, prorated taxes and much more. Finally, email us your MLS link, logo and personal photo and let us create a professional full-color info sheet for your listing.

Legal Expertise:

Title First Agency has experienced real estate lawyers who have worked many years through settlements and closings. It’s an invaluable asset to always have legal experts on hand with a good title company. The buyer, seller and you, the Realtor, can have peace of mind that purchases and end-to-end processes of closing on a property are performed seamlessly and on time.

The Bottom Line: At Title First Agency, we measure our success by your success. That’s why we offer a variety of services to help you grow your real estate business. Beyond the above listed services, the issuing of insurance, and performing title searches, we can manage the escrow account for the home sale. We safeguard all money and documents related to the transaction for the parties involved, such as the deed to the home, closing costs, earnest money deposit and the down payment.

Share This Post

Avoid These Three Mistakes When Selling Your Home

There are plenty of options that sellers can unconsciously do to derail their home selling process and make it more difficult to sell their home. It’s both an emotional and exhilarating time and even with family history attached to your home, it’s best to shelve any sentimental feelings. There are too many mistakes that can happen and cost you money or even the sale of the home. Here are three mistakes that are the most common:

Not hiring a skilled Realtor. All statistics show that homes with representation sell for more money and in a shorter time period. Realtors will research comparable homes in your area, help you price your home right – not overprice it, market your home via social media, mailings, MLS, and newspaper and be the person that deals with the buyers and their agents. After interviewing and looking at past sales histories, and you have picked and hired the best Realtor, they should give you all the tips and tricks they know to get your home sold.
Not fixing problem areas – almost every home has them. If you try to cover up these trouble spots like issues with the foundation, any water damage, or mold will most likely come back to bite you and a good home inspector will discover them. This could cost you a sale. If these problems surface after the house is sold, a messy legal battle could arise. It’s best to be upfront and truthful with your Realtor and the buyers. Before your home goes on the market, identify and repair problems.
Not setting the right price. The price you want and what the market will pay may be two very different things. Even in the markets where the inventory is tight, a good Realtor will be very careful to not overprice your home. If it is priced too high you take the risk of preventing potential buyers from even considering it, or it could cause the house to sit on the market for an extended period. The longer your home sits, the more it is perceived as overpriced – or perhaps as a home with something wrong with it. Homes that are priced too high usually end up selling for less than they would have if they had been priced correctly from the start. Pricing a home to sell is an art that the Realtor you hire must get right. They will look at the sales in your immediate area, as well as market movement, demand, location, and your home’s condition. You don’t want to be forced to lower your asking price after it’s been on the market the first 30 days which are the most critical where sellers see their most traffic.

The Bottom Line: Selling your home is a lengthy process, so there is no need to rush it. Homes can stay on the market for months, but you should follow the lead of the best Realtor in your town and use their expertise.

Share This Post