Rochford Resources Blog

Title insurance protects the buyer and lender from financial loss in the event of title defects. After the completion of a title search, buyers frequently purchase title insurance to protect them in the event a issue arises that threatens their ownership of the property. Unlike, other insurance policies, you pay for your title insurance once and usually during the closing process.

Knowing what's expected of you at the time of closing on a property will protect you from financial surprises. Each state is allowed to determine its own taxes.  Kentucky, for example, has an income tax while Tennessee does not. In the State of Tennessee, a transfer tax is collected anytime anything of value is exchanged for the transfer of real estate. It's a hefty tax that can add thousands to the final cost.

A title search is a crucial part of the closing process. It benefits and protects both the buyer and the seller from a fraudulent or defective deal. Because homes cost thousands of dollars and owning property requires the payment of federal taxes, a lot of tedious work is involved in protecting the investment. While title insurance isn't legally required, lenders usually require a policy to be taken out to protect the new purchase. A title search and insurance are necessary to close on a new home, but many people aren't aware of what it is they are purchasing.

The closing process is one of the most important aspects of purchasing a new home. It's a life-changing event and if you're reading this because you're starting the process — congratulations! It's the final step of a long journey and comes with a variety of measures to make the entire transaction legal and usually ends with a set of new keys in your hand. The ceremony of events includes the signing of documents and payments. It can take quite some time. Each part is essential, and understanding what you are getting yourself into will make the entire process run a bit smoother. We've answered some of the most common questions about the closing process.

For many years, the U.S. housing market has been climbing at a steady pace. Recent reports are highlighting changes, and in 2018 the purchase and sale of homes has reached a peak. There are a few contributing factors to the plateau such as tariffs on building materials and mortgage rates. Specific pockets of the country are being hit harder than others. So, what does this mean for home buyers and sellers?

Buying a home is an investment. The entire process is riddled with nuances, all of which are designed to protect you, the buyer, during the investment. Along the way, you will work with various agents and lenders who will help you throughout the process. One essential component during the closing procedure is working with a trusted title company.

It’s expected that shopping for a home can take some time, but many homeowners don't plan for the closing process. The closing proceedings involve the exchanging of titles, documents, and money to secure the deal for both the buyer and the seller. It's an arduous process but a necessary one designed to protect the sale of the home. This final step requires some refinement if you don't want to get stuck in a back and forth between you and the seller. There are a few tips we have to help you make the closing process smoother.  

If you're a first-time buyer setting out in the real estate market, there are a few pitfalls you'll want to side-step. Buying a home, especially for first-time buyers can look daunting. The process is long, but the outcome can be advantageous. Making a substantial purchase with little experience is intimidating, but a little preparation will make a considerable difference. We've outlined some areas buyers should consider while they are looking for their first home.

The Title and Title Insurance for Purchasing Your Home

A notable overlap of responsibilities for both the title company and the closing attorney is to secure a clean title to your property. The title is crucial for all buyers as it gives you a legal right to the house that you've purchased.

With the housing market on the rise and the mortgage rates favorably low, many individuals and families are investing in new homes. Everyone's dream house will look a little different, but it's important not to get wrapped up in the aesthetics. There are certain aspects you should never overlook when buying a house. You want to confirm the money you are putting down won't drain the bank with additional and avoidable repairs. We've compiled a list of some of the areas that every buyer should inspect before purchasing a new home.