Title Insurance.
Don't buy a home without it. You could lose your home and still
have to continue making the mortgage payments. That nightmare can
be avoided for just a few hundred dollars.
Title insurance
sometimes seems like a waste of money to many people. The buyer is
required by the lender to pay for a lender's title policy and then at closing is
asked whether they want to pay more to purchase an owner's title insurance
policy. It's treated like it's an insignificant extra that is something
like an extended service guarantee.
Please,
don't ever,ever,ever buy a house without purchasing an owner's title insurance
policy. Most people think that the only thing at risk is
their equity in their home. If they put a small amount down and
don't plan on staying there long, they're willing to take a risk thinking they
don't have much to lose. Well, a little known fact is that when the title
insurance company has to pay off a lender, it acquires the note on the property
and can then enforce payment of any remaining balance from the borrower.
This is called subrogation. It's similar to a collection agency.
They pay off the lender and then try to collect from the borrower. You'll end up
making payments on a house you no longer own. Even worse, they can claim a
default of the mortgage and execute the acceleration clause which requires
immediate payment of the entire balance.
Very few people in
real estate actually realize the full implications of this liability. I've
heard too many agents and lawyers incorrectly minimize the liability. Title
problems just don't happen that often. But it's very important to know the risks
and consequences.
John Adams writing
in the Atlanta Journal Constitution had a few excellent articles on this topic
in August of 2002. The typical cost for insurance is around $2/thousand
dollars of sales price. It's a one time cost that protects you as long as
you own the property.
Please, check out
these sites that explain title insurance and what is and isn't covered.
There's an extended coverage policy that you might want to discuss with your
lawyer before making a final decision.
Our market area is in the
north metro Atlanta area.
We service Cobb County,
north Fulton County, Dekalb
County, Forsyth County and
Gwinnett County. We
are very familiar with Sandy
Springs, Dunwoody, Marietta,
Roswell, Alpharetta,
Buckhead, and Midtown.
We have sold homes inside
the perimeter and outside
the perimeter. We
can't know everything so for
clients who want to look for
property in Peachtree City,
Newnan, Stone Mountain,
Douglasville, Macon and
areas further out we will
gladly recommend a good
agent who specializes in
those areas.
We help buyers negotiate
with builders for
residential new construction
houses. New houses in
Atlanta are hot right now.
We can represent you in the
purchase of your new house
built by any of the
following builders: Torrey
Homes, MDC Homes, Centex
Homes, Pulte Homes, Morrison
Homes, Ryland Homes, John
Wieland Homes, Winmark
Homes, Meridian Homes, John
Willis Homes, Benchmark
Homes and many more home
builders.
We can help clients find
short term apartments for
rent but normally we don't
work with clients who are
just looking for rentals.
We do help clients find
Atlanta condos. We can
also help you purchase HUD
homes in Atlanta. We
are an authorized agent with
them and have the HUD key to
get into HUD homes. We
have access to foreclosure
homes that banks want to
sell.
We love showing executive
homes and luxury homes. We
always like to know how
people find our site.
Send us an email and tell us
which search term you used.
Some terms that we might be
found by are realty Atlanta,
Ga homes, Atlanta realty,
condos Atlanta, Atlanta
realestate, Atlanta
property, houses Atlanta,
Atlanta realtors, Ga houses,
or realtors Atlanta.
Maybe you found us by typing
in Atlanta MLS listings, or
Atlanta MLS search, or MLS
Atlanta GA. Hopefully we
don't come up under nursing
homes or funeral homes.
It is always amazing to me
how the Internet can allow
total strangers to find each
other and build new business
relationships. It
truly is becoming a small,
interconnected world.
