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Showing posts from February, 2017

Choosing Your Title Company: 4 Questions To Ask

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When you are preparing to purchase real estate, selecting the Lake of the Ozarks title company you wish to facilitate your transaction is an important step. Your title company will be intimately involved with your transaction process. The title company is responsible for:
Holding your earnest money check in escrowConducting a title search to make sure your title is free and clear prior to transferPreparing the title and deedIssuing a title policy to protect your right to use and occupy your landFacilitating the final transaction to ensure that all debts are paid and that the remaining funds are distributed to the appropriate parties
As the buyer, it will typically be up to you to select the title company you wish to handle your transaction. Considering their close involvement in the process, it is important that you select a title company you know you can trust. Our Lake of the Ozarks title company is here to help you gather the information you need to make an informed decision. As you …

5 Signs You May Be Ready To Buy Your First Home

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It doesn't matter how old you are - buying your first home is a big step. Homeownership is a substantial commitment, and it's important to make sure you are truly ready before taking the plunge. Whether you are buying a house with a partner or flying solo, there are certain signs that can indicate when you are ready to buy a house at the Lake of the Ozarks. Here is a quick look at a few of them.


1. You Plan On Staying Local For Several Years
Some people are surprised to learn that owning a house is actually cheaper than renting one. While this is generally true, it typically only applies if you plan to stay in your home for a minimum of 3-5 years. If you plan to only live in your home for 1-2 years, renting may be a better option for the time being. There are several upfront costs associate with buying a house (inspection, appraisal, closing costs, down payment, etc), so it takes a few years for these extra expenses to be balanced out by the proportionally lower monthly payments…

Buyers Aren't The Only Ones With Closing Costs

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As most people are aware, there is a lot that goes into buying a home. In addition to the cost of the home, buyers can expect to pay several thousands of dollars in closing costs. These closing costs cover a variety of expenses, including items such as the home inspection, appraisal, loan origination fees, title insurance, etc.


Who Pays For The Closing Costs?

When people talk about "closing costs," they are generally referring to the extraneous costs the buyers will be expected to cover. Buyers aren't the only ones with closing costs, however; sellers also have a set of expenses they will be required to cover in order to complete the transaction. This week, Arrowhead Title, Inc. is here to shed some light on the other side of the transaction.

If you are considering selling your home in the near future, here is a look at some of the costs you may be required to cover during the transaction process.

Your Outstanding Mortgage

If you have not paid off the mortgage loan on your ho…

POP QUIZ! Title Terms

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A few months ago, we used two blog posts to explore many of the vocabulary words found throughout our industry. Our goal was to help make it easier for people preparing to buy/sell real estate, order a title search, and navigate any other real estate transaction. This week, Arrowhead Title, Inc. is offering a fun, simple quiz to see if any of it stuck. No cheating!


QUESTIONS 

1. What Does "Adverse Possession" Mean?
A.  Someone legally claiming ownership of a property after living there for several years.
B.  Someone passing ownership of a property to an heir,
C.  Someone refusing to sell a piece of property.

2. What Is An "Easement"?
A.  Something that simplifies the transaction process.
B.  Something that complicates the transaction process.
C.  A legal right to use part of someone else's property for a specific purpose.

3. What Is A "Cloud On Title?"
A.  White-out on the title or deed.
B.  Something that may hinder the sale of a property.
C.  Something …