Showing posts from 2018

Defer Your Capital Gain Taxes with a 1031 Exchange

As we enter the new year, many people are thinking about tax season and how their real estate will be affected. There are several tax benefits that you may be eligible to take advantage of when considering your real estate, including a 1031 exchange. Through a 1031 exchange, real estate owners can defer capital gain taxes when they sell a business or investment property and use the proceeds of the sale to purchase another property ‘similar’ to the first. Business owners and taxpayers who want to accomplish a wide range of business and/or investment objectives can reap many benefits by taking advantage of a 1031 exchange, take a look.

Preservation of Equity  A properly structured 1031 exchange provides taxpayers the opportunity to defer 100% of both federal and/or state capital gain taxes, as well as depreciation recapture taxes. This essentially equals an interest-free, no-term loan on taxes due until the property is ultimately sold for cash.
Leverage  Many taxpayers exchange from a pr…

Understanding Your Title Commitment

During the home buying process, buyers typically have to go through the steps of getting a title insurance policy, whether it's the Owner's policy and the Loan policy, or just the Loan policy itself. One of those steps is to request for a title commitment to be completed and to review that report once the title insurance company sends it to you. But what exactly is a title commitment and what does it entail? This week, we'll go over in detail what it is and what information it provides to homebuyers and the title company.

What is a Title Commitment?
A title commitment is basically the title company’s promise to issue a title insurance policy for the property after closing. The title commitment contains the same terms, conditions, and exclusions that will be in the actual insurance policy. Almost every purchase and sale agreement contains language requiring the seller to provide the buyer with title insurance. At Arrowhead Title, we issue the title policy using forms distrib…

'Chain of Title' and Title Insurance: How It Protects Your Investment

Title insurance protects property owners' right to use and occupy their land. For some homes and/or properties, the title can be limited by rights and claims asserted by other individuals. If someone else brings a claim against your property, your ability to use and enjoy the land may be reduced and/or you may suffer great financial loss. That's where title insurance comes in.

Title insurance is your first line of defense against these potential hazards. Property is often the biggest investment most people make in their lifetimes, and it is crucial to protect this investment with title insurance.

Title Insurance Focuses on Risk Prevention
While other forms of insurance guard against risks by assisting you after an incident occurs, title insurance manages your risks by focusing on preventing risks before they occur. In order to do this, title insurance companies rely heavily on something that is known as "chain of title."

What is "Chain of Title"?
Chain of tit…

'Tis the Season for Property Taxes

'Tis the season for holiday gatherings, Christmas shopping, and - unfortunately - property taxes. While it's safe to assume that no one looks forward to paying their property taxes, keeping up with these payments is absolutely essential.Arrowhead Title, here to help you understand your property taxes and what happens if you fail to pay them.

What Is Personal Property Tax?
Personal property tax is a tax that is levied against tangible property that you owned at some point during the tax year. Examples of tangible property include houses, land, additional properties, boats, waverunners, cars, trucks, RVs, and motorcycles. Exactly where and how your tax dollars will be used may vary slightly by state and county, but generally recipients may include:
Local road districtsThe local libraryThe StateThe CountyThe local fire districtThe local schoolsLocal senior citizens
What Happens If I Don't Pay My Personal Property Tax? Tax payments must be postmarked by December 31st. If you…

Closing Costs: What Are You Responsible For?

Buying and selling real estate is a complicated transaction that requires careful attention and precision from every party involved. In addition to the funds being transferred as a result of the sale, there are multiple expenses that must be satisfied in order to complete the transaction. These expenses are commonly referred to as "closing costs." Arrowhead Title, Inc. is here to help you get a better understanding of closing costs and who is responsible for them.

What Is Included In The Closing Costs?
While the exact closing costs vary from transaction to transaction, here are a few examples of items that are commonly included in the closing costs:
Loan origination feesTitle insuranceSurvey feeAppraisal feeProperty taxUnderwriting feeTitle searchHomeowners association fees (if applicable)The dollar amount associated with the closing costs varies, but in general, buyers can expect to pay somewhere between 2.5% and 4% of the sale price. View our earlier blog post for more inform…

5 Myths of Title Insurance - Debunked!

Title insurance is arguably one of the least understood aspects of the home closing process. We have found that most people either respond to the questions about title insurance with blank stares, vague responses, or incorrect information. Today, the team at Arrowhead Title, Inc. is here to clear up some of the misunderstandings about title insurance at the Lake of the Ozarks by debunking some of the myths surrounding the title insurance industry.

1. MYTH:  Title insurance automatically comes with the house.
FACT:  Most lenders will require a title search and a title insurance policy to cover their loan, but these services are not included in the purchase of the home. Home buyers will be responsible for purchasing these extra services at closing.

2. MYTH:  There's only one type of title insurance.
FACT:  There are actually two types of title insurance: lender's title policies and owner's title policies. Lender's policies protect the lender in the event that the owner forec…

Join Us at the 29th Annual Kiwanis Christmas for Kids Charity Event!

The Christmas season is a magical time of the year, filled with beautiful lights, enticing packages, amazement, and wonder. Children and adults look forward to Christmas all year long, filled with anticipation over what this year's festivities will bring.

Sadly, there are millions of children all over the world who will not get to celebrate a wondrous Christmas. These less fortunate children (including thousands in the Lake Area alone) are lucky to simply have food to eat on any given day. For these children, the prospect of getting gifts for Christmas may not be much more than a far-off dream. 

That's why the Kiwanis Club of Lake Ozark and multiple businesses come together every year to host one of the biggest and best charity events of the year: Lake Area Christmas For Kids. As a proud supporter of this great event, Arrowhead Title, Inc. is here to fill you in on all the details for this year's festivities.

Lake Area Christmas For Kids

Lake Area Christmas For Kids is a huge …

4 Questions to Ask Before Selecting a Title Company

As a buyer, it will typically be up to you to select the title company you wish to handle your real estate transaction. Considering their close involvement in the process, it is important that you select a title company you know you can trust. OurLake of the Ozarks title companyis here to help you gather the information you need to make an informed decision.

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 you interview potential title companies, asking these questions can help you judge their experience and capability.

1. How Long Have You Been In Business? T…

Family Traditions for Halloween

Your family's traditions are likely to stir up some of your most favorite childhood memories. Traditions are an integral part of a family's culture. As adults with children of your own, it's time for you to continue the legacy by starting traditions in your own family. With Halloween being this week, Arrowhead Title has put together a list of some fun Halloween traditions that you can start with your family!

Visit A Pumpkin Patch
Pumpkin patches are great fun for families. Young children love running through the pumpkins in search of the perfect one to take home, and parents love to take pictures of their little ones against the scenic fall backdrop. Pumpkin patches often also offer several other fall attractions, such as hay rides and autumn-related arts and crafts.

Watch Scary Movies
Even if you aren't a big fan of scary movies in general, you can always make an exception on Halloween! Choose a few family-friendly scary movies and snuggle up on the couch with your family…

Trick-or-Treating at the Lake of the Ozarks

Halloween is just around the corner! We know all of the little ghouls, witches, superheros, and princesses are looking forward to this spooktacularly fun holiday! At Arrowhead Title, we feel that our community offers great opportunities for families to celebrate such events in many different ways, but the traditional "Trick-or-Treating" is a must! So, we're sharing with you a list of some local upcoming Trick-or-Treating opportunities around the Lake area that you and your family can safely enjoy some good old fashioned Halloween fun!

Hy-Vee Hollow Trick-or-Treat
Oct 25, 2018
Hy-Vee Parking Lot
929 State Hwy D
Osage Beach Missouri 65065
Hours of Operation: 4:00 pm – 7:00 pm
Pricing: $2.00/child

Come out to the annual Hy-Vee Hollow Trick-or-treat event! This event will be held on Thursday October 25th from 4-7 PM in the Hy-Vee Parking Lot. Don't forget your costumes! Admission for this event is $2.00 per child. All of the proceeds will be donated to two local organizat…

Your Title Company's Role in the Closing Process

When buying a home, there are several parties that will be involved in the process: your real estate agent, the lender, any vendors you may need throughout the process, the inspector and/or appraisor, and of course your title company. Selecting a title company to facilitate your closing is an important part of buying a house at the Lake of the Ozarks. Your title company will fill an important role in the transaction process, so it's crucial that you find a reliable, accurate company you can trust.

Most homebuyers have heard this advice several times. They know that selecting a good title company is important, but many homebuyers know very little about what a title company truly is or what we actually do. This week, Arrowhead Title, Inc. is here to help explain the important role we fill as a title company at the Lake of the Ozarks.

Ensuring Validity Of The Title

When you come to us to facilitate a closing, our first step is to confirm the validity of the title in question. We will co…

Title Services for the Lake of the Ozarks Community

Arrowhead Title, Inc. is proud to be a trusted title agency at the Lake of the Ozarks. We have been serving the Lake Area since 1984, and in that time we have helped hundreds of customers and developed many fantastic customer relationships. This week, we want to share with you some of the things we believe make us unique in the title industry at the Lake of the Ozarks.

Absolute Accuracy
When it comes to real estate and title matters, accuracy is absolutely essential. Even one small oversight or error could cost a homeowner hundreds (or possibly thousands) of dollars. In order to protect our clients' current and future interests, our title experts conduct every transaction with the utmost precision and accuracy.

Community Involvement
The Lake Area is famous for being a major tourist destination. Underneath a surface of thousands of tourists and second homeowners, however, there lies a close-knit community of individuals who make the Lake their home year-round. We are honored to be a pa…