Arrowhead Title, Inc.

Securing title insurance at the Lake of the Ozarks is a critical part of the home buying process. Unfortunately, title insurance is arguably one of the most poorly understood forms of insurance. In fact, although many homebuyers hear about it as they prepare to purchase their homes, they do not understand its true purpose - they simply accept it as a normal part of the closing costs.  Today, Arrowhead Title, Inc. is here to help by answering some of the frequently asked questions regarding title insurance. What is a Title? A title is a legal document that serves as evidence of an owner’s right to possess a property, whether that be a home, a commercial piece of property, or a piece of land. What is Title Insurance? Title insurance, as the name suggests, protects the title of your home.  Title insurance protects against various types of defects that may exist in the ownership of a home or property.  The difference between title insurance and other forms of insur...

Title insurance is arguably one of the most poorly understood forms of insurance. Many homebuyers hear about it as they prepare to purchase their homes, but they don't understand its true purpose - they simply accept it as a normal part of the closing costs. Nevertheless, securing  title insurance at the Lake of the Ozarks  is a critical part of the home buying process. Today,  Arrowhead Title, Inc.  is here to help by answering some of these common questions about title insurance. 1. What Is Title Insurance? Title insurance, as its name suggest, insures the title to a property. It is homeowners' first line of defense against hazards that may threaten their right to their property, such as unknown heirs, unauthorized signatures, mistakes in public records, invalid power of attorney, etc. Essentially, title insurance protects your (and your heirs') right to use and occupy the land. 2. How Much Does Title Insurance Cost? Actual costs vary from state to state an...

When  closing on a real estate transaction , there are a lot of steps that must be taken and processes that must be completed to ensure a smooth and timely closing. Often times, transactions go so smoothly, in fact, that the buyers and sellers think it's too easy and may wonder if there's more that should be taking place or that they should be doing. What they don't see is all the work that gets put into the transaction on the back end of the deal by a  Lake of the Ozarks escrow agent . So here are the basic steps of closing on a real estate transaction behind the scenes. Starting the Process A sales contract is signed by the buyer and seller and delivered to the closing agent, usually with a deposit check. The escrow is accepted by the escrow agent, often by written notation on the contract. The escrow agent starts the closing process by opening a title order. The file begins to be processed. Tax information, loan payoffs, survey, homeowner/maintenance fees, inspecti...

When we talk about the costs of buying real estate at the Lake of the Ozarks , we talk about several different things. The home inspection, home appraisal, and earnest money are just a few examples. The other major expenses are lumped together in a broad category that is simply called "closing costs." It's important to recognize that the closing costs vary depending on your position in the transaction (whether or you are a buyer or a seller). Today, Arrowhead Title, Inc is here to explain the buyer's closing costs for you in simple, easy-to-understand terms. What Is Included In The Buyer's Closing Costs? The truth is that the closing costs encompass a wide variety of different fees and services. While the exact expenses will vary from transaction to transaction, there are many elements that are consistently included in these costs. Here is a quick overview of some of the common items that are typically included in the closing costs: Loan Origination Fee...

When you are preparing to purchase real estate, selecting the Lake of the Ozarks title company you want to work with during your transaction is an important step. Our staff is here to help you gather the information you need to make an informed decision when it comes to choosing the right title company. As you interview potential title companies, asking these questions can help you judge their experience and capability. 1. What is Title Insurance? Title insurance insures against financial loss caused by defects in title to real estate. Title insurance companies defend against lawsuits attacking the title, or in the case of a covered loss, reimburse the insured up to the policy limit. While it's not required for homeowners to carry title insurance, it is highly recommended. Lenders will require homeowners to carry a Loan Policy if the home is financed. 2. What Kind of Defects Does Title Insurance Protect From? It protects you against loss due to title defects, liens, or ...

Insurance such as car, life, health, etc., protects against potential future events and is paid for with monthly or annual premiums. A title insurance policy insures against events that occurred in the past of the real estate property and the people who owned it, for a one-time premium paid at the close of the escrow. There are a number of misconceptions about title insurance and  Arrowhead Title would like to clear up some of these common misconceptions. Misconception #1: Title insurance is expensive.  There are several factors that go into calculating premiums for a title insurance policy, and no two policies are the same. Unlike other types of insurance, title insurance has a one-time premium that is paid at the time of closing. This rate can vary, and your title insurance agency can provide you with an estimate of your costs before purchasing a policy so that you can make an educated decision when choosing a title insurance company. Keep in mind that while purchas...

When considering real estate options, there are several tax benefits that you may be eligible to take advantage of, 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 property where they have a high-equity position or one that is “free and clear” into a ...

Title insurance offers financial protection against title problems that might not be found in the public records, are inadvertently missed in the title search process, or that may arise from fraud or forgery. The title policy required by a lender covers only the lender’s interest in a property. The homeowner’s policy, purchased at closing, provides coverage for the homeowner. If your home’s title is challenged, based on a situation covered in the policy, the title insurer will either perfect (establish a valid title) or pay for defending against the challenge and will either make perfect the title or cover the costs in the case of a valid claim. Let's take a look at the different types of title coverage at the Lake of the Ozarks you can purchase to protect your investment. Comprehensive Coverage There are two types of Owner’s title insurance policies certified by the American Land Title Association® (ALTA®) – the Owner’s policy and the Homeowner’s policy. The Owner’s policy ...

Title insurance is arguably on of the most poorly understood forms of insurance. Many homebuyers hear about it as they prepare to purchase their homes, but they don't understand its true purpose - they simply accept it as a normal part of the closing costs. Nevertheless, securing title insurance at the Lake of the Ozarks is a critical part of the home buying process. Today, Arrowhead Title, Inc. is here to help by answering some of these common questions about title insurance. What Is Title Insurance? Title insurance, as its name suggest, insures the title to a property. It is homeowners' first line of defense against hazards that may threaten their right to their property, such as unknown heirs, unauthorized signatures, mistakes in public records, invalid power of attorney, etc. Essentially, title insurance protects your (and your heirs') right to use and occupy the land. How Much Does Title Insurance Cost? Actual costs vary from state to state and closing to...