Arrowhead Title, Inc.

If you're approaching the closing date for your new home, it's quite possible that you're feeling a bit squeezed by all of the costs you've been expected to cover so far - especially when you consider that you don't even own the house yet! Appraisals, inspections, earnest money... these things aren't cheap, and somehow you're expected to pay for all of them. As the closing date draws nearer, you're probably looking for opportunities to cut costs in any way you can. While we certainly empathize with your predicament, your friends at Arrowhead Title, Inc. are here to make sure you know that title insurance is not the cost to cut. Not Having Title Insurance Can Be Devastating When you sign on the dotted line and become the proud owner of your new home, you also become the (maybe not quite as proud) owner of any problems associated with the house. The seller is off the hook. What happens, then, if you find out afterwards that the seller was a mino...

The title industry is one of the most complex industries pertaining to real estate. Title experts use an extensive vocabulary riddled with terms unique to our industry, and it can be overwhelming and confusing to persons seeking title assistance for the first (or even the second or third) time. At  Arrowhead Title, Inc. , we recognize the challenge this type of language barrier presents. In an effort to overcome these communication difficulties, we are dedicating this week's blog to defining some of the title terms used in most transactions. Common Title Terms - Explained Abstract of Title An abstract of title is a summary of all the public records pertaining to a specific piece of property. In order to be considered legally valid, it must be prepared by a licensed abstractor. Adverse Possession Adverse possession is the process wherein someone may legally claim ownership of a piece of property if they have occupied it for a certain number of years. Certificate of Title ...

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, inspectio...

Real estate is a complex industry with a unique set of vocabulary and industry terms all its own. If you have not been involved in the real estate scene recently (or even if you have been), you may have trouble interpreting the various terms you come across during the process of buying or selling a home.  Arrowhead Title, Inc. is here to help! Keep reading to find the definitions to some common real estate terms you are likely to encounter as you sell or buy a home at the Lake of the Ozarks . Common Real Estate Terms & Their Definitions Adjustable Rate Mortgage (ARM) This type of mortgage has a set interest rate for a fixed number of years, after which the interest rate will adjust to reflect the current market rates. Amortization Schedule This is a table or document that shows the planned monthly payments for the duration of your mortgage loan. It identifies how much will go towards principal and how much will go towards interest each month so you can understand...

Title insurance is a crucial part of buying real estate, whether a home, business, or commercial or residential plot of land. Without title insurance, your right to use and occupy your new property may be hindered by rights and claims asserted by others - potentially even years after the closing date. Despite its incredible importance, title insurance is largely misunderstood (if it's understood at all) in the general community. Arrowhead Title, Inc. is here to educate you on our unique industry by filling you in on these fun facts about title insurance. Fun Facts About Title Insurance 1.   Benjamin Franklin was the first person to come up with the concept of title insurance. 2.   Title insurance's primary focus is proactive, not reactive - it aims to prevent issues from ever arising in the first place. 3.   Title insurance is available in several other countries (not just the States). For example, it is used in Northern Ireland, Canada, Mexico, New Zealand, ...