Arrowhead Title, Inc.

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. You Are Weighing The Costs Of Renting Versus Buying When you were first starting out, renting was likely the obvious solution. Buying a home seemed completely unfeasible financially - and even if you could have afforded it, you probably wouldn't have wanted to since you weren't ready to be tied to one place. At a certain point, however, the balance will start to tip. You'll find yourself imagining having a place of your own and beginning to research the true costs of buying a home in your area. While the desire to own a home in and of itself is not enough to indicate whether you are financially ready to ...

Buying your first home should be a thrilling experience. And while it is an exciting time, it's likely to be a pretty overwhelming process all around, and for good reason. Your home is quite possibly the largest investment you'll make in your lifetime, so you'll want to be confident that all aspects of the process are handled correctly. Buying a title insurance policy is an important way to protect your investment. As your trusted  Lake of the Ozarks title agency , we're here to help familiarize you with the process. How Title Insurance Works As its name suggests, title insurance insures your title. That is, it insures your right to use and occupy your land, as your title legally allows you to do. Whereas other types of insurance (home, auto, etc) protects against issues that may happen in the future, title insurance guards against issues that may have already occurred but are yet undiscovered. Examples of these types of issues include: Mistakes in public r...

Mostly all real estate transactions require the full (and careful) integration of many moving parts in order for a deal to close smoothly. The sellers, buyers, lenders, and real estate agents must work together to bring the transaction to a successful resolution. However, these important parties aren't the only ones who will be closely involved in the transaction process. While you as a buyer or seller may not realize it, a  Lake of the Ozarks title company  will also play a crucial role. Read on to see why your title company selection matters: What Does The Title Company Do? While first-time buyers generally do not understand the role a title company plays as well as they understand lenders' or realtors' responsibilities, that does not mean a title company's role is any less important. Here is a quick look at the types of responsibilities a title company will fulfill during the closing process: Ensuring validity of the title Issuing the title insurance polic...

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 home buyers 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 ...

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...

You've been window shopping homes all winter long online, and are waiting for the right time to make your move. Many homebuyers wait until spring is officially here to begin searching for a new home at the Lake of the Ozarks , which is precisely why you should tackle your home search before spring hits. Here are a couple reasons to consider buying your new home before the spring market arrives. 1. Mortgage Rates Are On The Rise Interest rates recently rose for the first time in several years, and they are expected to continue rising in the near future. Even a small increase can have a significant impact. For example, let's imagine that you take out a fixed rate mortgage loan for $200,000 for a 30-year term. If your interest rate is 3.9%, the total cost of the mortgage will end up being $339,601. If your interest is 4.1%, the total cost of the mortgage will end up being $347,903. An increase of just 0.2% ends up costing you an extra $8,302. Since interest rates are expec...

Before buying property at the Lake of the Ozarks , it's a good idea to have the property lines verified. This could help to avoid a major problem in the future if there are property line discrepancies and you try to claim back what's rightfully yours.  Arrowhead Title  runs into these problems regularly and wants to help you prepare for these types of surprises BEFORE you close the deal. Take a look at what a property encroachment can mean for your investment and how we can help. What Is A Property Encroachment? A property encroachment is exactly what its name implies - it occurs when your neighbor encroaches on your property. Typically, this happens when your neighbor's fence, storage shed, landscaping, pool, and/or section(s) of their house cross over the property line and officially take up part of your legal property. Encroachments are different than easements. Easements give someone legal right to use property that belongs to someone else. They are agreed-upo...