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Do I Need Title Insurance, Even If I Am Paying Cash?

Do I Need Title Insurance, Even If I Am Paying Cash?

Title insurance is an insurance policy that is required by the lender when taking a mortgage. The insurance policy is meant to benefit the lender in several ways. The lender requires the insurance policy to gain knowledge and understanding about the property in question. Information gathered include the ownership of the property and whether any charge has been placed before by any other lender. The information is meant to protect the lender in the event that there may be any issues with the property. Therefore, it is imperative to take a title insurance policy when taking a mortgage using a loan rather than cash. However, when paying for the mortgage using cash, you can decide to leave out the policy or take it since it is optional and the beneficiary is yourself rather than a third party.

The Condo

Buying a condo is a dream come true for many people. It’s no wonder many potential homeowners are flocking to areas such as Bonita, Sanibel and Marco in Southwest Florida. Remarkable high rise condos on impressive locations, drawn by sugary white beaches, and fabulous sunsets, what’s not to like? It’s therefore pertinent that these buyers understand more about title insurance policies to secure their dreams and protect their investments. Unfortunately, many people don’t think they need insurance until something bad happens but by then it’s often too late to get insurance. It’s therefore best to eliminate these risks and prevent the possibility of losing your investment. A title insurance will cover any buyer in the event of previous legal issues associated with the property that they may not be aware of.

Southwest Florida is a great place to buy a home. But is it worth it to buy a SWFL fixer-upper home instead of a new build or a recently renovated home? There are pros and cons to each type of home you may want to buy and it isn’t always what you might think. Here are a few things to think about when considering what type of home to buy.

Cost

Most people think a SWFL fixer-upper home will save you a lot of money. And it is true that the cost of a fixer-upper is lower then that of a comparable home that is ready to move into, the reason is that you will be putting the difference into your renovations. However, if you have time  to wait for deals, can do some of the work yourself, or are flexible with your wants, then you can save some money by renovating a fixer-upper. However, if you are going to gut the house and start from scratch, you may end up paying far more then you would for an already renovated home… but this one will be exactly what you want.

Owners Title Insurance

There is a lot to think about when buying a home. From mortgage costs to property taxes to homeowners and mortgage insurance. Some people don’t want to think about Owners Title Insurance as well, but they should. Here are 4 reasons why you will be happy you took the time to find and buy an owners title insurance policy.

Title Insurance Protects Your Investment

A home is a large investment. For many people it will be the single largest investment they have. (I do know someone who bought a truck that cost more then their mobile home, and I know someone else with a Lamborghini that cost more then their condo, but for the average person, the home is the most valuable investment they have). Title insurance protects that investment from any legal issues that may come up from before you purchased the property. You protect your car, your home, your property, and even your life with insurance. Title Insurance protects your title to the land and home you live in. 

What buyers want in a Southwest Florida Home

The real estate industry has experienced a lot of improvements in the recent years as the adoption of new technology and design continues to revolutionize the industry. Today’s home buyers are looking for a modern home that have refined trending features that defines elegance and class.

What buyers want in a Southwest Florida Homehttp://heightstitle.com/wp-content/uploads/2018/06/southwest-florida-home.jpgIf you are a home seller within Southwest Florida, it’s important that you understand these trending features so that you can position your home to attract more prospecting buyers at a better price.

  • Spacious Laundry Room

Most home owners love a home with a large laundry room. This is one of the most sort after feature especially for those buyers with large families. A spacious laundry area gives them enough space to wash their cloths and to fold them as they carry on with their normal lifestyle.

  • Hardwood Flooring

Gone are the days when wall to wall carpets and tiles were fashionable. Hardwood flooring has taken over the flooring design and it’s the most trending feature in a modern Southwest Florida home. A house with hardwood flooring is going to attract prospective buyers easily compared to the one with the conventional wall-to-wall carpets.