What is a title company’s role in my purchase/sale?

If you’re in the process of buying or selling a home, chances are, you’ve run into some questions along the way. This is one of the many reasons why your Realtor® plays a valuable role each step of the way. One of your questions may have been what role the title company will play in your purchase or sale.  In Clark County, escrow and title services are completed through the same company, but each department has different roles and tasks. Here is some helpful information that can help clarify what the title company does as well as what the differences are between escrow and title.

At the time your property is listed, thorough agents will request a preliminary title report. This will show loans, taxes (property and excise), certain kinds of personal debt (tax liens/back child support), which must be paid when the sale is completed. Of course, the total of these should be less than the purchase price of the home.

In addition, easements, road maintenance agreements, HOA information, and CC&R’s will also be on the report. These are examples of items that will stick with the property. Reading the title report will allow your Realtor® to know about any trouble spots that come with the property before closing happens. Once there is an accepted offer, the buyer and the lender are added to supplemental reports.

Escrow includes collecting all necessary documentation to allow the property to transfer over to the new owner. Escrow also will pay off underlying encumbrances (ie. Liens on the property), will place new encumbrances, and make the property transfer with the County. The escrow team will work up the costs for both seller and buyer, including pro-rated property taxes, pro-rated HOA dues, costs from the buyer’s lender, and closing utility bills that could become liens on the property (water and sewer).

While each real estate transaction is different, there are still some basic action items that need to happen with each one. The title and escrow company play a crucial role in the closing process. I will help walk you through the various steps to make sure you understand what you need to do.

We’re officially into 2018 now and it’s a great time to buy or sell your home. Contact me today to explore how to get the ball rolling.

Posted on January 2, 2018 at 11:22 pm
Nancy Johns | Category: Home Buying Tips, Selling Your Home | Tagged , , , , , , , , , , , , , , , , , , , , , ,

Continued: 4 Housing Trends for 2015

This is the last post in my most recent blog series that covers some of the top home trends predicted for 2015. This week, I’ll be covering the last 4 trends that home buyers can expect to see in homes on the market.

  1. Grandiose garages.
    Grand garage spaces are very desirable right now. The new trends include bringing the driveway material into the garage, as well as adding sleek designs and modern conveniences into it, including temperature controls, glass doors, or large sinks for outdoor use or washing pets.
  2. Luxurious master bedrooms.
    The bedrooms are some of the most important rooms in your home – they are where you can really rest and unwind at the end of a long day. As the demands of work and society increase and people become more and more stressed, people begin recognizing the importance of getting great sleep and how it will affect their mood and their overall productivity throughout the day. So, homebuyers today are not only looking for bedrooms that they can turn into their oasis, but they are looking for ways to transform them into a luxurious retreat. They’re doing this by buying top of the line mattresses, luxurious bedding, comfortable pillows, and having calming scents throughout the room.
  3. White kitchens.
    There are thousands of options for kitchen colors, backsplashes, cabinets, and flooring, but one of the hottest trends this year is the focus on all-white kitchens. It’s common to see white cabinetry with dark gray or black countertops and white walls. The white trend gives the space a clean, fresh look to it that many homeowners desire.
  4. Enhanced outdoor living.
    Outdoor enthusiasts will rejoice at some of the 2015 trends in outdoor living. This year, enhancing outdoor space is very popular.  Some of the things you might see include adding an outdoor covered kitchen equipped with a sink, carving station, and grill, adding a hot tub with an adjacent outdoor shower, or providing an outside wash station for your dog. Being outside during the spring and summer months is very enjoyable in the Pacific Northwest, so expect to see people investing in bigger and better outdoor living spaces this year.

Home design trends are fun and interesting to watch, no doubt! Be sure, however, that you are mindful of what budget you need to stick to, as well as what style preferences you prefer.   Consider what ideas and concepts you’ll like or will work well for your home for years to come – not just what the passing interests are.

Posted on April 28, 2015 at 4:06 pm
Nancy Johns | Category: Home Buying Tips, Home Remodeling Tips | Tagged , , , , , , , , , , , , , , , , ,

Which Home Repairs Should You Make Before Selling Your Home?

When it comes to selling your home, there is probably a checklist of to-do items that might seem endless. Cleaning carpets, purging cluttered closets, repairing odds and ends around the home – all of these types of tasks are par for the course when it comes to getting your home ready to sell.  Before you put your home on the market, it’s important to do a thorough review of your home – inside and out – to see what potential problem areas there are.  Put yourself in the shoes of a buyer. What would they notice and what would they want to be fixed? Here are three most important home repairs to make before you list your home. 

  1. Leaking or damaged roof.
    If there are suspected leaks or apparent damage on your roof, it will need to be fixed right away. Damaged or leaky roofs can be potentially hazardous, as it can lead to serious water damage. If the roof isn’t leaking, check for missing shingles and have them replaced immediately. If there are shingles that are damaged or loose, fix those as well so they don’t fly off in windy or rainy weather.
  2. Electrical issues.
    Is your electrical panel overloaded?  This is something that an inspector will notice and tell the buyer about right away.  In addition, be sure that your wall switches, electrical outlets, or other fixtures in the home are fixed or replaced and be sure that any exposed wires are fixed and covered up so there is no risk of fire or electric shock. If you don’t have an electrical background, don’t attempt to fix all of these things yourself – a trained and licensed electrician should be the one that makes any upgrades or significant repairs to your system.
  3. Plumbing problems.
    If your home has problems with plumbing, this is something that should be fixed right away. Be sure that all of your drains are working well and that there aren’t any leaks coming out of fixtures or major appliances like dishwashers, toilets, or showers. This could lead to water damage in walls or flooring, which could cause rot.

It’s important to take care of the big things first. Then, take care of cosmetic fixes and get your home staged well so it’s appealing to potential buyers. Then, you’ll be on the track toward a quick and efficient selling process!

Posted on November 16, 2014 at 9:41 pm
Nancy Johns | Category: Home Remodeling Tips, Selling Your Home | Tagged , , , , , , , , , , ,