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.

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:
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 , , , , , , , , , , , , , , , , , , , , , ,

3 Tips to Increase Curb Appeal

When it comes to selling your home, making a great first impression is very important. If a potential home buyer likes what they see on the outside, they’ll likely want to see what the inside is like. In this blog, we’ll go over some simple, low-cost curb appeal improvements that are easy to do and can make the outside of your home look charming and pleasing to the eye.

Tip #1: Make it welcoming.
A warm, welcoming entrance to the home makes potential homebuyers comfortable and it allows them to more easily imagine themselves living in the home if they bought it. If you have a porch area, add some cozy seating to it, like comfortable rocking chairs. A little bit of warmth goes a long way.

 

 

 

 

 

Tip #2: Add color.
If you have a walkway, add color to it with bright flowers. Either plant them to line the path, or get large pots and plant a variety of flowers in them. If you have a covered porch area or a place to hang some hanging flower baskets, this is also a great way to add color to the space. These are simple and relatively low cost options to complement the house and make it more attractive.

 

 

Tip #3:  Maximize the space.
If you have a condo or just a small area in the front of your home and are limited on space, you can still maximize the space well. Flowers and a touch of antique décor for example, create a unique and inviting space that people will want to discover.

 

 

 

 

 

 

Most importantly, be sure that your front yard is maintained well and that unnecessary clutter is removed from walkways, porches, patios, and other areas that are within the vision of people that drive by your home. Mow your lawn and keep it edged. Creating curb appeal can be fun and can add value to your home.

Selling your home only takes one buyer and it’s often that first impression that makes a lasting difference!

Posted on August 9, 2014 at 9:48 pm
Nancy Johns | Category: Uncategorized | Tagged , , , , , , , , , , ,