I want to sell by owner, can you help? We sure can!Click on this link and view the PowerPoint presentation giving you hints and ideas to get you started. Have a buyer already? Just click through to the last slide and follow the step by step instructions. What is title insurance and whom does it protect? It insures title to real property from title defects and forgeries to protect the purchaser(s).
Does the seller get credit for an old policy? Yes, Homeowners Title Agency will give you credit for an old policy issued by us or another title insurance company.
What is the term of the title policy? As long as the insured owns the property, the policy insures against any defect prior to the date of the policy. At the time property is sold a new policy is issued and the prior policy is surrendered for credit.
Who prepares closing papers for the seller? Homeowners Title Agency will prepare all closing papers for the seller.
Who is responsible for setting up a closing? Once a clear to close has been issued by the buyer's mortgage company, the closing date and time is negotiated between all parties to the transaction, buyers, sellers, and/or realtors.
What are the purchaser(s) responsibilities and costs? The purchaser(s) is responsible for delivering to the closing a cashiers or certified check, made payable to themselves, for mortgage closing costs and balance of sale between buyer and seller.The balance of sale costs are itemized in the Closing Statement prepared by Homeowners Title Agency. The mortgage costs must be obtained from the purchaser(s) mortgage company.
What are the seller(s) responsibilities and costs? The costs to the seller(s) are deducted from the proceeds of the sale. Examples of the costs are a title insurance policy (amount based upon the purchase price of the home), transfer tax, title company closing fee, mortgage payoffs, etc.
How many days in advance do I set up my closing? Closing is coordinated between the seller, buyer, buyer’s mortgage company and any realtors involved in the transaction.Homeowners Title Agency can set up a closing at our clients’ convenience. Usually, it takes about 30 days from the time a Purchase Agreement is signed for the purchaser's mortgage company to have a "clear to close", whereby we can contact sellers and buyers to set a convenient day and time.