Somewhere on page two of your closing disclosure, you'll find a line item for title insurance that your mortgage lender requires, and directly beneath it, an optional charge for an owner's policy. Most buyers glance at both, assume they're duplicates, and decline the optional one. That single decision is the difference between … [Read more...] about Unpacking Title Insurance: What’s Covered, What Isn’t, and Why You Need an Owner’s Policy
Title Insurance Blog
Surviving the Summer Squeeze: 3 Ways Local Realtors Can Keep Deals Moving in a Low-Inventory Market
Summer is traditionally the crown jewel of the real estate calendar. Families want to relocate before the school year starts, the weather is perfect for open houses, and curb appeal is at an all-time high. For real estate in the NJ area, the classic summer rush has evolved into something much more stressful: the summer … [Read more...] about Surviving the Summer Squeeze: 3 Ways Local Realtors Can Keep Deals Moving in a Low-Inventory Market
The Top 4 Biggest Title Insurance Myths
Even if you own a home, you may not be familiar with title insurance. You may remember hearing something about it in the lead-up to your closing day, but you might not know all the details about the lender’s title insurance policy you paid for when you closed on your home. World Wide Land Transfer can offer you service as a … [Read more...] about The Top 4 Biggest Title Insurance Myths
Do You Need a Survey When Buying a Home?
Would you buy a pair of shoes without knowing what size they are? Of course, you wouldn’t, but plenty of real estate purchasers buy property having no idea how big their plot is and where its boundary lines are located. If you are buying real estate, you may consider a thorough survey an unnecessary expense, but it is … [Read more...] about Do You Need a Survey When Buying a Home?
What Are Affiliated Business Arrangements in the Real Estate Industry?
When buying real estate, your real estate agent will provide you with countless forms to fill out on or before closing day. The sheer amount of paperwork can be overwhelming, especially for first-time buyers. That’s why it can be easy to miss one particular form required by the Real Estate Settlement Procedures Act of 1974 … [Read more...] about What Are Affiliated Business Arrangements in the Real Estate Industry?
Do I Need Title Insurance for a Condominium Purchase?
While purchasing a condominium is similar to purchasing a single-family home in many ways, it’s also very different. When you buy a home, you own the building itself and the land it sits on; when you purchase a condo, you only own the space inside the unit. This could lead you to believe that you don’t need title insurance for a … [Read more...] about Do I Need Title Insurance for a Condominium Purchase?
National Association of Realtors Settles Collusion Lawsuits
In a landmark settlement, the National Association of Realtors (NAR) agreed to pay $418 million over the next four years to settle numerous lawsuits related to rules regarding the way real estate agents receive commissions. Critics of these rules claimed they created a conflict of interest which incentivized real estate agents … [Read more...] about National Association of Realtors Settles Collusion Lawsuits
What Happens If a Title Defect is Discovered When a Property Is Already Under Contract?
Putting in an offer on a home is one of the biggest financial moves you will ever make. While there are still some hurdles to overcome, formalizing your offer and having it be accepted by the seller will bring you one step closer to your dream of home ownership. But what if something comes up in the meantime that will prevent … [Read more...] about What Happens If a Title Defect is Discovered When a Property Is Already Under Contract?
NJ Title Insurance – Clouds on Title
A chain of title is not always perfect. Ownership rights of a property can be clouded by a number of potential liens as well as prior incompetence and maybe even fraud. Gaps or problems in a chain of title put a seller in a difficult predicament as these items need to be cleared by a NJ Title Company that is closing the … [Read more...] about NJ Title Insurance – Clouds on Title
New Jersey Title Insurance CSL Changes
The Department of Banking and Insurance approved a request from the New Jersey Land Title Insurance Rating Bureau for an increase in the charge for issuance of a Closing Service Letter ("CSL") from $25.00 to $75.00. The said increase is going into effect on June 1, 2012, and it applies to all applications for New Jersey Title … [Read more...] about New Jersey Title Insurance CSL Changes
