| As-Is Clauses in Real Estate Sale Contracts |
| In today's white-hot real estate market, more and more sellers are listing there properties for sale "as is." What does this mean to a prospective buyer? When a seller indicates that a property is being sold "as-is," the seller is essentially offering the property on a take-it or leave-it basis. More... |
| Title Insurance |
| By the terms of a real estate contract, a seller agrees to convey clear title to a buyer. As a condition of being approved for a mortgage to buy the property, the buyer's lender usually requires the buyer to purchase a lender's insurance policy, which is paid for when the real estate transaction closes. Every closing is conditioned on proof of the seller's ability to convey clear title, the release of prior encumbrances, and the ability of the buyer's lender to have a superior interest in the property to be conveyed.More... |
| Mortgages -- Mortgages and Deeds of Trust Distinguished |
| In connection with real estate financing, sometimes the terms "mortgage" and "deed of trust" are used interchangeably. The two are not the same. In fact, important differences exist. More... |
| Title Examinations |
| Al just found out that the offer he submitted to purchase his dream house was accepted by the seller. Al has begun working out the details of his mortgage loan with his lender. The lender advised him that a title examination is required as a part of the closing process. More... |
| Insuring Your Property Against Damage |
| A property owner can obtain insurance to protect against damage or loss to real estate as well as to the personal property that may be located on that real estate. The typical types of insurance that are available to protect an insured against direct loss to the property include homeowner's insurance, fire and catastrophe insurance, and consequential loss insurance.More... |
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