I Am a Home Seller2016-11-10T04:01:14-04:00

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I am a home seller.

When selling a home, it is important to make sure that you are properly represented.

On Time Settlements, in conjunction with our affiliated law firm, The Law Offices of David L. Thurston, are able to assist sellers with listing and contract services. Our flat fee pricing structure makes selling your home with the assistance of an Attorney, a reasonable and affordable option. Please contact our office to set up a consultation with one of our experienced attorneys.

How On Time Settlements can help you.

Contract Services

$995one time fee
  • Free consultation with an experienced real estate attorney
  • Review of all submitted offers
  • Negotiation of contract terms
  • Preparation of Contract of Sale

Listing Services

$700one time fee
  • Listed on MRIS (the multiple list (MLS) as well as Numerous Websites
  • Listed within 24 Hours for One Year!
  • Listing to include Digital Photos Uploaded by Seller
  • Real Estate Agent Support
  • Complimentary Comparable Market Analysis (CMA)
  • Preliminary Title Search for your property
  • 6-Foot Wood Post For-Sale Sign with Home Warranty Rider (prof. installed)
  • 2 Open Houses – Coordination of event and Announcements
  • Settlement Sheet / HUD-1 Review
  • Calculation of your closing costs

Get $300 back at closing if your buyer chooses to close with On Time Settlements

Your satisfaction is our number one priority. We hope that we can exceed your expectations and ultimately earn your referral.

You have questions. We have answers.

In many states, they are, so there won’t be much of a price difference between companies.

Still, smart consumers are looking at two factors: quality of insurance and of the title search, says Ronald Mann, law professor at Columbia University in New York. The goal is to find a title company or attorney that will do a thorough search and an underwriter that will be there in 10 or 15 years if there’s a problem.

Even in a regulated environment, you might be able to save money, says Orlando Lucero, vice president of Stewart Title of Albuquerque LLC. While insurance costs may be regulated, ancillary expenses like wire transfer or courier fees could add up, he says. So ask about the complete transaction price, not just insurance costs.

In unregulated areas, the difference in price “could be wide — 10 percent, 20 percent or more,” says Frank Pellegrini, president of Prairie Title Services Inc. in Oak Park, Ill. To find out if you’re in a regulated area, ask your lender or state insurance department.

The average policy is “pretty standard,” says Mann.

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Owner’s policies typically protect against a number of contingencies, like fraud, forgery, undisclosed heirs and spousal claims, says Pellegrini.

If you want additional coverage, that could boost the insurance cost. For example, a restriction endorsement could protect you if the construction of your home inadvertently violates the restrictions of your subdivision, Pellegrini says.

Or, your lender could require additional insurance on the property or mortgage. For instance, an ARM, or adjustable-rate mortgage, endorsement would guarantee that the lender is first in line for repayment if the home goes into foreclosure, says Pellegrini.

The party responsible for paying for the two policies — buyer’s and lender’s — varies from state to state and sometimes from county to county, says Yohe. In some locales, the buyer may pay for one; the seller, the other.

That doesn’t mean if the buyer pays, he can’t haggle for all or part of his costs. “It can always be negotiable,” Yohe says.

If you’re buying the owner’s and lender’s policies from the same company, “in many cases, there’s a substantial discount,” says Lucero.

If you pay for the title insurance, you have the right to select the company. If you’re not paying but want to choose the company, be prepared to share some of the costs, says Mann.

Be wary if the seller is pushing his title company, he says. A title search is meant to find errors before you buy. Use the same company that your seller did years earlier and odds are you’ll get the same results, Mann says. Often, searchers aren’t using actual records but summaries or extracts of those records. A fresh set of eyes (and extracts) could unearth problems, allowing you to fix them before you buy, he says.

If you’re getting advice from your seller, your real estate agent and your mortgage lender, look to the lender, Mann says.

“The lender’s interest dovetails with yours in getting these things done well,” Mann says.

The lender is guaranteeing a large amount of money based on the assurance that the property you’re using as collateral is really yours.

Banks and insurance companies aren’t supposed to go under, but they do. If you want to verify that the underwriter issuing the insurance policy is currently sound, check its financial solvency with ratings companies like Fitch Ratings, Demotech Inc. or A.M. Best Co.

You can also research the underwriter and title company or attorney online to see what past customers are saying about their services.

Every business has its bad apples. In very rare instances, a title insurance agent has issued policies but pocketed the premiums instead of forwarding them to the underwriter, so consumers weren’t covered, says Joseph W. Eaton, co-author of “The American Title Insurance Industry.”

One easy solution: Contact your underwriter directly and ask for a copy of your policy, he says.

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