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American Land Title Association Homebuyer Presentation

Learn about the steps involved in the home buying process, including determining affordability, selecting a title agent, searching public records, resolving issues, and the importance of title insurance in protecting your investment.

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American Land Title Association Homebuyer Presentation

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  1. American Land Title Association Homebuyer Presentation

  2. Ensuring a Smooth Process So You Can Get the Keys to Your New Home

  3. Step 1: Determine What You Can Afford • Down payment • Closing costs • Offer Accepted • Timing crucial • Select a title/settlement agent

  4. The Process Begins • Search the public records • Resolve any issues • Closing day • Disburse funds • Record documents

  5. Protecting Your Purchase • Do you really own your home? • Issues that could limit your use • Owner’s policy of title insurance • One-time fee • Provides protection for as long as you own the property

  6. Finding the Problems • Research history of a property • Review prior deeds, mortgages, divorce decrees, court judgments, delinquent taxes, child support payments, etc. • Look for covenants, conditions, restrictions, utility and other types of easements • Title professional resolves any issues • Ensure a trouble-free closing

  7. Examples of Title Issues • Purchase new home from a builder • Roofer not paid • Find your dream home and want to build a swimming pool • Utility line running through backyard • Retiring and downsizing • Real owner knocks on your door

  8. How You Are Protected • Owner’s Policy of Title Insurance • Title insurance company works to resolve issues • Cost of defense and legal fees generally covered • Filing a claim • Title insurance policy is a contract

  9. Closing the Deal • Many professionals involved • Depends on where you live • “Gluing” the process together • Orchestrate transaction from start to finish

  10. Select a Professional and Ask Questions • Select your own professional • Ask for a referral • Closings vary from state to state • Ask questions • Find a professional in your area • www.homeclosing101.org

  11. TITLE INSURANCE. PROTECTING THE AMERICAN DREAM, ONE HOME AT A TIME.

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