What value does a real estate lawyer add on top of title insurance?
If title insurance already protects against:
– survey errors
– legal description errors
and negates the need for:
– zoning compliance certificate
– tax certificate
– hydro/water/gas certificates
– law society levy
what value does a real estate lawyer add on top?
Is it just for wading through the legalese in the Offer and the Agreement?
Depends on the transaction, if it’s a refinance, I would tend to agree with you even though I don’t understand what you mean by stating title insurance negates the need for tax and water certificate. I’d also be cautious of the legal description errors. I had a situation in NY, purchase, where the deed to the property did not contain a legal description at all. The previous title company would not give us a letter of indemity for our title and then come to find out our title underwriter would not accept it, the original deed had to be found and re-recorded, no exception, so I guess it depends on what you mean by “errors” On a purchase transaction, they usually add more value due to the purchase contracts and drafting of deeds, etc. To be bluntly honest, most attorneys usually dont even touch the file unless there is a major problem, their paralegals handle the day to day operations
Who is responsible for selling a bad title insurance policy?
I had property line dispute with my neighbor and my title insurance policy(First American Title Insurance Company) does not want to pay my $7k attorney fees for preparing the claim . They did not cover my out of pocket legal fees. I was sold a crappy policy 10 years ago when I purchased my residence. Who is in charge of choosing the title insurance company? Escrow company or the agent?
Normally the real estate agent or the escrow officer select a title company they are accustom to working with. This is prevalent throughout the mortgage and real estate industry.
What the real estate agent or escrow loan or loan officer fail to tell their clients is that they may select the services of their choice.
Even if your title was not in excess of 10 year the title company only guarantee that liens against the property after your purchase would be paid and you would be getting a clean title to the property. You did not get a crappy title insurance policy.
I have used First American Title Insurance and have found them to be a competent title company over the years.
In most states and counties a property has been assigned a lot and parcel number with the dimension recorded at the county court where the property is located. If there is a dispute about the property as to where it ends and how much is yours, then you would have to hire a survey company to complete a survey to determine property lines.
I hope this has been of some benefit to you, good luck.
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What is the best way to market/advertise a bright pink headband and why?
This is for a school Economics project.
I need to know which method of advertising would be better to advertise a BRIGHT PINK HEADBAND.
Print Media (Newspapers,Magazines etc)
-Word of mouth
I also need the cost if possible (In Rands ie South African currency)
I can’t give you cost, but I can give you ideas..
Eliminate Billboards, Radio, Cellphone, and Pamphlets immediately. (They are not going to have purchase impact.)
Now, we need to decide a “pitch”, since you’re selling something “generic”, I’d tie it to a “cause”.
Wear a BRIGHT PINK HEADBAND TO SHOW YOUR SUPPORT FOR….. NOVEMBER IS PINK HEADBAND MONTH FOR… Etc…
That would probably lead me down the path of Sponsorship, getting a organization involved in my cause to promote the wearing of the Pink Headbands. (They already have an email list, a website, and the attention of news outlets)
Which could then easily move into free coverage by Print media, Television, Radio, Word of Mouth, etc…
Cost of Advertising?? With a great sponsor, and a CAUSE??
What is a good way to advertise your business in the south east?
I’m starting a property management company in Chattanooga, TN and I dont think news papers alone will cut it.
Local or geographically targeted search engine marketing and advertising is a good way to go. This puts you right in front of people looking for your services. A little keyword research shows there are 8 searches per day for “chattanooga property management”. Not sure exactly what individual services you are providing (outside or inside) or other areas you serve but you would have to find out what kind of search volume there is for them in your area.
You can reach the people searching for your services locally through localized web marketing programs such as local search engine optimization and local pay per click marketing. The most important thing is that your website is well optimized for the areas you serve. Http://www.localrise.com is a good starting point to learn more about these types of local internet marketing programs.
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Has anyone sold their home through a flat-rate MLS service, and what were the results?
We are preparing to sell a $300K house and just can’t understand how a listing agent can still justify a 3% / $9K commission. Property values have increased substantially in our area, as in most, but the work the agents have to do to market properties has decreased significantly with the advent of internet marketing.
I understand the value of the buyer’s agent, bringing pre-qualified buyers to see my home, but I just can’t see paying the same commission to another agent just for listing on the MLS and coming by to stock flyers, especially when I can buy an MLS # myself through one of these services. And as for the paperwork, a real estate attorney can do it for far less.
On the downside, I can imagine that the buyer’s agents may be less enthusiastic to show such a property out of support for their industry. What experiences have you had? Are listing agents still necessary or are most people just willing to pay the 3% b/c they are so happy to hear how much their house is now worth?
IMHO, there is a TON more work now that it is a buyers market. A couple years ago, people engaged in bidding wars to buy property. Now, there is a ton of inventory, interest rates are low and buyers are shopping around. It is a buyers market.
In the US, most areas are experiencing a price decline.
The internet does not make it easier. Everyday I get emails about a property, most are just tire kickers or want to make a ridiculously low offer on a property. At this point, I’d say 1 out of 50 prospects are actually interested in purchasing a property for fair market value.
As a listing agent, I just don’t stock flyers and wait for a buyer to come. I put up signs, advertise, send mailings, hold open houses, get your home on many websites, create a virtual tour, and bring qualified buyers through the home. Limited service agencies cannot say that. Most Realtors won’t show a property through a limited service agency, it doesn’t have anything to do with supporting the industry, but most of those sellers are so penny wise they are pound foolish. Very difficult and once a Realtor is involved, they want the Realtor to represent both sides without compensation. Ugly for the Realtor.
And you pay a limited service agency whether you sell the home or not. If I don’t sell your home, you don’t pay me a dime.
What is Internet Marketing?
I’m confused with these stuff, internet marketing, search engine optimization, social media optimization, etc.. Are they all related?
Internet marketing is the marketing of products and services using the Internet as its medium. Lower costs of dissemination of information and a global audience are its main advantages. Internet marketing also encompasses digital customer data management and electronic customer relationship management (ECRM), which are widely used in businesses today.
I’d suggest you download the ebook about internet marketing here:http://tinyurl.com/237cvqj .
It’s a simple and straight-forward ebook with step-by-step instructions that can produce a lot of traffic, leads and income for you if you’re willing to put in the small amount of time and effort to do it.
The truth of the matter is that the ebook is proven to be effective when it comes to internet marketing. So if your trying to build an online income without a powerful Marketing System you will always be climbing a slippery slope.
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How can I get a job in the Title insurance business?
I have experience conducting title searches all the way back to the 1800s but not for a title insurance company. I rarely see listings for this type of job but I know that plenty of people do this. Where can I start looking?
I work for a title insurance company. I went through a temporary agency who was handling their staffing at the time. You could always submit resumes to First American Title Insurance Company, Stewart Title, LandAmerica Financial Group. But with the mortgage industry suffering, we have been slow. Good luck!
Are all title insurance policies required to check for liens?
We are buying a foreclosed property that offers a free title insurance policy if we use the seller’s choice for settlement. Because it is a foreclosure, the property does not come guaranteed free of liens. If I use the seller’s company, am I in danger of them not doing a full title investigation?
A Title Insurance Policy guarantee’s a title free from liens They will do a title search to avoid a lawsuit.
This depends on whether its an OWNERS POLICY or a MORTGAGE Insurance Policy. IAre you talking about a MIP (Mortgage Insurance Policy}. You need to purchase the Owners Title Policy.
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If I want to buy investment property in PA and I live in NY, what is the best way to set things up?
I live in NY. I want to buy investment properties out of state. I already own an S-Corp for my Internet marketing business. Should I form a new corporation or some other business as a tax shelter in case I want to invest elsewhere as well? Does it make sense to form a new company?
I would form a new company, probably a LLC, but for liability reasons, not for tax reasons. You set up the company and fund it yourself. Then the company buys the properties (either in cash with funds you gave it, or by getting a mortgage with you personally will nonetheless have to sign for). Later if someone sues you for whatever they are suing the LLC and your personal assets cannot be attached to the lawsuit (but you are still on the hook for the mortgage). Be sure to keep all personal and LLC funds seperated – otherwise a smat lawyer will say you and the LLC were one and the same entity and therefore your personal assets should be attachable to the lawsuit.
No real tax advantages to having an LLC (but plenty of tax advantages in general to investment property).
Do I put Internet as Business Expenses?
I work as a internet marketing person online for 2 different companies. When I fill my taxes I put $359.88 for comcast internet for business expenses and the refund amount went up. Do I put $359.88 again for the other companies business expenses also? Because that will make it go up also. Both jobs require the internet of course.
“Do I put $359.88 again for the other companies business expenses also? ”
no, this would be “double dipping”. You can use an expense only once. As for your Schedule C, since the work is the same, internet marketing, it does not matter how many companies you worked for, you only file 1. If you did different work – internet marketing and landscaping – you would file 2 separate Schedule Cs.
Is the $360 solely Internet access? Does it include phone? Is the phone your Personal Line or the Business Line? Is the internet access used solely for business?
If you are using your home cable service to run your business, you may have this expense dis-allowed if you are audited.
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