I was informed recently that a realtor was holding an Open House on a Sunday afternoon when a stranger entered the property and took the realtors' life! Although we all try to avoid situations that can be harmful to us, do we ever really stop to think about the danger of holding an Open House?
Think about it..No one would ever let a complete stranger walk through their own residence. Yet, we allow perfect strangers into our Open Houses. We do not know most of the people who attend an Open House, yet we freely open up a property to anyone who may be "our next buyer".
I have always made it a rule to never sit an Open House alone for many reasons. First and foremost, for my own personal safety. Secondly, I have been entrusted with a person's residence. I do not know what valuables are in the property, and if there are two pairs of eyes watching people, the chance of any issues arising is reduced. Third, no one knows what the personal circumstances are with a particular property owner and it is best to not be along in the event that someone enters the house to do harm to the residence.
We all need to take a moment and realize that our own personal safety is first and foremost. No amount of money on a sale can be worth our lives. Please take a friend, spouse or neighbor with you on your next Open House and be smart and safe.
Friday, April 22, 2011
Title Insurance - Real or a Myth?
The purchase of a home is one of the most expensive and important purchases you will ever make. You and your mortgage lender will want to make sure the property is indeed yours and that no one else has any lien, claim or encumbrance on your property.
Title insurers work to identify and eliminate risk before issuing a title insurance policy. Title insurance will indemnify a property against loss under the terms of your policy. Title companies work in advance of issuing your policy to identify and eliminate potential risks and therefore prevent losses caused by title defects that may have been created in the past.
Buyers and lenders in real estate transactions need title insurance. Both want to know that the property they are involved with is insured against certain title defects. These defects could be liens, lot line adjustments or a person could claim ownership that they have a lien across your land etc.
In essence, by acquiring your policy, you derive the important knowledge that recorded matters have been searched and examined so that title insurance covering your property can be issued. Because a title policy is a risk eliminator, the probability of exercising your right to make a claim is very low.
Title insurers work to identify and eliminate risk before issuing a title insurance policy. Title insurance will indemnify a property against loss under the terms of your policy. Title companies work in advance of issuing your policy to identify and eliminate potential risks and therefore prevent losses caused by title defects that may have been created in the past.
Buyers and lenders in real estate transactions need title insurance. Both want to know that the property they are involved with is insured against certain title defects. These defects could be liens, lot line adjustments or a person could claim ownership that they have a lien across your land etc.
In essence, by acquiring your policy, you derive the important knowledge that recorded matters have been searched and examined so that title insurance covering your property can be issued. Because a title policy is a risk eliminator, the probability of exercising your right to make a claim is very low.
WHAT IS A HOME WARRANTY?
A home warranty is a one year service contract that covers repairs and or replacement of a home's major mechanical systems and appliances.
Benefits of a home warranty include peace of mind, and cash flow protection. The cost of a repair or replacement of a covered system or appliance is the home warranty company's responsibility not the homeowner. There is a low trade call fee of approximately $55.00 and this only requires a phone call. Coverage is renewable year after year. In most instances, the home warranty policy pays for itself after the one or two calls.
Did you know that anyone can purchse a home warranty. Whether it is for a main residence or rental property. You do not have have to buying a home. It can be purchased at any time.
Think about the cost of a roof repair? Speaking from experience, a good roof warranty which can be obtained separate from the regular policy will more than pay for itself if you have a leak....In certain cases, a new roof can be obtained with very little cost to the homeowner who is protected under a roof policy.
We all know the costs to maintain a home, it is just some food for thought.
Benefits of a home warranty include peace of mind, and cash flow protection. The cost of a repair or replacement of a covered system or appliance is the home warranty company's responsibility not the homeowner. There is a low trade call fee of approximately $55.00 and this only requires a phone call. Coverage is renewable year after year. In most instances, the home warranty policy pays for itself after the one or two calls.
Did you know that anyone can purchse a home warranty. Whether it is for a main residence or rental property. You do not have have to buying a home. It can be purchased at any time.
Think about the cost of a roof repair? Speaking from experience, a good roof warranty which can be obtained separate from the regular policy will more than pay for itself if you have a leak....In certain cases, a new roof can be obtained with very little cost to the homeowner who is protected under a roof policy.
We all know the costs to maintain a home, it is just some food for thought.
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