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Shopable vs Negotiable Home Buying Costs.

A service is shopable in the home sale process if there are different providers which quote different prices. An example of shopable service costs are a home warranty and a home inspection. But escrow and title services (the biggest costs) are not really shopable in Arizona as prices for these service are similar from company […]

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Reading a Commitment or Prelim.

You get one after escrow opens when you buy or sell, but what is it? It sets forth the title insurance company’s conditions and requirements to issuance of a policy of title insurance. It’s important because it can reveal adverse matters that can stop your closing. Basically the Commitment /Preliminary Title Report has 3 sections: […]

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Don’t Overpay for Title Insurance: Part 3, Identity Rates.

When buying or selling a home, some escrow/title companies offer discounts to certain people. Those who qualify are usually first-time home buyers, senior citizens, non-profit/charitable organizations, and first responders (police officer, firefighter, emergency medical personnel), educators and military personel. Since the title insurance policy is the largest escrow company cost, it is worth asking whether […]

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Don’t Overpay for Title Insurance, Part 2.

Refinancing and Resale Rates. When refinancing your existing mortgage or selling your home, you may be entitled to a title insurance and escrow fee discount. The applicable discount when refinancing is called a “reissue rate.” A reissue is an extension of a current policy at a reduced premium. Obviously you must use the same title […]

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Don’t Overpay for Title Insurance. Part 1, Investor/Builder Rate.

Reduced title insurance premiums and escrow fees are available to certain buyers and sellers, but they are not volunteered. Since title insurance is the biggest escrow/title cost, it’s worth it to find out if a discount applies. One reduced rate that may be available is for builders, contractors, developers, real estate agents, attorneys, or investors […]

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How Title Insurance Works.

Title insurance is unique. Unlike other insurance options that require monthly premiums, title insurance is charged as a one-time fee. It is paid by the buyer at closing, and is approximately equal to .5% of the purchase price. Basically it protects you and your lender from liens or defects unknown when you bought the policy. […]

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What’s in a Preliminary Title Report?

Do you know what to look for in the preliminary title report/commitment? Your agent should, because the report can reveal negative matters that can hurt you. The report shows what matters are on the title of the home, what are excluded from coverage, and what the seller needs to do to remove those matters that […]

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Don’t Overpay for Title Insurance

When buying a home or refinancing your existing mortgage, you should ask whether you are entitled to a title insurance discount.  Reduced premiums are often available, yet usually are not volunteered or offered.  When considering how much that insurance can cost, it is worth it to find out. First, there are two types of title […]

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