Why Title Insurance?
In Miami-Dade and Broward counties, the buyer usually chooses the title company and pays for the title insurance. The key is, they don’t have to. If you’re a seller who wants more control over the closing process (especially if you already have a title company you trust) it may make your transaction go much more smoothly and with a higher likelihood of ensuring closing when YOU choose the title company.
When you list your home or during negotiations, by offering to pay for the small cost of the title insurance, you can assert that control over the transaction.
Maximizing Your Seller Profit
When you first think about selling your home, you want to maximize your profits in the transaction. Here are some important, often overlooked, ways to make your property stand out and give it the curb appeal and interior sparkle that will help you to command top dollar from your transaction.
Spruce up the front first.
You only have one chance to make a first impression. This may mean planting flowers, laying sod, clearing cobwebs, changing dead lightbulbs and perhaps a fresh coat of paint. Drive up to the house as if you’re seeing it for the first time and see if it’s a home that you would want to stop at. If not, it’s time to enhance the curb appeal.
Detach yourself from the property.
It once was your baby, now it’s going to be someone else’s. Try to see the house through the eyes of the new buyer, and be ruthless as you choose what items to store or remove to ensure the house is clean, elegant and clutter-free.
Remove your pets during showings.
Don’t discourage buyers who are allergic, or who don’t love animals as much as you do. You’re selling the house, so make it as easy as possible for someone to buy it.
Choose a single purpose for each room in your home and make sure it is obvious what it’s for.
You may have an office/TV room/exercise studio, but that will only confuse your potential buyer. If you can make it seem like it’s only a home office, they can see themselves turning into their home office, or else making the room over.
Consider hiring a professional to stage your home for sale.
Yes, it’s one of the final investments in your property, but if your home costs $400,000 or more, it’s often worthwhile in terms of your return.
Top Most Important Things Sellers Should Know About The Closing Process
The Consumer Financial Protection Bureau (CFPB) created the TILA-RESPA Integrated Disclosure (TRID) Rule to improve mortgage disclosure forms, making it easier for you to understand the terms of your loans and closing costs. In order to ensure a timely closing, it is more important than ever that you communicate with your lender, real estate agent and settlement professional.
1. Time is of the Essence
- To avoid delays or a postponement of your closing, be sure to respond to lender and settlement company requests immediately.
- Work closely with your lender, real estate agent and settlement professional to avoid delays.
2. You Have a Choice
- When it comes to service providers associated with your closing, you have a choice. This includes the company or attorney that will close your transaction and most inspectors, just to name a few. In certain areas, the seller will pay for some closing costs and thus will be entitled to select the vendor(s).
- Talk to your lender, real estate agent and settlement professional to obtain additional information about the various service providers and fees.
3. Protecting your Information – Secured Emails
- As an additional security measure to protect your non-public personal information, you may receive secured emails from your lender and settlement service provider.
- You will need to follow the instructions for retrieving that information (which will likely require you to create an account) and make sure that you return any information through the secured email system.
4. Preparing for Closing
- Approximately 10 – 14 days before you are scheduled to sign your documents you should be prepared to communicate with your lender, real estate agent and settlement professional. It will be important for you to provide your hazard insurance information.
- NOTE: Wiring instructions will be subject to strict veri cations to prevent fraud. Discuss this with your closing professionals well in advance.
5. Closing Disclosure (CD)
- A closing statement called the Closing Disclosure (CD) will be used for most loan applications. The CD will be sent directly to you (buyer/consumer) and not your real estate agent.
- The CD is designed to make it easy for you to understand the terms of your loan.
6. Ask Questions
- This is one of the most important purchases of your life.
Do not be afraid to ask questions of your lender, real estate agent and settlement professional.
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