Benefits of Title Insurance and the Closing Process in Larimer County

Protect Your Real Estate Investment with Title Insurance

This article will explain what you can expect during the closing process from the moment your offer is accepted to the moment you get the keys to your new home. Understanding the importance of Title Insurance and choosing a Title Agency you can trust to guide you through the closing process is the key to a smooth real estate transaction in Larimer County.

Escrow Funds and How to Buy Your Next Home

Escrow is an account held by a third party on behalf of two parties in a transaction. Because there are so many things that have to happen to complete a home sale, the best way to prevent either the seller or the buyer from getting ripped off is to have a neutral third party hold all the money and documents related to the transaction until everything has been settled.

The Title Agency, Title Search, Title Insurance Process in Larimer County

A Title Search and Title Insurance provide peace of mind and a legal safeguard so that when you buy a property, no one else can try to claim it as theirs later. A title officer will perform a title search to make sure there are no clouds on the title or third-party claims to a property that could call into question or invalidate your ownership of it. If there are, these problems will need to be resolved before the property becomes yours.

Find an Attorney Near Me

This is an optional step if you want to get a professional legal opinion on your closing documents. Even most well-educated people can’t completely understand their closing documents; an experienced real estate attorney will not only understand them, but also know where to look for potential problems in your paperwork.

Negotiate Closing Costs Before You Buy in Larimer County

The escrow company can’t be expected to provide its services for free, of course, but many companies in this industry take advantage of consumers’ ignorance and boost their bottom lines by charging junk fees. Though there is some debate over what is considered a junk fee, fees to look out for include administrative fees, application review fees, appraisal review fees, ancillary fees, email fees, processing fees and settlement fees. If you’re willing to speak up and stand your ground, you can usually get junk fees eliminated or at least reduced. Even fees for legitimate closing services can be inflated by an unscrupulous agency. That’s why you want the most trusted Best Title Insurance Agency in Larimer County. The Group Guaranteed Title – Title Insurance Agency is here to help with all of your title insurance needs in Larimer County. Call (970) 613-4364 to contact us. Check out The Group Guaranteed Title – Title Insurance Agency rate card and learn more about our performance standards.

Complete the Home Inspection

A home inspection is not required, but it’s not a good move not to have one performed. If you find a serious problem with the home during the inspection, you’ll have an opportunity to back out of the deal or ask the seller to fix it or pay for you to have it fixed (as long as your purchase offer included a home-inspection contingency). A pest inspection is separate from the home inspection and involves a specialist making sure that your home does not have any wood-destroying insects (termites or carpenter ants). You wouldn’t want to buy a house with a termite problem, as even a small problem can spread and become very destructive and expensive to fix. Wood-destroying pests can be eliminated, but you’ll want to make sure the problem can be resolved for a cost you find reasonable (or for a cost the seller is willing and able to pay) before you complete the purchase of the home. In fact, if any pest problem, even a minor one, is found, the mortgage company will require that it be fixed before you can close.

Renegotiate the Real Estate Offer

Even if your purchase offer has already been accepted, if inspections reveal any problems, you may want to renegotiate the home’s purchase price to reflect the cost of any repairs you will need to make. You could also keep the purchase price the same but try to get the seller to pay for repairs. If the purchase contract states that you’re purchasing the property “as is”, you don’t have much recourse to ask for repairs or a price reduction, but you can still ask. You can also still back out without penalty if a major problem is found that the seller can’t or won’t fix it. The Group Guaranteed Title – Title Insurance Agency is here to help with all of your title insurance needs in Larimer County. Call (970) 613-4364 to contact us. Our vision is to be the best in the industry by striving for extraordinary results in our service, products, and customer satisfaction. Check out The Group Guaranteed Title – Title Insurance Agency rate card and learn more about our performance standards.