Archive for June, 2016

About the appraisal (when selling your home)

[ 0 ] June 16, 2016 |

Some things to consider once the appraisal has been scheduled:

  • Similar to the inspection process, we think it’s a good idea to have your home clean, tidy, and looking good when the appraiser arrives. Unlike the inspection, however, the Buyer will not come to the house during the appraisal, so it is fine for you to stay.
  • If you are there at the same time as the appraiser, feel free to point out improvements and upgrades, but keep the suggestions and comments to a minimum. And, certainly don’t suggest what you think the home is worth or ask the appraiser what he or she believes the appraised value will be.
  • If you can’t be home, no problem. The appraiser will be given a code to the lockbox and will use it if you are not home.
  • Finally, even though we have never personally dealt with any issues, secure all valuables and account numbers.


The Title Commitment

[ 0 ] June 16, 2016 |

road-mountainsTitle Insurance is an essential piece of any real estate transaction, however it can also be somewhat complicated and potentially difficult to understand. Here, we’ll offer an overview of Title Commitment, and specify the roles and responsibilities as they relate to the title company, us, and you, the buyer or seller.

Once you are under contract for the purchase or sale of a property, you will receive a Title Commitment, also called a Preliminary Report. The Preliminary Report is an offer to issue a Title Insurance Policy as of a specific date and time. You will find the following information within the Preliminary Report:

    • Name of owner of record (should be seller’s name)
    • Type of ownership interest (e.g., Fee, Leasehold Estate)
    • Reference to property legal description (actual legal description likely detailed on separate schedule)
    • Plat map
  • Exceptions: All properties have exceptions, those matters not covered by the Title Insurance Policy, and they relate specifically to the subject property.
  • Exclusions: Preprinted limitations on coverage that are included on all properties of the same type

Roles and responsibilities:

Title Company

  • As the experts in this area of the real estate transaction, the Title or Escrow Officer will ensure that all Exceptions to the Title Commitment have been addressed


  • Check accuracy of basic facts of Preliminary Report such as names, legal description, necessary parties in distribution list, etc.
  • Answer client questions when possible or refer questions to Title or Escrow officers when appropriate


  • Review Preliminary Report once received
  • Make a note of any questions that either we or the Title/Escrow officer can address

Please refer to the following links for further detail, and please contact us with any additional questions.

 Q & A About Title Insurance

 Why are there separate policies for owners and lenders?

 National Real Estate Glossary

 Video & Article – How to Read a Preliminary Report

 Video – Common Title Problems

 The Title Commitment – Overview and Tips on Reading