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Most lenders will require a borrower to purchase a homeowners insurance policy to protect their home. A buyer may wonder, then, why it is prudent to purchase a home warranty in addition. What is covered under the home warranty that is not covered under homeowners insurance? Homeowners insurance … [Read more...] about Should I buy a home warranty when I have homeowners insurance?

If a buyer opts to purchase title insurance at settlement, the buyer will be faced with deciding whether to purchase standard or enhanced title insurance. All potential title claims covered under standard version are covered by the enhanced version. These include: Third party claims in … [Read more...] about The Difference between Standard and Enhanced Title Insurance

At the settlement table, purchasers often wonder why they are faced with purchasing both an owner's title insurance policy as well as a lender's policy. The difference is as follows: An owner's policy protects the policyholder from challenges to the legal rights to his or her property. The policy … [Read more...] about The Difference between Owner’s and Lender’s Title Insurance Policies

The pandemic revealed something peculiar about the settlement industry: those who work in the industry are "front-line workers." Though we do not typically equate settlement agents with doctors and teachers, like these noble professions the settlement industry is one of the last industries to … [Read more...] about E-closings and Remote Online Notarizations: A by-product of the pandemic

If you are a buyer in a real estate transaction, you will have the opportunity to review a document known as a title commitment prior to closing. The commitment lists the requirements, exceptions, and exclusions to issuing title insurance on the property. It is also a promise, or "commitment," to … [Read more...] about What is a Title Commitment?

The settlement industry is particularly vulnerable to wire fraud. Large sums of money are wired by (often times) anxious buyers and sellers, and most communication is handled via email. Wire fraud was always present in the industry, but we used to be able to detect it much more easily. Fraudsters … [Read more...] about Best Practices for Preventing Wire Fraud