Archives: FAQs

Always ask the specific title company what they would like you to bring. Often times all that is needed is a legal form of identification such as a driver’s license.

Some purchase contracts will say which side (buyer or seller) picks the title company. Some purchase contracts do not specifically say. As a Buyer is you don’t have a preference often your lender will choose the title company for you. As a Seller sometimes you can order preliminary title work. This is when a title …

Read moreWho picks the title company?

Please see the following website: https://valmerland.com/title-services/what-is-title-insurance/

This is typically a set amount of time that a buyer has to perform inspections of the property to determine if there are any issues or if they would like to proceed with the closing.

An appraisal is something that your lender will require in order to make the loan. They will pick an independent appraiser to determine the fair market value of the property you are trying to buy. The appraiser will find comparable or like-kind properties that have sold and based on a wide array of factors will …

Read moreWhat is an appraisal and why does my lender require one?

A buyer may ask for seller credits in a purchase contract. Seller credits are typically a monetary amount that a buyer may ask for to help with their closing costs. For example, say a property is listed at $95,000, a buyer may offer $100,000 with a $5,000 seller credit. The Buyer is still paying the …

Read moreWhat are seller credits or seller concessions?

On the Buying side, there are fees charged by the title company (title costs) These generally include but are not limited to, a title insurance policy fee, title search fee, closing fee, and document prep fee. If you are obtaining financing there are several fees charged by your lender (lending costs). For a complete list …

Read moreWhat are closing costs and who pays for them?