Why You Need Title Insurance

Protecting your Home Investment

A home is usually the largest single investment any of us will ever make. When you purchase a home, you will purchase several types of insurance coverage to protect your home and personal property. Homeowner's insurance protects against loss from fire, theft, or wind damage. Flood insurance protects against rising water. And a unique coverage known as title insurance protects against hidden title hazards that may threaten your financial investment in your home.

Protecting Your Largest Single Investment

Title insurance is not as well understood as other types of home insurance, but it is just as important. You see, when purchasing a home, instead of purchasing the actual building or land, you are really purchasing the title to the property – the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards.

Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against loss from hazards and defects that already exists in the title and is purchased with a one-time premium.

Two Kinds of Title Insurance Benefit You in Two Ways

There are two basic types of title insurance:

  • Lender or mortgagee protection,
  • Owner's coverage.

Most lenders require mortgagee title insurance as security for their investment in real estate, just as they may call for fire insurance and other types of coverage as investor protection. When title insurance is provided, lenders are willing to make mortgage money available in distant locales where they know little about the market.

Owner's title insurance lasts as long as you, the policyholder – or your heirs – has an interest in the insured property. This may even be after you have sold the property.

Depending on local practices and state law where the property is located, you may pay an additional premium for an owner's policy or you may pay a simultaneous issue charge – usually a smaller amount – for the separate lender coverage. You may even split settlement costs with the seller for the lender or owner's policy.

What does Your Premium Really Pay For?

An important part of title insurance is its emphasis on risk elimination before insuring. This gives you, as the policyholder, the best possible chance for avoiding title claim and loss.

Title insuring begins with a search of public land records affecting the real estate concerned. An examination is conducted by the title agent or attorney on behalf of its underwriter to determine whether the property is insurable. The examination of evidence from a search is intended to fully report all "material objections" to the title. Frequently, documents that do not clear transfer title are found in the "chain," or history that is assembled from the records in a search. Here are some examples of documents that can present concerns:

  • Deeds, wills and trusts that contain improper word or incorrect names;
  • Outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes;
  • Easements that allow construction of a road or utility line;
  • Pending legal action against the property that could affect a purchaser; Egypt
  • Incorrect notary acknowledgments.

Through the search and the examination, title problems are disclosed so they can be corrected whenever possible. However, even the most careful preventive work can not locate all hidden title hazards.

Hidden Title Hazards – Your Last Defense

In spite of all the expertise and dedication that go into a title search and examination, hidden hazards can emerge after closing, resulting in unpleasant and costly surprises. Some examples of hazards include:

  • A forged signature on the deed, which would mean no transfer of ownership to you;
  • An unknown heir of a previous owner who is claiming ownership of the property;
  • Instruments executed under an expired or a fabricated power of attorney; Egypt
  • Mistakes in the public records.

Title insurance offers financial protection against these and other covered title hazards. The title insurer will pay for defending against an attack on title as insured, and will either perfect the title or pay valid claims. All for a one-time charge at closing.

Your home is your most important investment. Before you go to closing, ask about your title insurance protection, and be sure to protect your home with an owner's title insurance policy.

The L Steps – 6 Steps of Real Estate Investing

Real estate investing in Miami real estate is now becoming popular again as there are many properties in foreclosure, short sale, bank reo's, and government foreclosures. With such an overwhelming inventory of homes available for sale a real estate investor must be able to determine which one to purchase. Investors must follow six steps in order to learn, understand and achieve Miami real estate investment success.

These are the six L steps to Miami real estate investing:

1. Location – Location, location, location is still the key of buying Miami real estate. Buying Miami real estate just because the price is low in a declining area is big mistake that should be avoided. Look for homes in an excellent location like, good schools, economic stable and growing neighborhoods, near shopping centers and malls, near bus stops and metro rails, near hospitals and restaurants. Sometimes it is better to pay a little more for a property in a good location than getting a bargain in a place where it is very hard to sell or rent the asset. Location is often overlooked in purchasing real estate as many investor think they can exceed a bad location if the price is low enough. Out of two homes that are exactly the same, the one in the best location will command a much higher sales price and rental income. Location is the number consideration when purchasing Miami South Florida real estate.

2. Long Term – Real estate investing is a long term proposition. Do not think you are going to be a millionaire over night. It takes years of hard work and dedication in order to succeed. Hold any property at least one year before selling it. Capital gain taxes will be greatly reduced. Consider renting the property for at two or three years. The rental income generated will help you to properly repair and renovate the property. Many investors purchased properties in the middle of real estate boom with no money down and no equity. These investors were thinking of flipping the houses fast and making a killing in the process. Many homes now in foreclosure are due to investors that were caught in the middle and now realize that real estate investing is very hard to time. Long term Miami real estate investing is the secret to a successful real estate career.

3. Lease Option – Never rent a property with a lease option to buy. Either sell or rent it straight out. A lease option is usually a disaster for both buyers and sellers. The tenant will demand a large discount of the rent to go towards the down payment and closing costs. The problem is that tenant will not buy the property at the end of the lease and the landlord / seller will have wasted a lot of money in rebates given to the tenant / buyer. Demand a 20% or 30% deposit from the tenant / buyer and a clause in the contract that if they default on the purchase they will lose the deposit. This technique will force the buyer / buyer to purchase the property or lose the deposit. The risk of losing the deposit will eliminate the tenant from taking advantage of the landlord by walking out of the contract after receiving a monthly rental discount.

4. Local – Buy real estate close to where you live. Do not buy real estate in another state or in another country. Keep real estate investing local. Buy in your own county and in your city. The more you know about the area where you are buying the better the decision will be. The investor should always be close to the investment property. The Miami real estate investor should inspect the property often to determine any repair, roof and other problems. The landlord must inspect the property every month when collecting the rent. Check for the number of tenants actually living in the property, check for damages and destruction of the property and overall condition of the place. The investor / landlord will not be able to inspect and determine the condition of the property if it is located far away. Keeping real estate local is an essential step in real estate investing.

5. Leverage – Most real estate books and seminars tell you to use other people's money when purchasing real estate. This technique is not the best and buyers should try to buy the property in cash if at all possible. Buying a house in cash will help you get a better deal and allow you to negotiate from a position of strength. A cash buyer will always have the upper hand in negotiating with banks, property owners, and other sellers. Cash buyers will not suffer and go into foreclosure if the market turns and they are unable to sell or rent the house right away. Like Dave Ramsey always says "cash is king and debt is dumb". Buying an investment property in cash is an excellent way to avoid Miami real estate investment errors.

6. Learn – Research the property and learn everything about it before you buy. A mistake in Miami real estate investing can be very costly. Usually you make your money when you buy not when you sell. Buying the property at the wrong price the wrong place and at the wrong time could be detrimental. One mistake could wipe you out and put you out of business before you start. Ask questions to the experts, real estate agents, appraisers, mortgage brokers, and other real estate investors. Learn, research, educate yourself in all aspects of real estate investing before you purchase the asset.

It is definitely a buyers market in Miami-Dade County. Miami real estate investors have more choices than ever before when it comes to real estate investing. Investors must follow the L steps, the 6 steps real estate investor guide to successful real estate investing in order to achieve their investment goals in the Miami real estate market.

Online Shopping For School Supplies

This season, when it comes time to back-to-school shopping, many parents have decided to switch to online shopping for the supplies and even Dell computers their children need. One could find anything and everything on a child's list for school through various online stores and Internet sites that are connected to real brick and mortar stores. Besides being convenient, getting supplies for school through online vendors, there is also a money saving incentive. Most of the online stores are significantly cheaper than the real world stores, even those connected to a real world store.

Canada online shopping is a big deal because they save even more money and taxes when they shop through the Internet rather than in the brick and mortar stores. Many of the online stores will offer free or very low cost shipping if a person's order total goes over a certain amount and with school supplies, this is easy to do. From notebooks to crayons and staples and pens, most of the online stores carry everything a student will need to outfit them for the new semester ahead.

Now is the time to begin hunting for bargains with all the back-to-school sales, even if one does not have a child going to school. These discounts are for everyone and anyone; They do not have to be a student in order to save money on things like laptop computers, folders, rulers and high tech calculators. Canadian online shopping consists of many different electronics, school supplies such as notebooks, pens, papers and books as well as discounts on clothing and shoes, everything a student would need to go back to school.

For students who are going off to college or universities that will be staying in a dorm or apartment, they need more items then the typical school supplies. These students will need home furnishing type supplies and most of the time; These types of items are also on sale at this time of year. These items consist of bed spread sets, desk and chairs, organizers for a desk, organizers for bathroom necessities for those who share a bathroom with others, small kitchen appliances and area rugs as well soft style floor seating.

There are many smaller office supplies or desk equipment that one may need during the course of a semester that they should purchase now to save themselves from running out and getting it later. Things such as a three hole puncher, ruler, protractor, paperclips, brads, rubber bands, masking and scotch tape, sticky notes, erasers, scissors, colored pencils, markers, glue and white-out. These things may not be used everyday but could be used at some point in the semester for a special project and it would be nice to have them on hand.

A lot of online shops will ship faster service for a small fee if someone needs a certain supply right away for a project. For example a poster board in a certain color or a type of scissors with a wavy edge. These are items that would cost less to purchase online then at the local supply store or book store and saving money is what college students need to do everywhere they can.

There are a couple of things to beware of when shopping online. One is the shipping and handling fees. Most companies are reducing their shipping fees in order to bring in more customers. However, they are raising their handling fees to make up for this lack of income. An individual would be wise to shop around for an online shop before filing their shopping cart they will no doubt save even more money.

There are also some stores online that will charge taxes and other that do not. There is no law that says an online store needs to collect taxes from a state where they are selling to. For example if a person lives in Missouri and they are shopping at a place in Texas, they may have to pay a Texas state tax online but they do not have to pay Missouri state taxes. This is something to watch out for.

The New Marketing Research Tool – Twitter

Conducting marketing research is very important for any business. The key to success of any online business is the profitability of the niche market you select. First and foremost though should be the determination of market demand. Without the demand the probability of generating any profit is zip. With that said our consideration will turn to a reliably new way to conduct market research that will enable you to unforgettable those niche markets with plenty demand and profit potential.

Twitter, the fast growing micro blogging social network site offers you the opportunity to tap into a real time search engine containing valuable search information.

If you're looking for online business ideas around which to build an income Twitter could be your answer.

Let's look at a simple 3 step process you can use to help you generate potential niche marketing opportunities by using Twitter.

Determine Popular Topics First

Firstly you want to see what everyone is talking about by looking at 'trending topics' which is located on the right hand side of the page. Being Twitter is a highly populated social network site you can assume trends found here reflect most of what you may find across the internet.

Under trending topics you'll find separate 'discussions' being held on various topics. The topics or keywords of these individual discussions are precluded by a hash mark (#). Choose a topic of interest to you and join the conversation.

Focusing on conversations that interest you is very important!

Two other methods you can use to locate popular topics on Twitter are visiting hashtags dot org and stufftotweet dot com.

Find the Conversations

Track down these conversations on Twitter by entering the appropriate keywords into the search box.
Plug into conversations as this will be your market research.

Start to follow some of the participants since once once you follow someone they'll follow you back. This allows you to stay up with and view these conversations as they occur from day to day.

Plug Into & Follow the Conversations

Now that you've located these conversations you of course will contribute where you can but you definitely want to listen and take notes. You are looking for trends, common problems, angles, or other ideas to explore. If possible unforgettable a common problem and develop a solution for it. This could be the basis of your niche.

Throughout the course of these discussions various ideas, opinions, or preferences will be offered so take note of this. Focus in on the more prevalent and consistent 'sub-topics' to help you' narrow 'your search'.

By following these conversations over an extended period of time you'll be validating the thinking popularity or interest of the topic you're 'researching'.

This process will be connected over a period of time and the information you collect can then be used to further explore with other market research tools. You'll want to do this to insure your hunch / finds possess the market potential you are looking for.

Marketing research can be very time consuming and boring but it is a necessary evil for any online business. The key to your success will the profit potential of the niche market you select as the core of your business. Determining the market demand is your first step when considering the potential of any number of niche markets. The accuracy of your market research is crucial and if done correctly will lead to profitable online business ideas for you. Knowing how to efficiently use the real time search engine that Twitter should enable you to speed up the research process. Just following the current trends and the conversations surrounding them should supply you with very insightful data. It is then up to you to put this information to work as you apply it to your niche marketing efforts. The end results should be rewarding.