Your offer has just been accepted on that home you’ve been dreaming about – congratulations! 🎉 You’re ready to wrap up escrow and move on in, right? Well hold on just a moment. Along with all of the other things to consider during the escrow process is to determine how you will hold title on your new property.
No idea what I’m talking about? Let’s dig in a bit on title – what it is, why it matters and what your options are.
Let’s be honest, the home buying process can be completely overwhelming. There are so many aspects that go into it, and even more paperwork that needs to be done. Who wants to add one more thing to explore or another thing to sign? While wanting to be “done” can be a strong desire, be sure to make room in your process for one last important thing – a home warranty.
What Is A Home Warranty?
It’s sad to say, but there’s always someone out there looking to make a quick and easy buck. There’s the “prince” from Nigeria, your “friends” who have gotten stranded in a foreign country and lost their wallet, even “grandchildren” calling their grandparents in despair needing cash. All scams called wire fraud.
Thieves have even figured out how to have a big payday by scamming people during escrow closings, making off with thousands, or even hundreds of thousands, in down payment funds. How often does this happen, you ask? In 2017, the FBI reported over $5.3B in wire fraud losses, with over 10% of that being in real estate alone.Read More