Riverside Abstract

Experts at title insurance agency, Riverside Abstract , indicate that buying a home is an exciting, but also a complicated process.

Among the different modes of real estate ownership change, those that are probably most familiar to you are transmission by sale, donation, exchange and inheritance. All of them affect the market to a greater or lesser degree, but transmission by sale and purchase is the one with the highest incidence. From liability pitfalls to tax advantages, each type of property ownership brings unique benefits and drawbacks – and it’s important to be fully aware of them before you invest. In this post, Riverside Abstract, a title insurance company from Brooklyn, will explore the different types of property ownership in real estate.

The title insurance policy protects the financial interest in a property. Two types of title insurance policies are available: the lender’s title insurance policy and the owner’s title insurance policy. In most of the cases, the lender, in order to protect their investment, will always require a lender’s title insurance policy. The insurance policy fee is part of the closing costs. This fee is always reflected as a lender charge on the closing disclosure. The owner’s title policy is optional. This policy is not required in order to purchase a home. However, professionals from the title insurance company, Riverside Abstract , recommend the purchase of this policy, in order to prevent any financial losses to the new home owner from previous home ownership. Why is Owner’s Title Insurance important? There are many options to be considered by the homeowners, when it comes to keeping their homes safe and secure. So, many homeowners choose to install smoke alarms, deadbolt lock...

You might not know this, but the title insurance lender’s policy your bank requires you to buy before funding the mortgage isn’t the same thing as the optional title insurance owner’s policy your real estate agent is recommending you buy to protect your investment. With so many mandatory fees and additional charges required to close on a home, you may be tempted to pass on other optional closing costs, like an owner’s policy. However, before you turn down this option, the title processors at Riverside Abstract, a title insurance company, stress how important it is to know that the lender’s policy only protects the lender. That means that without an owner’s policy, your financial investment in your home is at risk. Riverside Abstract’s real estate attorneys with experience in homeowner's insurance can explain the difference between an owner's policy and a lender’s policy, ultimately helping you make the right decisions.

Mortgage lenders  and property buyers are protected against the problems with a title, which may arise when there is a transfer of property ownership. The title insurance company may pay the legal damages, specified in the policy if a title dispute arises during a sale. When issuing title insurance, the title insurance agency, or attorney researches the records in order to make sure that the property title is clean, that there are no undisclosed heirs to the property, unpaid taxes, pending legal action, errors, fraud or other problems with the deed. To put it simple, it will be verified if the seller really owns the property and is free to sell it. “A title or public record defect, that’s fixed before the transaction closes, is revealed in one out of every three searches,” says Joe Altman, spokesman for Riverside Abstract , a title insurance company, based in New York. After it is checked that the title of the property is clean, an underwriting company is contr...

Riverside Abstract own sources are warning taxpayers to be extra cautious and don’t allow to fall victim to what has become a popular scam resulting in thousands of dollars being stolen. During their annual meeting, representatives from multiple agencies send out a message to taxpayers to be on guard, especially at tax season. Namely, in the past couple of months there have been some phone calls demanding immediate payment, using aggressive language to scare and scam people through phone or email. In almost all of those cases, people were reached through telephone, by con artists who pretended to be CRA agents. With thousands of dollars at stake, these thefts disturbed local residents by coming to their door or calling them home, saying they’ll be taken to court or jail if they do not pay the taxes immediately. Some of those fake tax agents were even so bold to go at people home’s demanding money. As Riverside Abstract informs in a video clip for c-span , in only a few months ther...

We find out from our sources in the title insurance company Riverside Abstract, with has a satellite  office in Trenton , NJ, that the investment in property abroad and property overseas is currently proving to be one of the most popular and profitable media to long-term investments. However, when buying investment property in the emerging markets it can sometimes be difficult to obtain up to date and accurate investment information.  Overseas property investors in the established markets of Cyprus and Spain are now looking to invest at the emerging property markets of Bulgaria, Turkey, and Dubai. Several factors are influencing the property markets in these countries including Bulgaria's entry into the European Union and the recent changes to the property ownership laws in Dubai. As stated on the Riverside Medium Blog , the opportunity to purchase off plan investment property continues to flourish in Cyprus and Spain, however even high...

Buying a home is usually a tough decision. There are many factors that can influence that decision. If you have been renting, you may start to consider that buying is a better option. The monthly payments of the rent are not contributing to your future. The CEO of Riverside Abstract (see Riverside Abstract on Crunchbase ), the title insurance agency, based in Brooklyn, NY, gives you some factors to determine if you are ready to buy your own home. The financial aspect First and more important, you have to determine if you can afford to buy a home on your own. The first consideration you need to have is the money needed for the down payment. More often, it is required to put between 10 and 20% of the purchase price of the home as a done payment. Sometimes, you can negotiate for e lesser down payment. Another thing you have to consider, according to Riverside Abstract escrows, are the closing costs. They can vary between 3 and 6% of the home purchase price. In addition, proper...