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What Is Title Insurance in Georgia?
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

When you purchase your Midtown Atlanta condo, one of the closings costs you will find on your HUD-1 or closing statement will be for two policies for title insurance. One will be a policy for your lender (unless you paid cash for your property) and the other will be for you. So...

What Is Title Insurance in Georgia?

What is Title InsuranceBuying a home is unlike buying any other product or service in the world. Records for property purchased in the United States go back hundreds of years. Record keeping has not always been as sophisticated as it is today.  Many laws that affect ownership, taxes on property and other's possible rights to property change and can adversely affect ownership of real estate.  Judgments, liens and other debts belonging to previous owners of real estate can often appear in public record related to the property and often are not easy matters to simply dismiss.  Most people would be surprised to learn the variety of things that affect title to their property and how often those things become a problem.

When a buyer purchases a home and purchases an owner's title insurance policy they are insured against these complicated matters. Owner's title insurance guarantees the Buyer(s) right of ownership to their real estate, no matter who or what came before them. At Perrie & Associates we research the property ownership history going back up to 60 years. We will clear any matters that may stand in the way of ownership or cause liability or financial obligation before a buyer purchases and we'll insure that the record of the transaction gets recorded properly and quickly.

Why is Title Insurance in Georgia Important?

Here's how things could go wrong...

Midtown Atlanta Condo Title InsuranceIn extreme circumstances the seller may knowingly try to sell a home that he or she doesn't even own or a renter may be posing as the property owner. Typical title issues are less worthy of a crime show, but more complicated. For example, the seller might have co-purchased the house ten years ago with a cousin that he/she hasn't talked to since and is unaware that the cousin now needs to sign off on the sale. Or a problem might be lurking in the more distant past. For instance, the seller might have bought the home from a single woman, not realizing that her ex-husband still co-owned the property and hadn't signed off on the sale as required. Or the seller might have inherited the house under the terms of a will that -- oops -- turns out to have been out-of-date and a more recent will leaves the house to someone else.

Liens also pose a significant threat to title. If liens have been filed against the home then specific people or agencies may have legally claimed the right to be paid from the proceeds of the property sale in order to settle the owner's debt to them. Typical debts include taxes, child support, and contractor's fees. These liens can stick to the house like glue until the house is sold or foreclosed on.

The lender will also require you to buy a "lender's policy" covering and protecting the lender's collateral in the home. Buyer's often question "Why do we/I need both policies?"

There is no preliminary title search (no matter how complete) that can predict when a long-lost relative or heir will turn up. Or, whether paperwork buried for years under a misspelled name will reveal a claim concerning the property.

The lender's policy will kick in to defend such claims and might resolve the matter against whoever brought it up. But what if the court decides that the long-lost relative is in fact the house's true owner? Then the lender's policy will cover the lender's loss. However, the Buyer(s) will be out the amount of their down payment, principal payments and appreciation not to mention that they'll no longer own the home! The owner's policy, however, will cover the Buyer(s) financial loss up to the policy limits.

This information is courtesy of Perrie & Associates, one of our closing attorney firms we have used for our clients.

This article originally appeared at MyMidtownMojo.com 

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
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The Condo Is Occupied and You Want to see it NOW?
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

Scheduling Showing AppointmentsAs a real estate broker, and a blogger, I often say my topics come from real life experiences. And I try to use those experiences to make myself a better agent. And I share these experiences so Buyers and Sellers can understand what we go through when we represent either one of you! 

But this post was also inspired by a post from Bliz Biz and Bill Spear about a Seller being upset that Bill and his Buyers were in the house TOO LONG!!! Seriously?

I had a call from an agent to show one of my listings yesterday. First off, she said she had "lots of things to look at today, so I have no idea when we will be there." While the listing clearly states the home is occupied, I mentioned to the agent that anytime before 4pm was fine as I knew my tenant was at work. If it was going to be after 4pm, they would need to schedule an appointment so I could coordinate. 

At about 5:15pm, I get a call.

"Hi Thom...This is Rita Real Estate Agent and we are in the building and would like to look at your listing NOW."

Ah, what part of that first conversation did you miss Rita? 

So, I reached out to my tenant and told them it was completely acceptable for them to refuse a showing with 5 minutes notice. Lucky for ALL of us, he was out of town. 

Just as the case with Bill, we never know how long we may take showing a home. I sell mostly condominiums, so I know about how long we will spend in a condo. And add amenities to that as well. But I've got a pretty good system down to keep us on schedule. But, if we DO start to run behind, or ahead of schedule, I stop us along the way and simply tell my Buyers I need to make some schedule adjustments because some of our upcoming homes are occupied and we have a time frame to be there. 

Can't tell you how amazed the Seller's are if I talk to them directly! Some agents seem a bit mifted that they are going to have to call the Seller again...but hey, are you not happy I called to advise either way, rather than show up late, or early?

The ultimate goal of the agent/broker is to bring a Buyer and a Seller together. 

It's the landmines along the way that keep us on our toes and having a glass at the end of the day! 

Broker Martinis at 5pm

 

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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Speechless Sunday -- Mountain Calming in North Carolina
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

Sadly, I love the beach. The ocean, the breeze, the sand....I would love to walk the beach every night! But the beach is 6 hours from Atlanta! So, we take Option 2...which is not a bad one. 

Even my partner who LOVES the beach is pretty happy now when we go to the Mountains! I can say, I'm recharged as well. Mind you, recent trips involve rock hunting for our stream bed project in our front yard, but we still get time to recharge! 

Enjoy Silent Sunday! 

Stream near Lake Fontana

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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Do You Look at Your OWN For Sale Listing?
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

That seems like a pretty obvious question, right? But do you?

Do You Look at Your OWN Listing?

You are selling the single biggest asset you own. (Most likely anyways!)

You did your homework, and found agents on-line. Or maybe it was a recommendation from someone in the office. Or your gym. Nothing wrong with a referral if your friend was happy with them, right?

You (hopefully) met with at least a couple of them before you made your decision. The presented you a marketing plan, showed you some of their past sales and you said "Let's Do This!"

But once you've signed your Listing Agreement, and the marketing of your home or condo begins, how much do you follow up on what your agent is doing? Or supposed to be doing?

The primary place your home or condo will be marketed is....well....where you are right this very moment. On the Internet. On your laptop, phone or tablet. This is most likely where it will be seen first. So, have you looked at your own listing to SEE how it is being marketed? Many agents hire professional photographers to do the photographs for listings, and many do not. It's not to say they HAVE to have a professional so this, if they know what they are doing. But do they? They may be very well versed in photography. And have the right equipment. I personally have a DSLR camera with a wide-angle lens (a MUST if you are trying to photograph a condo!) and my iPhone. Hey, you may think an iPhone is not professional, but you tell me.    

Which one of these photos I took was taken with the DSLR and which with my iPhone? Point being, both clear, crisp photos that would look great in the marketing of your Midtown Atlanta condo, especially Viewpoint Midtown, the building on the right.

But I am totally amazed at the photos I find on listings! These photos are being used by the Seller's agent to market their home!!!    The left is a very blurry bathroom I found just this morning....the middle....a CAT? And the right....do the jeans and the guys come with the condo?

Do You Look at Your OWN For Sale Listing?

If not, maybe you should. And if your photos look like these three or the upside-down bar stools at the top, you better be asking your agent for some new photos. Or maybe be looking for a new agent.

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

Dsc00774rz
But...You're A Real Estate Agent. Why CAN'T You Help Me?
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

Questions About Real EstateYes, I'm probably beating a dead horse, but blogging is an outlet, right? And I mean nothing against the callers that I get that have this response, so I want to give you, the Buyer, some reasons why I just may NOT be able to help you.

  • "It's Not My Listing"  This can often be a challenge to explain to a home buyer that does not know how the "back of the house" operates in real estate. See, when you find a listing on MyMidtownMojo.com, it for all intent and purposes, looks like my listing. But chances are, it's not. We have a process/system/whatever called Internet Data Exchange (IDX) whereby we are able to display listings from other brokers on our website. And they can do the same. So when you start asking me numerous questions as though I am the listing agent, most likely I am not. Does not mean I won't help you, but....

 

  • "Yes I Have An Agent, I just have some questions..."  Well, you actually answered the question yourself. If you are a home buyer and you already are working with an agent (meaning you have a brokerage relationship with that agent) then they should be asking your questions for you! They are representing you, and that is what they are getting paid to do. I've often had the statement from a Buyer, "Well my agent is out of town till Monday, we'd just like to see the home." Again, I can't do that if you have an agreement, and secondly, unless you are planning to work with me, I probably don't want to show a home and not get paid. (It's kind of like you going to work tomorrow, but not getting paid for the day!) You need to work with YOUR agent when you want to see a home. 

 

  • "I want to talk to someone at the bank that will take my offer." This exact statement from a Buyer today is what prompted me to write this post. Going back to the IDX, the Buyer found the listing on the Internet, and it had my name on it. He made the presumption that is was my listing, and I could help him "talk to the bank." First off, not my listing. Secondly, he HAS an agent, and has placed on offer on the property but has not gotten a response. In helping him as much as I could, I explained it was a different sort of process on this specific listing, but there were instructions in the Agent Only Remarks on how to find out the status of an offer. I advised him to call his agent and they should be able to follow that process. 

The same goes for the numerous rental calls I get. I sometimes feel bad for the potential renter on the other side, but I simply can't make money handling rentals. Renters have a tendancy to have no loyalty (meaning they will call 10 listing agents to look at 10 listings vs. 1 agent to look at 10 listings) and you end up showing property and never get paid. Depending on the listing, I sometimes will give the caller the listing agents direct information. (There are some listing agents out there that should be gosh darned happy when they get these direct calls...they get to keep all the money...not that they were sharing any of it in the first place) 

I'm here to help Buyers find that perfect home or condo. I get no greater pleasure than when I can see their eyes light up when they have "found the one" and even more so when all works out, we close and it really is THEIR home. But sometimes, we just can't help. 

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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6 Reasons to Consider a Price Reduction
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

Real Estate and RetirementWe all (Sellers) want to get top dollar for our home. The price we get might affect what we are going to buy next, or other plans like buying a motorhome and touring the country!  And while you want that top dollar, here are some reasons to consider reducing your list price.  

When you don’t have a contract and a closing date, there could be a host of reasons for this, and some are simply out of your control. Location….you can’t move your condo building, or even where in the building your condo is located; or having a unique home that is totally different.

But, there is one major part of the sale process you can control: your home price. Are you a prey to one of these signs?

How long have you been on the market?
What does your real estate agent tell you about the average number of days it takes to sell a home in your market. If the answer is 60 and you're at 75+, your price may be affecting buyer interest. The longer a home sits on the market, the more a buyer(s) will think there is something wrong with it. Time to consider a price adjustment.


Reasons to Consider a Price AdjustmentLots of Showings, but the offer never comes…  Lots of showings of your condo means the marketing is working and your condo is being exposed to the buyers in the marketplace. But if the offer never comes…something needs to give! Ask you agent what other agents have said about your condo? (Provided they have been able to get showing feedback….a whole other subject!)  Time to consider a price adjustment.


The Showings have left the building….
It’s not uncommon to get the most traffic of Buyes when you first list your condo. Buyers that are in the market to buy want to see the new inventory and make an offer before anybody else gets the “home of their dreams.” If you start to see fewer and fewer showings….it’s a sure sign that buyers think your condo is overpriced, and they are sitting on the sidelines waiting.  Time to consider a price adjustment.

Your deadline is not the Buyer’s
You may have plans to be on the coast of Florida in your new motorhome for the winter, but if you’re not under contract, you need to do something to generate more buyer interest. Are you priced well ABOVE the condo competition in your market? Unfortunately, it's not how much money you need for diesel fuel that determines the sale price of your home, it's how much money a buyer is willing to spend. Time to consider a price adjustment. 

Making changes is not possible or practical
Maybe you've created a unique home, but to the buyer, it’s going to need changes. Even if the condo is fairly new…you didn’t upgrade kitchens or baths. It’s still pretty much “what the builder installed.”  Did you take out a wall or remodel. It works for you, but now maybe not the buyer. There are still low cost changes you can make, that DO make a difference. If you have painted vibrant colors, repaint and “tone it down.” So you have lots of furniture or artwork? Tone it down. You want potential buyers focusing on the condo, and not your possessions. But if there are substantial changes a buyer is going to have to make to your home, they may not make that offer based on the price you have your condo listed at. Time to consider a price adjustment.


The market has changed
Has the market changed? Have similar properties sold since you listed? New condos come on the market? If there are comparable condo sales in the area and they show your price well above what they sold for….Time to consider a price adjustment.

 

 

I understand that making a price change can be difficult when you have future plans. But if your home is not selling, it’s time to take a look at your price. 

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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West Midtown Market | Sunday, December 8, 2013 11AM-7PM
Thom Abbott, Midtown Atlanta GA Condos For Sale (MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living)

West Midtown MarketOne of the fun things of any city you live in...is the local activities that happen all around you. From festivals to street markets, there is always something happening in your city...and in Midtown Atlanta!

West Midtown Market | Sunday, December 8, 2013 11AM-7PM

A week from this Sunday, mark your calendar for the West Midtown Market at 1000 Marietta Street. This is one of those infamous "pop-up markets" where an organizer brings together local merchants into some unused space for a day of commerce! It's really pretty cool stuff!

The West Midtown Market website has links to all the merchants that will be featured, as well as some restaurants that will be offering up some specials as well. I've been meaning to get to the 5 Seasons Brewery location in West Midtown....like forever! (I've been to the Prado location in Sandy Springs!) Now, I've got a double reason to go!

West Midtown is creating its own spice....with the warehouse-type space available, and numerous new restaurants as well as totally cool living options like White Provision...it's a part of Atlanta you need to check out! Keep in mind, you are a hop, skip and a jump from IKEA and Atlantic Station to keep your holiday shopping moving right along!

Hope we see you there!

Associate Broker

Thomas Ramon Realty @ Palmer House Properties

2911 Piedmont Road, NE, Atlanta, GA 30305

Direct: 770.713.1505  Office: 404.876.4901  Fax: 404.478.8495

 

Thom Abbott on Facebook               

 

 



 SEARCH ATLANTA HOMES FOR SALE BY ZIP CODE!

 

Brookhaven/Ashford Park 30319 Buckhead 30305
Buckhead 30327 Buckhead 30342
Chamblee 30341 Decatur 30307
Doraville 30340 Downtown Atlanta 30303
Druid Hills 30329 Dunwoody 30338
East Atlanta/Ormewood Park 30316 East Lake/Kirkwood 30317
Grant Park 30312 Midtown Atlanta 30308
Midtown Atlanta 30309 Midtown West/Collier Hills 30318
Morningside 30306 Morningside 30324

Are you looking for a specific Intown Atlanta neighborhood to focus on?

Contact Thomas Ramon Realty and we can set up a search for any specific neighborhood you are looking for!  

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