The Scoop on Title Insurance and Its Benefits From Title and Real Estate Closing Expert Bryan Nazor
Title insurance on a property is confusing to many, said Bryan Nazor, title and real estate closing expert. Is title insurance even necessary? What is it for? What could happen if I don’t have it? These are the questions you may be asking yourself and that Bryan Nazor said he hears all the time at Main Street Title, his New Jersey company.
“Title insurance is basically proof that the title that shows ownership of a property is legitimate,” Bryan Nazor explained. “It protects against claims against the title.”
Title insurance is something you certainly do not want to skip when acquiring a new property, Bryan Nazor said. The history of a property can be uncertain and the only way to protect against claims is by having good title insurance. Buyers should expect to buy a title insurance at a one-time premium at the close of the escrow, according to Bryan Nazor.
Title insurance is not just used in the United States, Bryan Nazor said. Other countries use it as protection against claims on a property. These countries include Australia, the United Kingdom, China and Canada, among others. So even if the property you purchase is not in the United States, you should still look into purchasing a title insurance policy, Bryan Nazor said.
Additionally, title insurance is for residential and commercial properties alike. Bryan Nazor said he has worked with home owners refinancing their homes, buyers, lenders, investors, attorneys, builders, developers, mortgage brokers and realtors. There are all kinds of real estate transactions that can benefit from title insurance, Bryan Nazor said. He said it is important to find a title and real estate closing expert in your area to talk you through your options when it comes to an insurance policy.
When you hire a title and real estate expert like Bryan Nazor to give you a clean property title, a lot of work goes on behind the scenes. These experts search public records to make sure you can receive a clean property title. This includes visiting clerks of courts and register of deeds to become aware of any special levies, taxes, mortgages or other judgements on the property in question. This process is thorough and ensures a clean property title can be received, Bryan Nazor said.
Title insurance comes in handy in many situations, Bryan Nazor said. Some of examples include forged deeds, owner impersonation, wills not probated, missing heirs, falsified records, birth or adoption after date of will, fabricated powers of attorney and confusion from similarity of names. Title insurance policies also can cover fraud, undisclosed heirs, liens against the property, spousal claims and forgery.
Title and Real Estate Closing Expert Bryan Nazor Gives Advice On Keeping Pets Safe This Season
As you prepare for the holiday season, whether you celebrate Halloween, Thanksgiving, Christmas, Kwanzaa or something else, it is important to make sure your pets are safe and jolly as well during the festivities.
If you will be welcoming a new pet into your home for the holidays, will be moving into a new home or just want to keep everyone safe, here are some tips from title and real estate closing expert Bryan Nazor on keeping your home and pet in great shape.
According to Bryan Nazor, president of Main Street Title & Settlement Services, a home may contain hazards to pets that are not dangers to humans. Poisonous items, like plants, household cleaners, medications, and sharp objects or dangling wires pose risks to a curious pooch. When it comes to the holidays, be aware of chocolate lying around, candles, twinkle lights and ornaments. Most pets can’t help but explore their environment, so keep any food or decorations not meant for them well out of reach.
Make sure trash cans full of tempting turkey trimmings are out of reach or use child locks to secure trash cans. You can’t blame your furry friend for wanting to enjoy some holiday dishes, but prevent them from getting sick or making a mess by keeping trash inaccessible to them, Bryan Nazor advised.
Before holiday guests arrive and things get busy and distracting, take the time to check your home for holes and crevices that a pet could get stuck in. Attics and basements are common culprits, said Bryan Nazor, so be aware of any unsafe hidden holes in the house.
If you have a physical or invisible fence in your yard, make sure it is winter-proofed before the snow comes. If you live in an area where it seldom snows, make sure you are not using chemicals on your yard that are unsafe for pet consumption. Supervise your pet outdoors around any outdoor decorations.
During this busy season, it is also crucial to protect your home from unnecessary damage, including floors and furniture. Use furniture covers and chewing deterrents to make sure your house stays in great condition. Take your pet to the groomer for a nail trim and stuff their stocking with toys that they can play with to avoid destruction of the home, Bryan Nazor said. During the holidays, people are often distracted with guests, parties, decorating and cooking, so it is a good time to make sure your pets have toys to keep them happy and occupied.
Most of all, find ways to enjoy this season with your pets, Bryan Nazor recommended. Make sure they get some delicious treats, take them for a walk to enjoy the Christmas lights, play with them in the snow and help them feel warm and appreciated during this time of year.
Experts Project 2020 Will See Increase in Millennials Purchasing Homes- Bryan Nazor Explains Why
Title and real estate closing expert Bryan Nazor keeps a close eye on real estate projections for the future, and Forbes’ real estate forecast was one that caught his eye. Home-buying was rocky in 2018, but next year is anticipated to see an uptick in millennials purchasing homes, many for the first time. Bryan Nazor, who works in New Jersey, said he keeps a careful watch on these trends to see what home buyers can expect on the market.
According to the Forbes forecast, 2020 will be the peak year for millennial home buying. “Even though mortgage rates are continuing to rise, millennials are buying homes now more than ever,” Bryan Nazor said. It is predicted that in 2020, millennials will account for 45% of mortgages in the United States, while boomers make up only 17% and Gen Xers 37%.
Why is this the case? According to Bryan Nazor, it is the sweet spot when older millennials are ready to move up to a nicer home and younger millennials are ready to buy their first home. Most millennials turn 30 this year, which is traditionally the most popular home-buying year.
Bryan Nazor works at Main Street Title & Settlement Services in New Jersey, a company that prides itself on equipping millennials (and people of all ages) to get ready to buy a home. Bryan Nazor also provides title insurance services, appraisals, closing, escrow and recording services and other services relating to real estate transactions. Bryan Nazor said his experience so far this year at Main Street Title & Settlement Services aligns with the Forbes prediction and that he is seeing more millennials purchasing homes this year.
When it comes to millennials who are purchasing their first home, Bryan Nazor offered a few pieces of advice. “I wish I knew these things when I was buying my first house!” Bryan Nazor said. He said it is crucial to make a realistic budget before you start house hunting- and then stick to the budget. Crunching the numbers in advance will make sure emotions don’t take over and you don’t end up with a mortgage you can’t really afford.
After you have found a home you love (and within your budget, of course!), your real estate agent will make an offer on the home on your behalf, and if a counter offer is given, they will negotiate until they settle on a price. This is one of the reasons it is important to find a trusted real estate agent, Bryan Nazor said. Find one by asking friends and family for recommendations or doing your research online to find someone professional and experienced.
After the sale of the home, your real estate agent will work with a title insurance agent, like at Bryan Nazor’s company, to draft paperwork for the sale of the home. You will meet with the seller of the house for the closing and viola- you are the owner of a house!
Title and Real Estate Expert Bryan Nazor Weighs In On Typical Kinds of Property Title Defects Home Owners Should Be Aware Of
What is a property title defect, how does it happen and how can you avoid it? If you are a home owner or looking into purchasing a home, this may be a question that has crossed your mind. It is common for home owners to not be aware of the ins and outs of property titles and what they do, said Bryan Nazor, a title and real estate closing expert in New Jersey.
According to Bryan Nazor, a property title defect, which can also be referred to as a “cloud”, is a threat to the property owner’s claim to a property. If the owner’s right to a particular property is uncertain, Bryan Nazor said it is essential for the problem to be cleared up before a property can transfer ownership. In other words, if you want to sell your property and there is a property title defect, you cannot sell the property until the issue is resolved.
How does a property title defect occur in the first place? One way is when there are unknown heirs of a property, according to Bryan Nazor. “In some cases, an heir of a previous property owner will come forward long after the previous owner has died,” Bryan Nazor said. “They have a will that states the property now rightfully belongs to them.” Even if the property has since been purchased by someone else, the heir coming forward with a will calls into question the property title and who is the rightful owner.
Another situation Bryan Nazor said is not uncommon is for an unknown lien to be on a property. In this case, a previous owner could be behind on their payments of a property. If there is a lien on the property, it may not become known until the property has been purchased by someone else, but the debt remains with the property.
A property title defect is sometimes just a mistake, Bryan Nazor added. Clerical errors are often easier to sort out than the aforementioned defects, but they do happen more than people might think. Human error accounts for plenty of cases of property title defects, Bryan Nazor said.
Because having a property title defect is complex and takes time and money to straighten out, it is always smart to purchase property title insurance, Bryan Nazor said. If your property has an unknown heir, a problem with forgery or a clerical error or has an unknown lien, title insurance is there to protect you. Those who are purchasing property should protect themselves against unknown and potential issues in the past of a property and get good title insurance, said Bryan Nazor
Thinking of Getting a Timeshare? Here’s What You Should Know, According to Bryan Nazor
If you are considering purchasing a timeshare and wondering whether it is the right choice for you, look no further. Title and real estate closing expert Bryan Nazor is an expert on timeshares and said there are a few key things to know about them before diving in.
Bryan Nazor said a timeshare is a form of joint ownership of a property. In a timeshare, many owners share the title of a property and enjoy use or occupation of the property. Typically, use of the property is on a fixed time period or schedule, though this may vary, Bryan Nazor said.
Looking toward timeshare contracts, there are two types to consider, according to Bryan Nazor. These are shared deeded contracts and shared leased contracts. Shared deeded contracts divide the ownership of the property equally between everyone who is part of the contract. On the other hand, shared leased contracts divide up the amount of time the owners can spend on the property evenly. With a shared leased contract, the use of the property itself is leased, not the actual property, so a deed is not given to the owners, Bryan Nazor said.
Another key difference between these two contracts is that a shared leased contract has a set amount of time before the lease expires, while a shared deeded contract remains yours and you can choose to sell or give it to others.
Some timeshare owners choose to divide the property by giving it to the same person the same week of the year, every year. Others allow owners to choose a different period of time each year. Still others use a points system, Bryan Nazor said, and points can be transferred to stays in other resorts in the same timeshare system and are not limited to the one property.
“There are plenty of good options for timeshares and contracts, and it all depends on what works best for your lifestyle,” Bryan Nazor said. Lifestyle, family, preferences, and cost all have weight when determining what will be the best choice for you.
Bryan Nazor is the president and chief operating officer of Main Street Title and Settlement Services. He joined the firm in 2002 and brought with him years of expertise in corporate financing and investing. Bryan Nazormanages the day-to-day operation of the title and finance divisions of Main Street Title and Settlement Services and is involved in their residential and commercial closings.
“Main Street Title and Settlement Services is available to answer questions about timeshares and other title or settlement matters,” said Bryan Nazor. “We can help you with your timeshare decision and it’s always wise to seek professional advice before making a big investment decision.” Visit mainsttitle.com for more information.
Bryan Nazor On What You Need to Know Before You Sell Your Home For the First Time
So, you have decided to sell your home. This is an exciting and nerve-wracking step when you’re a first-time home seller, said title and real estate expert Bryan Nazor. However, with some knowledge of the basic steps (and making sure you adhere to them in the correct order), you are well on your way to a successful and smooth process. Bryan Nazor and other real estate professionals serve as a resource to help you keep track of the timeline and sell your home quickly and without a headache.
According to Bryan Nazor, after you decide to sell your home, the first step is to figure out the asking price on the home. But don’t worry, you do not have to do this on your own! A real estate agent will help you decide on the asking price, using knowledge of the market value of the home and what similar homes generally sell for. Do your research and find a real estate agent you trust, and get recommendations from friends who have sold their homes successfully. Just remember, if you are not comfortable with your real estate professional’s advice or suggestion, you can always get a second opinion from another well-respected professional, Bryan Nazor said.
Some people choose to sell their home on their own rather than investing in a real estate professional. One reason one might do that is that real estate professionals charge a commission on the sale of the house. But Bryan Nazor said in his experience, a real estate professional is worth the cost, especially if you have never sold a house before. “A for-sale-by-owner arrangement can be complicated and time-consuming,” Bryan Nazor said. If you are not sure what you’re doing or don’t have a lot of personal time to commit, cough up and choose a real estate professional.
When you have a real estate agent and have set the asking price on the house, your real estate agent will list the house. It is their job to manage marketing the house, with signs on the front lawn, MLS listing and more. The real estate professional will also give you advice on preparing the home to show potential buyers, from cleaning to redecorating. This is another area where professionals can be a great asset, Bryan Nazor said. They are aware of how to market a house and what buyers are looking for when they tour a house.
The next step: one of those prospective buyers will make an offer on the house. You can choose to either accept the proposed purchase price or to make a counteroffer. When the buyer and seller reach an agreement on the price, your real estate professional will work with a title insurance agent like Bryan Nazor to draft the paperwork.
Now the hard part of selling your home is over. Your real estate professional will schedule a date for you to meet with the buyer and close on the house. At this point, the sale is complete and ownership of the house is officially transferred to the buyer. Keep this basic timeline in mind, Bryan Nazor said, and you are well on your way to a smooth sale of your home.
When you decide to purchase a home, one of the considerations (apart from the house itself, of course) is the neighborhood you will be living in. Bryan Nazor, a title, and real estate closing expert said it is important to evaluate and research the neighborhood and surrounding area around a potential home to make sure it is a place you will love to call home.
Bryan Nazor is with Main Street Title & Settlement, which provides a complete range of title insurance and settlement services to a broad range of clientele. Main Street Title is one of the leading full-service title and settlement agencies in the New York tri-state area.
There are online tools and resources to assist in your research of your potential home’s neighborhood. Bryan Nazor suggests ImageAtlas and PropertyInfo from REIData. These free online tools offer detailed information and images on neighborhoods, along with demographic information of a specific school district, country and neighborhood.
One of the main considerations people typically have is the school district they will be moving to, Bryan Nazor said. If you have children or plan to have them in the future, look into your educational options. What private schools are in the area? What are the area’s public schools like, and how do they rank? If your children have specific educational needs or interests, it may be important to you to be in a specific school district or near a private school that is best for your family.
Bryan Nazor recommends researching the community’s demographics using PropertyInfo and other free online websites. Learn whether the neighborhood is upper, middle or lower class, if there are many children, the ages of the residents and more. Thankfully, all this information is readily available online now, Bryan Nazor said. “Many people want to live in a neighborhood with people who are similar to themselves,” Bryan Nazor said. “Either way, take time to get to know the people who would be living around you in a potential home.”
It is also relatively easy to find out the crime rate in a neighborhood and if there are specific offenders living nearby. These details can shape your decision, but it is just a good practice to be informed and aware of who your neighbors are, Bryan Nazor said.
Online tools and records can give information on the value of a property and on its history, said Bryan Nazor. This can give you a clearer picture of the property, beyond just what it looks like, and it can be helpful to know its background.
With these useful tips and a world of information available at your fingertips, it should be easy to find out what kind of neighborhood and neighbors a potential home has to offer.
Bryan Nazor Shares Common Types of Property Title Defects to Look Out For.
If you hear about a property title defect, you may find yourself wondering exactly what this is and how it can happen. Bryan Nazor, a title and real estate closing expert, said a property title defect (sometimes known as a “cloud”) is a threat to the property owner’s right or claim to a property. If a property owner’s claim to a property is in question, the issue must be resolved before it is possible to sell the property.
One common type of property title defect is when there are unknown heirs to a property, Bryan Nazor explained. Sometimes, long after the passing of a previous property owner, a previous unknown heir will come forward with a will that bequeaths the property to them. This is one of those situations Bryan Nazor said he has seen in his career that can suddenly call into question the property title a person may have.
Another type of property title defect comes from forgeries. Forged documents that are filed in the public record giving property rights to a dishonest party could jeopardize a new owner’s rights. In a similar vein, illegal deeds are deeds that are signed by parties that render it invalid. If a deed is signed by a minor or a person of unsound mind, the chain of title and owner’s new rights to a property can be called into question, according to Bryan Nazor.
Unknown liens can also threaten a property title’s validity, Bryan Nazor said. If a previous owner of a property is behind on their payments, it can result in a lien on the property. That debt stays with the property, regardless of who becomes the new owner of the property.
Sometimes, a simple error in the public records can lead to a property title defect, according to Bryan Nazor. Filing or clerical errors can have a big impact on the validity of a deed or a survey of property.
All these problems with property titles can be complicated and take time and money to sort out, Bryan Nazor said. This is why it is important to purchase property title insurance. It protects against events that occurred in the past of a property and the people who owned it. Property title insurance is purchased at a one-time premium, paid at the close of the escrow. To protect against the unknown and potential issues that can arise with property insurance, it is wise to purchase this property title insurance, Bryan Nazor counseled.
Bryan Nazor Discusses 4 Must-Haves In Your Ideal Title Insurance Company
When it is time to choose a title insurance and settlement company, there are several considerations, said Bryan Nazor, a title and real estate closing expert at Main Street Title in New Jersey. Whether you are an attorney, home owner, buyer, lender, investor, builder or developer, there are services you want to find in an ideal title insurance company. Do not settle for a place that makes you feel uncomfortable, does not adequately answer your questions, or does not offer the following services, Bryan Nazor advised.
- Every title insurance service you could need
Basic title insurance is great, but look for a company that goes beyond that, suggested Bryan Nazor. For example, Main Street Title and Settlement Services provides title insurance protection and settlement services to facilitate purchases, construction, loans or refinancing.
“We are able to serve a wide variety of clients because of the amount of services we offer,” Bryan Nazor said. “We also have experience dealing with many types of issues in the title insurance world.”
- Escrow and closing services
Escrow and closing can be complicated, so make sure your title insurance specialists have plenty of experience working with them so things are as smooth on your end as possible.
“At Main Street Title and Settlement Services, we pride ourselves in being able to answers any questions our clients have and explaining things in simple terms,” Bryan Nazor said. “We are fast and efficient with even the most complicated closing issues.”
- Paralegal services for attorneys
If you are an attorney, look for a title and investment services company that includes paralegal services. Bryan Nazor has experience in corporate law, corporate financing and investing, giving him experience with and ability to counsel in matters of real estate law. If paralegal services will be useful to you, make sure to find a company that includes this as part of the package.
“An appraisal must be done by a professional, objective third party,” Bryan Nazor said. “They will determine the value of the home fairly, based on market value.” Since a company like Main Street Title and Settlement Services handles appraisals as well as these other services, it can be one less thing to worry about. It is not always easy to find a “one size fits all” title insurance company, but it is important to find one that suits your specific needs, understands your situation, and makes you feel comfortable and at home.
When it comes to title insurance, there are plenty of misconceptions out there, according to Bryan Nazor, a title and real estate closing expert at Main Street Title in New Jersey. Title insurance proves that the title showing ownership of a property is legitimate and protects the lender against claims against the title. A title insurance policy is paid in a one-time premium at the close of the escrow, Bryan Nazor said.
Bryan Nazor shared four little-known facts about title insurance that just might surprise you and help you be a little more knowledgeable about this form of insurance.
1. Title insurance is not just in the United States
Title insurance exists in plenty of other countries than just the United States, Bryan Nazor said. Other countries that offer title insurance include Canada, Australia, New Zealand, the United Kingdom and China, to name a few.
2. A clean property title involves searching public records
One of the most important things a title and real estate closing expert like Bryan Nazor does is search public records to obtain a clean property title. These public records include visits to clerks of courts, register of deeds and other offices to look for judgments, special levies and taxes, mortgages and other records. This can be a nitty-gritty part of the process of obtaining title insurance, according to Bryan Nazor, but it is crucial that it is done thoroughly.
3. Title insurance protects property owners from a wide number of issues
Many people do not even realize just how many issues they are protected from when they have title insurance, Bryan Nazor said. Some of those things include forged deeds, owner impersonation, wills not probated, missing heirs, falsified records, birth or adoption after the date of will, fabricated powers of attorney and confusion from the similarity of names. Title insurance policies also can cover fraud, undisclosed heirs, liens against the property, spousal claims and forgery. In addition to all these, Bryan Nazor said additional coverage can be added to a title insurance policy.
4. Title insurance is important for both residential and commercial transactions
Main Street Title serves attorneys, homeowners looking to refinance, home buyers, first time buyers, lenders, investors, mortgage brokers, builders, developers and residential and commercial realtors. It is important to be aware that title insurance is a must-have for many transactions, Bryan Nazor said.
To learn more about real estate title insurance and Main Street Title, visit www.mainsttitle.com.