Learn all about real estate title insurance and why it is needed, from expert Bryan Nazor.
Buying a new home has a lot of ins and outs. You are not alone if you are unfamiliar with what real estate title insurance is or why you need it. Let’s start with the basics!
What is real estate title insurance?
According to Investopedia, “title insurance is a form of indemnity insurance that protects the holder from financial loss sustained from defects in a title to a property.” In simpler terms, title insurance is a form of insurance paid for by the home buyer that protects the home buyer from issues with the title that could pop up at a later date. It also protects the lender from costs that could arise from title defects. Title insurance protects against past occurrences, unlike regular insurance that usually protects against future occurrences, Bryan Nazor explains.
Why do you need title insurance?
Just as you can guess from the definition of real estate title insurance, a home buyer needs title insurance to protect themselves from possible issues with their title. Title insurance protects both homeowners and lenders against loss or damage occurring from liens, encumbrances or defects in the title or ownership of the property.
- Previously unreported liens and easements on the property
- Forged transfers of ownership rights in the property
- Unintentional errors in recording or filing of documents
- Any other title defects that existed prior to the start of your policy
How do you choose your title insurance?
You can choose your own title insurance company by shopping around for the best quotes. According to Bryan Nazor, some title insurance companies will provide discounts if you purchase your homeowner’s insurance policy at the same time you purchase title insurance. Typically, title insurance is chosen by professionals, such as realtors, attorneys and lenders.
How much does title insurance cost?
In most cases, the required lender’s title insurance costs fall between $500 to $1,500, depending on where you are located and how much money you are borrowing in your home loan. Every state is different and various factors can affect the cost.
Homeowner’s title insurance is a little more expensive than the lender policies. You may pay anywhere from $700 to $2,000 on coverage. Several factors such as larger loan amounts, lower down payments and low credit scores can cause the cost of your title insurance to be higher. Bryan Nazor recommends title insurance to all real estate buyers because it will never expire and it will protect you should any issues arise after you purchase the home.
Because having a property title defect takes time and money to resolve, it is always smart to purchase title insurance, Bryan Nazor says. Title insurance is there to protect you. Home buyers should protect themselves against unknown potential issues in the past of a property and get title insurance, says Bryan Nazor.
Main Street Title & Settlement 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 and is directly licensed in New Jersey, New York, Connecticut, Pennsylvania, Washington D.C., Virginia, Ohio and Florida. Visit https://www.mainsttitle.com/ to learn more!
Bryan Nazor shares tips and trips for sprucing up your backyard for potential buyers.
When it comes to selling a house, the interior is usually the main center of attraction for obvious reasons. However, one should not underestimate the selling power of a beautifully arranged or highly functional backyard. Bryan Nazor, real estate and title closing expert, sat down with us to share his expertise on what makes a backyard ready to sell and what you can do in order to get your backyard in the best shape its ever been in.
To begin with, Bryan Nazor starts with the obvious: clean up! Basic maintenance is a must before you begin showing the house. Bryan Nazor mentions you would be surprised how many people overlook their backyards while placing all their focus and effort into their interiors. If you have children or dogs, bring inside or hide any toys lying around. Make sure the grass is in acceptable condition and cut to a decent length, eliminate weeds, and replant any potential dead spots if needed. Any errant tree branches and/or overgrown bushes should be trimmed as well. Don’t overlook the patio and outside doors either: make sure this area is well swept, cleaned, and gone over for cobwebs or damage. Lastly, don’t ignore your fence. Inspect it for any sources of damage and repair or replace it if possible. If you have a wooden fence, don’t hesitate to give it a fresh coat of paint for a fresh, inviting look.
If you have any backyard decorations—statues, garden gnomes, or the like—Bryan Nazor says you may want to consider packing them up ahead of time. Your personal taste in decoration might not be everyone’s cup of tea, and it helps to allow potential buyers to envision what they can bring to the table. Speaking of gardens: if you’ve got one, consider placing signs detailing which plants are being grown so that any potential new owners can easily identify them and begin caring for them properly themselves. If you’ve got a garden but aren’t currently utilizing it to its full potential, Bryan Nazor suggests filling that space with some colorful, seasonal flowers in order to provide a little decorative pop of color.
Bryan Nazor also advises that if you have the room, you should set up your patio furniture in a way that makes sense, is inviting, yet leaves room to navigate without it feeling overly cluttered. There’s no shame in removing furniture from your patio in order to make it feel more open. On the same accord, if you currently only have a chair or no furniture at all, it might be worth the investment to set up an appealing patio area in order to properly showcase the functionality of the area. If your patio furniture is old or weathered, you may want to consider replacing it anyway, if you feel that a simple cleaning wouldn’t be enough to restore it to its former glory.
With these tips and reminders, Bryan Nazor hopes you’re able to take into account everything that’s needed in order to set your backyard in top form. Once you do, your backyard—and thus, another extremely important area of your home—will be in prime condition to make that sale happen.
Bryan Nazor explains the effects different colors can have when renovating your home.
It’s not uncommon to refresh your home with a fresh coat of paint when you’re getting ready to put it on the market for sale. Maybe you’re just tired of the color and want a new look for yourself. Bryan Nazor wants you to know that depending on what specific colors you choose, your subconscious may be affected in turn. This may sound a little “out there” to some, but it’s been proven through numerous scientific studies: colors have a definite effect on the human psyche. Bryan Nazor is here to give you advice on which colors can work best for which rooms, and for what reasons.
Blue is a popular color, but you should be careful about how you use it if you plan on painting the walls with it. When it comes to painting the walls with blue, Bryan Nazor warns, you’ll want to try to strike a delicate balance: too light, and the room can seem “chilly” or “frigid”, too dark, and you might be evoking feelings of depression. However, the right shade of blue can be relaxing and calming, perfect for a living area or social room.
Speaking of calming effects, Bryan Nazor points to green as the ultimate “relaxing” color. Green is the least stressful color on the human eye, probably owing to the fact that green is the color of nature. For this reason, a nice, foresty green is an absolutely perfect color choice for the bedroom. Green is also stated to be an anxiety-reducing color, which makes it a great choice for a study or office. However, as with every color, the shade and intensity you choose is extremely important and could make all the difference. Try to stay away from electric, neon greens unless you’re trying to feel extremely energized and on potentially on edge.
If your goal is to feel energized, Bryan Nazor suggests going for a good orange. Orange evokes energy, strength, and all-around positive feelings. While this may be a little much for a living room or bedroom, orange is the absolute perfect color for a workout room or gym area in your home.
A general tip Bryan Nazor gives concerning your room’s new color: something to consider is how the color you choose will affect your perception of how high your ceiling is. Lighter shades of color will make your ceiling seem bigger, and therefore make the room feel more “open”. On the other hand, darker shades can make the ceiling seem lower. This isn’t necessarily a bad thing, Bryan Nazor explains: a “lower” ceiling can help create a cozy, comfortable feeling.
Of course, there’s always the classic standby of neutral colors. A fresh white-colored wall will evoke a sense of cleanliness and purity, and help to put the mind at ease. Of course, with a white wall, dirt and dust will show up much easier, so you’ll have to be mindful about maintaining it well. White is also the ultimate choice when it comes to making your rooms feel more spacious.
Keeping these tips in mind, you’ll be sure to bring out the best in your home. Just one last thing to keep in mind: at the end of the day, if you’re doing it for yourself, choose whichever color will make you happiest! You’re going to be seeing it every day, so make a decision you won’t regret.
Title closing expert Bryan Nazor shares some invaluable tips and tricks for ensuring a smooth close.
It’s no secret that real estate closings can become a nightmare-and-a-half if you haven’t properly prepared yourself and your home. Even if you’ve taken every precaution you could possibly think of, it’s entirely possible that unforeseen complications may arise at the most inopportune times. Bryan Nazor, a real estate title closing expert, was kind enough to share some of his most valuable real estate closing tips so you can do your best to not end up in a last-minute quagmire.
- Get a general building inspection
Getting a general building inspection is a good idea at any time to ensure the safety of those living inside. In this case, Bryan Nazor tells us, getting a general building inspection is a handy way to avoid dreaded repair disputes before closing. By receiving an inspection, and having a real estate agent or title company provide a preliminary title report, you can review any potential issues before they become a more serious problem preventing you from closing.
- Make sure all your documents are in order
This may seem like a no-brainer, but Bryan Nazor shares this advice with the understanding that especially during a hectic time like selling a house, it’s easy for certain things to be overlooked. By organizing all your important documents like bank statements, tax returns, etc. beforehand, you can make sure there are zero delays when it comes to finally selling your house.
- Pay attention to your utilities
Before you move, you’ll want to make sure that your utilities are transferred properly. Find out if there will be any gaps between the previous owner’s shut off date and your activation of services so that you can avoid any potential extra fees. Piggybacking off the last tip, Bryan Nazor reiterates: have all your information together in an easily accessible place. You should have the account numbers and information for the essentials—electric, gas, water, and so on.
- Take the time to go over your closing paperwork
Another seemingly obvious tip, however, Bryan Nazor wants us to know that all too often, a real estate closing will be delayed due to a fundamental misunderstanding of either the specific scenario or the process in general by either one of or both parties. After ensuring you understand the deal, take your time to go over once more the closing costs compared to the good faith estimate you were given at the start of the process. You should be personally checking to make sure the interest rate is correct, and that all agreements are reflected in the paperwork. It may seem like overwhelming work, but it’s more than worth it in the long run.
These are all pretty straightforward, yet extremely important, pieces of advice. Bryan Nazor wants you to be able to experience your closing as smoothly as possible, so don’t overlook any of the points on this list!
When it comes to selling your house, open houses can be a huge boon. However, you may not realize there are also negatives associated with open houses. Read on to learn about some of the positives and negatives, thanks to real estate expert Bryan Nazor.
Deciding whether or not to have an open house for your property can be a challenge in and of itself. The first thing that comes to mind when you consider it will most likely be the effort involved: keeping the house clean and ready for visitors, keeping an open schedule, etc.
If you’re asking yourself whether or not the benefits of holding an open house are worth that effort, you’re not alone. Real estate expert Bryan Nazor has this to say on the subject: “A question I hear time and time again is whether or not someone should be holding an open house for their property. To that I say: every situation is different, but there is an increasing number of reasons not to have one.”
The Positives of an Open House
Let’s start with the obvious: there is no substitution for being able to walk through a home and see what it has to offer first-hand. “It’s the difference between video chatting with someone and being able to meet face-to-face”,says Bryan Nazor.
There may be certain aspects of your house that really shine – whether it be certain high-end materials that were used in its construction, a gorgeous view from a second-story window, or any other number of countless things that are best experienced in person. In that case, an open house can be a huge benefit to helping a buyer lockdown that final purchasing decision.
Open houses can also help your property gain exposure. Of course, you’ll already be promoting your property’s listing as much as you possibly can be, but the additional promotion you’ll receive from an open house being promoted is nothing to sneeze at. “More exposure for your property is never a bad thing”, Bryan Nazor wisely states.
The Negatives of an Open House
As mentioned earlier, there is a certain level of stress that comes with holding an open house that you wouldn’t normally have to deal with by strictly sticking to private showings. Preparing your home for an indeterminable amount of people to be thoroughly looking through is no joke. Bryan Nazor also wants us to be aware of a common problem: people visiting with absolutely no intention of buying.
“Of course, you’re going to get those people,” Bryan Nazor tells us, “who never intend to buy the house. A lot of times it will be nosy neighbors there simply to fill up on hors d’oeuvres and satiate their curiosity, especially if the family has already moved out”. This shouldn’t be cause for shock. In fact, only about two to three percent of all home sales are made through open houses.
There’s a greater danger than simply wastes of time, unfortunately. Bryan Nazor warns us to be aware of your home’s security. Open houses present a prime opportunity for the criminal element to gain literal front door access to your home. This gives them the opportunity to get the layout of your house down pat so they can plan for a future crime.
If they’re really bold, they might even attempt to take your belongings during the open house itself. When this happens, it’s usually very hard to track down the perpetrators.
Beyond the hassles of having extra people in your home, there’s one very good reason not to have an open house. With the advent of virtual tours, open houses aren’t as necessary as they once seemed to be. “It used to be you were unable to get a good feel for a home without being physically present. Now, with virtual tours being an option on pretty much every listing website, anyone can take a detailed walkthrough,” Bryan Nazor tells us.
Keeping your home in top shape with advice from real estate expert Bryan Nazor
It seems as though we’re racing through fall and winter is right around the corner! With the changing of seasons comes a new set of challenges and chores to keep up with. We’ll be swapping dead leaves for snow, dealing with lower temperatures, and taking some preemptive action against all the potential dangers the threat of ice brings.
According to Bryan Nazor: “Maintaining a personal checklist of maintenance tasks is something every homeowner should be doing. What’s really important is making sure you update your list for the seasons, because every new season brings its own unique challenges when it comes to keeping your home safe to live in and looking great.”
If you live in an area with heavy snowfall, you’ll want to take the obvious precautions. Take inventory of all your essential winter equipment, and replace anything old enough that it might not function properly. Shovels, snowblowers, ice picks, the works.
You’ll also want to stock up on snow salt if you don’t have a healthy supply on hand already. Spreading snow salt around your house is an easy, effective way to prevent slips and falls, and will also make it easier for you to clear any snowfall out of the way. Bryan Nazor warns us not to forget if you have a sidewalk, it’s most likely your responsibility to keep it clear of snow as well, not just the pathway to your house.
Protect your outdoor furniture
This is a seemingly obvious, yet oft-neglected aspect of home care in the wintertime. Your patio furniture – tables, chairs, etc. – mostly likely aren’t built to withstand the elements as well as you think they might be. Bryan Nazor urges us to take the time to move our outdoor furniture inside before heavy weather. If you don’t have the room inside, Bryan Nazor suggests investing in a heavy tarp. Just make sure it completely covers everything and is heavy enough to not blow away during a particularly nasty storm!
Bryan Nazor has a lot of good tips for winter maintenance, but there’s something he wants us to take special heed of: “Clean your gutters!” He explains, “Every once in a while, you’ll see people leaving leaves and twigs and all the fun stuff that comes with fall in their gutters before the first snowfall. This is a horrible mistake to make. Without being able to drain properly, the built-up snow can lead to leaks, easier flooding, and potentially irreversible damage to your drains.”
It’s absolutely preferable to make sure those gutters are cleared out than it would be to have to replace an entire drainage system.
As long as you’re up there, take a good, hard look at your roof. Inspect it thoroughly for any damage, cracks, holes, or missing shingles. While this isn’t ideal in any weather, it can be a particularly large nuisance during a winter storm. Melting snow can cause leaks that you’ll be wishing you caught in the warmer months.
What it all comes down to, Bryan Nazor tells us, is common sense, vigilance, and the motivation to ensure your home is the best possible version of itself during any season. Stay warm, stay safe, and good luck with your winter preparation!
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