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Title insurance is issued to the benefit of the buyer (new owner under an Owner's Policy) or lender (Loan/Mortgage Policy).
As the Seller of the property, you need to be able to sell your property "free and clear" of liens, judgments and mortgages. The Seller, in many areas, is responsible for payment of the Owner's Policy, in other areas, it is a Buyer cost - and is always negotiable as to who pays for the property searches and/or final Owner's Policy.
Most prudent buyers would not purchase a property without knowing whether or not that property is free and clear of liens. It is also up to the Buyer, even in a cash transaction, as to whether or not they want to have an Owner's Policy issued that insures them against the history of the property as to possible defects or conditions of title.
So, if you are the Seller, the question should be directed to your Buyer. If they want a title search and title insurance, and it is written into your sales contract that you, as Seller pays for their Owner's policy then you are obligated to perform as per your sales contract.
In the matter of a Lender being involved in a purchase or refinance transaction, they will always require a Lender's/Mortgage policy to cover their mortgage interest in the property.
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Why would you sell your house cash only?
Reasons:You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.
What is title seasoning for mortgages?
Title seasoning is when the lender requires the seller to be on title for a certain amount of time prior to closing. Title seasoning is only an issue when the buyer is in need of financing. So if you are a buyer who needs financing and you are buying from a seller who's been on title for a week, you need to have your mortgage broker find a lender who does not have title seasoning requirements. If you are a seller, you either need to wait 90 days before you sell a property since that's what a lot of lenders require, find a cash buyer who doesn't need financing, or find a lender that does not have seasoning requirements.
If you cosigned for your brothers house and he has since obtained a second mortgage on the property will he need your signature to sell the house?
If you are on the title, he will have to get your signature. The fact that he got a home equity with out you signing ( assuming you did not sign ) tells me you are not on title. You would have had to sign for that also. You have to sign to every transaction if you are on title / deed to the house.
Can you do a short sale after a house was included in a bankruptcy?
No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.
How long do you have to own a home before you can sale it?
3-4 yearsAnother AnswerAs soon as you have clear title to the house, even with a mortgage -- as soon as the purchase is closed -- you can sell the home.
If your car is paid off can you turn in the title for cash?
You can sell it for cash if you have the title.
What do I do with my title when I sell my junk car for cash?
When you sell your junk car for cash, you should sign over the Title (or pink slip) to the business to which you sell the car. That releases you from liability.
Can you sell a cr without the title?
no you may not sell a car without a title if you want to sell a car you need a title
Do I need to have a title to sell used lawn mowing machines?
A typical home lawn mower is not a vehicle that travels on the open roads and therefore does not have a title.
Do you need a title to sell a car in Arkansas?
You can sell a car with no title but the consumer cannot register it without a title.
Why would you sell your house cash only?
Reasons:You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.Reasons: You do not want the buyer to be required by a lender to have a home inspection because there are serious problems with the property.You need money now.There is a title defect or you don't own the property and a cash buyer is not likely to have a title examination performed by a professional.
What do you need to sell a car?
all you need to sell your car is your car title
Does 1966 car need title to sell?
Yes you must have a title to sell the car. If you do not have a title contact your local DMV for advise on how to get a title.
Do you need title for ATV in Ohio?
in Ohio you do need a title to buy or sell its a fellony if you don't
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You have a 1947 Chevy truck do you need a title to sell it?
Yes, you typically need a title to sell a vehicle, including a 1947 Chevy truck. The title serves as legal proof of ownership and is required for transferring ownership to the new buyer. If you don't have the title, you may need to obtain a duplicate title from the relevant DMV office before selling the truck.
Do you need a title to sell a slide in camper?
no you do not
