Levi Salmans | Orlando Horse Properties

1. It protects your ownership right to your home both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a persons name or an inaccurate description of the property.

2. It’s a one-time cost usually based on the price of the property.

3. It’s usually paid for by the sellers.

4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.

5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.

• Consider comparables.  What have other homes in your area sold for recently?  How do they compare to yours in terms of size, upkeep, and amenities?

• Consider competition.  How many other houses are for sale in your area?  Are you competing against new homes?

• Consider your contingencies.  Do you have special concerns that would affect the price youíll receive?  For example, do you want to be able to move in four months?

• Get an appraisal.  For a few hundred dollars, a qualified appraiser can give you an estimate of your homes value.  Be sure to ask for a market-value appraisal.  To locate appraisers in your area, contact The Appraisal Institute (www.AppraisalInstitute.org) or ask a Levi for some recommendations.

• Ask a lender.  Since most buyers will need a mortgage, its important that a homes sale price be in line with a lenders estimate of its value.

• Be accurate.  Studies show that homes priced higher than 3 percent over the correct price take longer to sell.

• Know what you’ll accept.  Its critical to know what price you’ll accept before beginning a negotiation with a buyer.