When buying real estate in New York, it is important to consider whether or not you need title insurance. Title insurance is a form of insurance that protects the buyer and lender from any losses that may arise from defects in the title of the property. In New York, title insurance is not required by law, but it is highly recommended.
Reena Gulati Blog
For most people, their house is their biggest financial asset, so avoiding costly mistakes is critical. The same is true of buying other real estate since it usually involves a substantial amount of money. No matter if it is your first time or the sixth in buying real estate, problems can arise. However, you can minimize the risks by having the right team of professionals, including your real estate broker, inspector/engineer, attorney, and/or lender to help guide you through the process and ensure a smooth closing.
Congratulations! You are purchasing your first home. It's exciting. Maybe you have been waiting for this for a longtime. You have spent several weeks, months, years looking for a house. It's the single most important and maybe the most expensive asset in your portfolio. Now you need to invest your time in getting the right team in place. So you made an offer and it was accepted what next? Here are three steps you must take to protect your most valuable asset.