When it comes to buying your first home, understanding the real estate process can be very confusing and daunting. In fact, making such a massive purchase like a home is a huge decision. Making sure the process goes as smoothly as possible is all anyone would ever want. However, bumps are bound to happen. As a result, here is a very helpful guide for the first-time homebuyer looking to stave off the stress and overwhelming feelings associated with buying your first home.
The Terms You Need To Know
There are a lot of terms and words that are used when it comes to buying your first home. Title insurance jargon is incredibly confusing. In fact, feeling unsure about certain terms is normal. But to make things easier, why not have a leg up on the other first-time homebuyers by learning the crucial terms and phrases that’ll help you purchase that perfect home.
- Title:Title is a document that basically proves that an individual legally owns a piece of property.
- Escrow: Essentially, escrow is the period of time where a third party (like a title company) will hold the funds for the sale of the home until the actual transaction is ready to finally be completed.
- Title Search:
Title Insurance Basics
Title insurance is really not that different than other types. In fact, it protects homeowners. However, the one caveat is that title insurance protects you from events that happened in the past instead of future events that might happen down the road.
A Title Insurance Company You Can Trust: Colony Title Associates
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy and sell your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.