Happy Cinco De Mayo!
A quick congratulations to this months Q&A Winners Heidi W. and Sarah B on Cinco De Mayo! You can congratulate them here. The holiday seemed like the perfect day to answer a few more Pullman real estate market questions!
Submitted by Heidi Washington:
Q: As a buyer and/or seller why must I buy title insurance?
A: The Primary reason most real estate transactions require Title insurance is for the protection of the lender. If you pay cash for a property, as a buyer you typically won’t need to pay for title insurance because an all cash deal does not require any loan backing. Lenders will typically require title insurance to ensure there are no property encumbrances that will wreck the deal for either buyer or seller. Title insurance offers protection for all three parties (buyer, seller, and lender) in case there are any encumbrances or factors that weren’t disclosed in the property inspection. Title insurance will keep you safe from potential hazards and is a stable requirement.
Submitted by Sarah Ambacher Bull:
Q: How do you find a reputable inspector?
A: First and foremost, this is a great question for your Realtor. There isn’t much transition between which property inspectors each Realtor uses, and the same inspectors usually have great reviews. Using the List It & Sell It advantage I personally pay for home inspections, saving you the need to find one. If you are working with another Realtor, and they don’t provide this service for free, follow the following criteria:
- MAKE SURE THEY ARE LICENSED! The importance of using licensed inspectors can’t be stated enough! Home inspections are serious business and part of the loan process, don’t try and save a few bucks by using someone unlicensed.
- Ask for referrals. We (the Realtors) are more then happy to recommend vendors and services we often personally use. When looking for an inspector don’t be afraid to ask for advice! We will keep you out of trouble.
- The internet is your friend. Services like home adviser and Angie’s List help find professionals that haven’t paid for reviews. While you have to make sure the internet isn’t lying to you, it is a great resource for services research.
Thanks for the questions and congratulations to this weeks winners!