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A title search is mandatory for any real estate transaction that requires title insurance. This includes homes purchased with financing, as mortgage lenders require a title search in order to ...
In real estate, in cases where the real property in question is not listed on a multiple listing service, there may not be an easy way to notify the owner of the property and other interested parties of intent to purchase. Often it is necessary to officially begin the process of a purchase, and allow all peripheral interested parties to begin ...
A full coverage search is usually done when creating a title report for sale/resale transactions and for transaction that involves construction loans. It generally includes searches related to property lien, easements, covenants, conditions and restrictions(CC&Rs), agreements, resolutions and ordinances that will affect the real property in question.
Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they have not searched the records in the recorder's office. This is the doctrine of "constructive notice" and it is nearly universal in the various states of the U.S. So, for example, after a deed or ...
With a clear title, there’s no doubt who the owner of the property is, or who can claim legal ownership of the property. To get a mortgage, lenders require a thorough title search of local ...
Wikipedia avoids unnecessary capitalization.In English, capitalization is primarily needed for proper names, acronyms, and for the first letter of a sentence. [a] Wikipedia relies on sources to determine what is conventionally capitalized; only words and phrases that are consistently capitalized in a substantial majority of independent, reliable sources are capitalized in Wikipedia.
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Brokerage commissions are usually computed as a percentage of the sale price, and are established in a listing agreement between the seller and the listing broker. The listing broker may offer buyer agents a portion of their commission as an incentive to find buyers for the property. Payment is required if real estate brokerage service was used.