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This is a beginner’s guide to home buying that highlights the importance of title and escrow companies in the process. The article provides steps to follow to successfully navigate the home-buying process.
Homeowners often consider refinancing their mortgage to take advantage of better financial options. The five common reasons to refinance include securing a lower interest rate, using an improved credit score, shortening the loan’s term, switching from an adjustable to a fixed rate, and cashing out home equity to fund a large purchase or payment. Refinancing can save money in the long run, decrease monthly payments, and allow homeowners to build equity in their homes sooner.
Empire Title was voted #3 Best Place to Work in Idaho in 2022. Empire Title participates in the Best Places to Work in Idaho every year, where we learn about our team and celebrate our successes. At Empire Title we believe that our employees are family, and we prioritize finding people who love what they do and love who they do it with. We focus on learning, growing, overcoming challenges, and showing up for our team TOGETHER.
It’s important to start preparing for retirement early to avoid financial insecurity later on. Some tips include calculating your target savings, contributing to employer retirement plans, taking advantage of employee benefits, paying off debts, and reducing daily spending. It’s recommended to save between 10 to 15 percent of your income for retirement and to use online savings calculators to determine specific savings goals.
Probate can cause expense and delays in real estate transactions, but a Lack of Probate Affidavit can be used to transfer property from a deceased owner to their heirs. However, using this affidavit can create a title defect, making the title unmarketable. Insurable versus marketable title is a concept used in real estate law, where a title company may still insure over defects, making the title insurable even if not marketable. The Lack of Probate Affidavit can be used in certain situations but should be validated by title insurance companies and buyers to ensure marketable title can be conveyed.