• Allison Adams

    ABR, GRI, CHMS, RSPS

    Lake Homes Realty

    205-914-2400
    allisonpadams@gmail.com

title Insurance

Basic level real estate service would be delivering you the documents involved in title research and the insurance binder and letting you wade through the book–sized document on your own. Believe it or not, that’s the approach many real estate agents take, and some don’t even give the documents a cursory once–over. It’s true that properties that have changed hands before, generally don’t have major title issues, but you can never know for sure without a thorough reading and understanding of the documents involved.

There are also restrictions and covenants revealed in your Title Binder or Commitment package that you may not have known about when you made your offer. Though you may have read disclosure documents or even a copy of subdivision or condominium covenants, it could be that there have been changes since it was printed. The only way you would find out is to read your title insurance binder’s copy of the documents, as it will include the latest documents as recorded at the courthouse. You may also find some recent filings related to obligations of the homeowner association that could result in future expensive assessments.

Any covenants and restrictions you notice in these documents that may restrict your use of the property in a way that causes you to reconsider your purchase would be important, and you’ll not want to miss them. Let’s say that you have a recreational vehicle and intend to park it on your property. Maybe you even plan on creating a shed for it. Any restrictions to the contrary would be important to you, and I'm committed to helping you to uncover every important item in your title insurance documents.

Along with all of those documents that look like a large encyclopedia, there are two sections at the front of the title insurance binder (or commitment) that summarize what’s included and can give you a quick overview to guide you to the most important items first, or those of most concern. These two sections are the “Requirements,” and the “Exceptions.” Requirements are things the title company says must be done or criteria met before their binder is good and title insurance will be issued. Generally, these are pretty cut-and-dried, such as the seller paying off any mortgages or liens against the property, paying current taxes due, etc.

The “Exceptions” are where you’ll find the things that could be a problem for you, such as those restrictions we discussed above. However, some people aren’t quite up-to-speed on what an exception is and what it means that an item is excepted. Most of the benefit of title insurance comes from protection from threats to your ownership or things that come up about property lines or encroachments. When something is already recorded at the courthouse, the title company will not cover you against it in the future, as it’s a “done deal,” and normally can’t be changed. Those restrictions and covenants are that way. If they say you can’t store that RV, then you can’t claim damages later when you try to do that. So, anything that’s already of record will be “excepted,” and you just need to be sure that there isn’t anything in that pile you can’t live with.

You’re the customer, and your money is making this deal work, so don’t be shy about asking any and all questions you have about the documents, requirements and exceptions in the title binder. There are deadlines for objections to what you find that could result in the deal dying, so don’t hesitate to get right to the examination of this document and the attachments.

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Success Stories
  • Highly likely to recommend 02/03/2015 - herringlorie Bought a home in 2014 in Sommerville, Tuscaloosa, AL 35401. Local knowledge: 5Process expertise:5 Responsiveness:5 Negotiation skills:5 After a bad experience on a "For Sale by Owner" working with Allison made the buying process so much easier. She understood the importance of our budget and only showed listings within our budget.

    Lorie
  • Highly likely to recommend 04/20/2015 - dcook5983 Bought a Single Family home in 2014 for approximately $150K in Duncanville, AL. Local knowledge: 5Process expertise: 5Responsiveness:5 Negotiation skills:5 alison was very friendly, and would go out of her way to get us a showing or show us a house to fit our needs. great experience! she also answered our phone calls or text very promptly there was no waiting around.

    David
  • Bought a Single Family home in 2015 for approximately $175K in Brookwood, AL. Local knowledge:5 Process expertise:5 Responsiveness:5 Negotiation skills: 5 Allison was the ONLY agent that contacted me back out of 6. She was super flexible and accommodated every want or need. She sent me info on every house I inquired without getting pre-approved, while all other agents would not even speak with us until doing so. We fell in love with the very first house we viewed. Everything fell into place and we got everything we wanted. To make things even easier, her husband,Chad Adams just happens to be the finance bank guy so you get two for the price of one! She sold us the house and he financed it. He was extremely down to earth and made things very easy for us. I absolutely recommend Allison and Chad if you are looking to buy a house!! Thanks so much! Hope we remain in touch you guys are great people!!

    New Mom
  • Highly likely to recommend 03/01/2016 - josephbrentbonner Bought a Single Family home in 2015 for approximately $200K in Northport, AL. Local knowledge: 5Process expertise: 5Responsiveness: 5Negotiation skills: 5After a mutual friend gave me Allison's information, we set off on a the house buying journey. She was by far accommodating in my search for the perfect house for me. She did a magnificent job learning what I was really looking for in a house and I think we looked at almost every house in Tuscaloosa until I found the perfect one for me! Did I mention she was patient!!!

    B. Bonner
  • Highly likely to recommend 02/26/2016 - ambuh11 Bought a Single Family home in 2015 for approximately $200K in Northport, AL. Local knowledge: Process expertise: Responsiveness: Negotiation skills: Allison is awesome!!! She helped us with everything we needed to get us the perfect home!!! I highly recommend her!!! She can help you with all your house needs!

    Amber
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