Everything You Wanted To Know About Title Insurance

Sherry Hayward	Keller Williams
	Featured Articles Title Insurance, Who Owns What? What Owner's Title Insurance Covers Title Insurance Tips Frequently Asked Questions The Trivia Block

Title Insurance Who Owns What? Owning a home is one of the most important parts of the american dream, but having the deed to a piece of land does not necessarily mean the property is yours free and clear. Other people may have certain prior rights or claims that your deed will not erase. Such rights can go back all the way to the earliest owners of your new property. In order to protect your investment, you may consider purchasing title insurance. There are two types of title insurance policies that may be purchased at the time a property changes from one owner to another: an owner's policy and a lender's policy. Both the owner's policy and the lender's policy protect the named insured against an unknown defect in the title of property. A defect may mean you could incur additional costs in the future or even lose legal title to the property if the defect is not resolved before you take possession. If you have a title insurance policy, the insurance company will defend your title in court and pay any settlement amount you owe to clear the title, as long as it is a covered item. What Owner's Title Insurance Covers Most likely there are no hidden risks connected to your new property. However, such risks do exist, often as a result of errors made during past title transfers. If an error occurred but is not discovered until you buy the property, you may face a hidden risk and your ownership of the property could come into question. Owner's title insurance protects you from such errors, as well as: Protects you from financial loss due to covered claims against your title, up to the face amount of the policy. Pays your legal costs if the title insurance company is required to defend your title against covered claims. Pays successful claims against your title, up to the face amount of the policy. Continues protection after you no longer own the property. Here are a few of the most common hidden risks that can cause a loss of title or create an encumbrance on property: Forged deeds, releases, or wills Undisclosed or missing heirs Liens for unpaid estate, inheritance, income or gift tax False impersonation of the true owner Confusion caused by similiar names Signatures of minors or persons who are not mentally competent Signatures of persons represented as single but who are acutally married Errors in recording legal documents Clerical errors in public records Invalid documents executed under an expired power of attorney Fraud Invalid divorces Unpaid child support lien Unpaid taxes (local, state, federal) Unrecorded easements (right of way)

Title Insurance Tips

If you decide you want owner's title insurance, companies offer "simultaneous issue credit" as long as you buy the owner's insurance within 30 days of closing (and buying the loan policy). Simultaneous issue credit decreases the amount of your premium.

If the house you are buying was owned by the seller for only a few years, check with the seller's title company. You may be able to get a "re-issue rate," because the time between title searches was short. If no claims have been made against the title since the previous title search was done, the insurer may consider the property to be a lower insurance risk.

Look for an "owner's title policy" with as few exclusions from coverage as possible. Exclusions are listed in each policy, and if a policy has many exclusions - that is, situations under which the insurer will not pay for your title problems - you may end up with little coverage. the property.

Frequently Asked Questions

What does a title insurance agent do? 
Title insurance agents check for defects in your title by examining records on file at the Register of Deeds office. These records may include deeds, mortgages,wills, divorce decrees, court judgments, tax records, liens, and encumbrances. If any problems are found, those items will usually have to be cleared before the mortgage company will loan you the money or allow you to take possession of the property.

At the time of closing the agent should explain the title policy commitment, and any exclusions found on pages numbered Schedule A and B. Once all closing papers are signed and filed, the title commitment provides coverage until the title insurance company issues the actual policy. Title insurance agents also may hold money in escrow and perform closing services for an additional fee.

Who pays for the policy?
Usually the purchaser of the property is required to buy the lender's title insurance policy. This policy only protects the lender's interest. Either the seller or the purchaser can buy the owner's policy. The party who will pay for the owner's policy can be negotiated during the purchasing process. The owner's policy protects you, the new owner of the property, from any defects in the title once you take possession.

For more information & to be connected with one my title professional partners don't hesitate to call me

Sherry Hayward

Keller Williams Realty Charlottesville

(703) 655-2223

shayward@kw.com

www.cvillehomesforsale.com

Price Dropped $20,000 Waterfront Home In Ruckersville Virginia

Price Reduced $20,000

Extraordinary Lake Front Home With 200' Of  Shore

Spectacular lakefront home with 200' of shore! Soaring ceilings with skylights and exposed beams compliment this open floor design. Casement windows throughout bring in all of the natural light and the beauty of the outdoors. Cedar lines the walls of the main gathering area and flows right into the kitchen and dining area. The upper and lower deck offer majestic views of the Blue Ridge Mountains and the lake.The owners suite comes complete with a gas fireplace, an enormous walk-in closet and attached bathroom with separate shower and garden soaking tub right under the skylight to enjoy the night sky. The walk-out lower level features an enormous recreation room with a wood stove and a rough-in for a wet bar, another full bathroom, entry to the lower screened deck with a hot tub and a theater room equipped with stadium seating and a digital projector which conveys with the house. Many other amenities included such as intercom and radio system throughout, DSL Wifi, central vacuum, laundry chute, etc. The 2 boats docked at the dock will also convey with the house with an acceptable offer.

Greene County Waterfront Homes For Sale

Ruckersville Homes for Sale Stanardsville Homes for Sale Get Your House Value On-line Charlottesville Homes for Sale Albemarle Homes for Sale Mortgage & Refinance Sherry Hayward Keller Williams Charlottesville 703-655-2223 SHAYWARDKW@GMAIL.COM

Interested In Selling?

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Call your Greene County Specialist

Sherry Hayward

Keller Williams Realty

(703) 655-2223

(434) 515-1592

shayward@kw.com

www.cvillehomesforsale.com

Lake Front Home In Ruckersville Virginia, 540 Jonquil Rd

200' Of Waterfront On 2.3 Acres 

Welcome to 540 Jonquil Road Ruckersville Virginia

540 Jonquil Rd in Ruckersville Virginia is located in the Twin Lakes Estates subdivision of Greene County. Conveniently located just minutes to NGIC, the UVA Research Park, GE and 20 minutes north of Charlottesville making commuting a breeze.

This spectacular lake front home has over 200 feet of lake shore and 500 feet of stream bordering the 2.3 acres. Soaring ceilings w/skylights & exposed beams compliment this open floor design with casement windows throughout bringing in all of the natural light & beauty of the outdoors. Cedar lines the walls of the main gathering area & flows right into the dining room, kitchen & upper deck offering majestic views of the Blue Ridge Mountains & sunsets over the lake.                              

The sun filled kitchen boasts custom cabinetry, a nook in the bay window, a breakfast bar, ceramic tile back splash, wall oven and cooktop. This kitchen provides the perfect amount of space for a cooks dream with a window providing a breathtaking view of the lake.

The owner’s suite has a sitting area, a gas fireplace & attached luxury bathroom with a garden soaking tub. There are 2 more bedrooms and a full bathroom in the lower level making this a 5 bedroom home!

The lower level features a theater room complete with a digital projector, surround sound and stadium seating. The lower level recreation room is perfect for a pool table, play area or a game room and has been roughed-in for a wet bar. The unfinished area provides plenty of storage and has a built-in workshop.

The screened lower porch provides lake views right from the hot tub and access to the fenced yard.  Amazing perennials have been planted in the landscaping around the property for enjoyment every yearwithout the need to re-plant. The paddle boat and canoe located at the private dock will convey with the home. 

Enjoy fishing, swimming & boating right from your own backyard!

Search All Waterfront Homes For Sale!

Interested In Selling Your Twin Lakes Estates Home?    

Get Your House Value Here!

Check out the latest school scores, community information, market statistics and pricing trends for Ruckersville Virginia.

Call, text or email me for more information or to schedule to a showing!

Sherry Hayward

Keller Williams Realty

Cell (703) 655-2223 

Listing Line (434) 515-1592

shayward@kw.com

www.cvillehomesforsale.com

Get Your House Value Now!!

Spring is fast approaching!!

(According to the groundhog)

Get Your House Value Now Here On-Line!

List now & get ahead of the competition!

Contact me to learn what I do differently to get homes sold in less time for more money!

Sherry Hayward

(434) 515-1592

(703) 655-2223

shayward@kw.com

www.cvillehomesforsale.com

If you're looking to improve the appearance of your home for resale, or you just want an updated look for your own enjoyment, there are a few things you must consider before beginning any costly project. 

Sure, you can spend a lot on something purely for the personal pleasure of having it - like that outdoor Jacuzzi under the attached gazebo - or you can go the practical route and make an improvement that will increase your home's market value, such as installing energy-efficient air-conditioning or repairing those shabby shingles. Be forewarned, however, and don't expect to recoup your costs on both counts. Many real-estate brokers agree that just because you put $25,000 worth of improvements into your home doesn't mean that your house is worth $25,000 more!

Exactly how much of your investment you'll recoup depends on a number of factors, such as the "big picture" housing market, the value of the homes in your neighborhood, when you plan to sell and the exact nature of the improvement. Also, consider that the longer you live in your home after a project is completed, the less likely you are to recoup its value. Just try to convince a potential buyer that Harvest Gold is cutting edge.

Below are some examples of a few improvements that usually pay off - and some that rarely make a difference (no matter how much you paid for them) when it comes time to sell your home.

Painting 
If you're planning to sell your home in a year or two, a fresh coat of a neutral-toned paint could make the sale easier. A professional exterior paint job may also recoup close to 75% of its cost. Let's face it - we all like things fresh-looking.

Kitchen With just a few basic improvements, your kitchen can practically pay you back with interest! New paint, wallpaper and flooring are always appreciated; plus, you might even consider sanding, staining or painting worn-looking cabinets. Replacing old cabinet hardware is a low-cost improvement that makes a big difference in appearance. According to Remodeling magazine, the average spent on major kitchen-remodeling is around $39,000; refinishing an outdated one averaged $15,000. The full kitchen remodeling recouped 80% of its cost, the more moderate remodeling was valued at 87%.

Area Conversions Generally speaking, increasing the functional space of your home holds its value longer than remodeling just to make a house look better. It's also much less expensive than adding an addition to your home. Converting attic space into a bedroom, for example, usually costs around $30,000 and returns about 73% of its cost, according to Remodeling magazine. Turning your basement into extra living space costs, on average, $40,000, with a recoup average of about 69% of your costs.

Extra Bathroom You usually can't go wrong by adding an extra bathroom. At an average cost of $14,200, a new full bath can recoup 81% of its total cost!

Deck Adding a deck is a very cost-efficient way to add square footage to your house. Decks cost around $6,000 and generally recoup 75% of their value. Compared to other outdoor improvements (except painting), that's an excellent return. New Windows Your utility bill savings may make up for the iffy resale value, however, a good set of standard windows should get you around 68% back. If you start getting too fancy with custom shapes and sizes, though, don't expect to get as much in return. Swimming Pool In a word - don't! Unless you're putting it in for you and your family to enjoy, it's commonly agreed that a swimming pool has no resale value at all. Reason #1? Sure, they sound nice, but pools are very expensive to maintain. Running a close second is the fear of pool accidents - that's something nobody wants to experience. Picture-Perfect Gardens Another nicety, but who's going to spend all that time - and money? If the potential buyer is not horticulturally inclined, chances are your floral handiwork won't add to the offering price. The same can be said for expensive fences and stone walls - they look nice, but buyers don't pay up for them. Basic Is Better It may not sound very exciting, but it's the basic improvements you make to your home that may have the greatest return on its value: a beautiful new bathroom won't make up for a leaky roof. So if you're thinking of selling your house in the next year or so, be sure to address any problems the home may have before you, say, install those sunken gardens you've always dreamed of. Call, text or email me! Sherry Hayward Listing specialist Keller Williams Realty (434) 515-1592 (703) 655-2223 shayward@kw.com www.cvillehomesforsale.com

Just Listed In Greene Mountain Lake 574 Horseshoe Rd Stanardsville VA

Just Listed In Greene Mountain Lake 

574 Horseshoe Rd Stanardsville VA

Beautifully maintained ranch with covered front porch, open floor plan w/skylights, recessed lighting & Anderson Casement windows throughout. 4 Ft wide hall leading to bedrooms. Master bedroom w/walk-in closet & attached full bathroom. Deck off the dining room to the fenced yard. 800 SF garage! Plenty of room for 2 cars & a workshop! In walking distance to the lake! New roof and heat pump!

Interested in selling? Get your Greene County House Value Here!

Search all of the homes for sale in Greene Mountain Lake HERE

Search all of the homes for sale in Greene County HERE

Call, text or email me! 

Sherry Hayward

Keller Williams Realty

(703) 655-2223

shayward@kw.com

www.cvillehomesforsale.com

14140 Blue Ridge Turnpike Somerset Va

Spectacular Mini Estate In Somerset (Orange County)

Set on 3.25 acres surrounded by the estates of Somerset and located just 30 minutes from Greene County, NGIC,  the UVA Research Park & I64 offering an easy commute intoCharlottesville, Richmond or Fredericksburg and just 5 minutes into Gordonsville. 

Take a look inside at the perfectly structured floorplan with a full in-law suite on the lower level. 

Search all of the homes available in Somerset and Orange Va. 

Please don't hesitate to call or email me regarding this home at 14140 Blue Ridge Turnpike or any other home.

Interested in selling a home in Somerset and Orange County Va? 

CLICK HERE for your house value

Sherry Hayward

Keller Williams Realty

(703) 655-2223

shayward@kw.com

www.cvillehomesforsale.com

How to Minimize Your ID Theft Risk

How to Minimize Your ID Theft Risk

When it comes to identity theft, you can't entirely control whether you will become a victim. But here are certain steps you can take to minimize your risk.

• Order a copy of your credit report.
• Place passwords on your credit card, bank, and phone accounts. Avoid using easily available information like your mother's maiden name, your birth date, or a series of consecutive numbers. 
• Secure personal information in your home, especially if you have  roommates, employ outside help or are having work done in your home. 
• Ask about information security procedures in your workplace or at businesses, doctor's offices or other institutions that collect your personal information. 
• Don't give out personal information on the phone, through the mail or on the Internet unless you've initiated the contact or are sure you know who you're dealing with. 
• Confirm that you are dealing with a legitimate organization before you share any personal information. Check an organization's website by typing its URL in the address line, rather than cutting and pasting it. 
• Treat your mail and trash carefully.
• Promptly remove mail from your mailbox. If you're planning to be away from home and can't pick up your mail, call your post office to request a vacation hold. 
• Always shred your charge receipts, copies of credit applications, insurance forms, physician statements, checks and bank statements, expired charge cards, and credit offers you get in the mail. 
• Don't carry your Social Security number card; leave it in a secure place. Only give your Social Security number when absolutely necessary. 
• Carry only the credit, debit and identification cards that you'll actually need when you go out. 
• Be cautious when responding to promotions. Identity thieves may create phony promotional offers to get you to give them your personal information.
• Keep your purse or wallet in a safe place at work; do the
• same with copies of administrative forms that have your sensitive personal information. 
• When ordering new checks, pick them up from the bank instead of having them mailed to your home mailbox. 

When you're ready to purchase your next home search the MLS just like I do! 

Search by neighborhood, zip code, city,county, school district, price and much more! Get the latest market statistics, pricing trends, community info and the school scores. 

Give me a call, text or email!

Sherry Hayward 

(703) 655-2223

shayward@kw.com

www.cvillehomesforsale.com