The Insider's Guide To Selling Your Home By Owner- Rocio Fausto I | Page 82

needs to handle the whole situation. Customs of who pays for title
insurance is different across the nation.
You may recall hiring someone to ‘search your deed’ when
you originally bought the home you are now selling. Title
insurance is bought at that time, although you may not have even
been aware that that was what you were doing.
It basically guarantees that the deed to your property was
searched from the present back to its U.S. Patent. The insurance is
for protection against human error, because let’s face it: mistakes
do happen.
The process will also have to be done again with your
current sell, but it’s very handy to have your prior paperwork
nearby.
Surveys Are Sometimes Required. Some states require by
law that if a home buyer is using a mortgage loan to purchase a
property that mortgage surveys be done. This guarantees that the
property is as is should be without any encroachments.
An example of an encroachment might be that a neighbor
has gone over the boundary line of your property with their
garage, or that you might have put a fence in that is actually on
their land. All improvements will also be noted on this survey.
Many states also require that the boundary of the land be
surveyed. Again, every place is different. Make sure you check
with a professional to find out exactly what your specific laws
require.
Some States Demand Disclosure Statements. It isn’t
uncommon for states to mandate that a seller provide potential
buyers with certain disclosures about the property being sold.
Some examples of disclosures are natural hazards, pest
control and lead paint. These few are certainly not the limit of
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