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Philadelphia Title Insurance Rate Change

Philadelphia Title Insurance is set to change due to a Rate Simplification submitted by the Title Insurance Rating Bureau of Pennsylvania (TIRBOP) and approved by the PA Department of Insurance.  The new rates are effective July 1, 2012. There are no longer any rules regarding the length of time since the last insured transaction there is just one simple rate for refinances.  The same is true for Philadelphia title insurance pursuant to a Philadelphia home purchase, one single rate for a purchase. The simplified rate tables … [Read more...]

Buying Philadelphia Real Estate

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Guest Blogger- Frank L. Defazio, Realtor & Attorney After years of representing buyers in Philadelphia I decided it was time to write a post that would give advice to anyone dipping their toe in the Philadelphia Real Estate market.  The current economy has pros (low interest rates) and cons (high unemployment, shaky economy) like any other but I firmly believe that one thing holds true in any economy – the advantages of buying far outweigh renting for most people in most cities.  Here is some advice that I can offer after … [Read more...]

Philadelphia Streets Department Lien

Philadelphia Streets Department

As constantly mentioned issuing Philadelphia Title Insurance can be tricky, there are so many pitfalls and areas of risk.  It is always vital for a buyer to utilize the services of a Philadelphia Title Insurance company that knows the landscape of the city, the ever changing rules and regulations and quite simply knows how to get things done. A few investors in the past few weeks have gotten caught up with why we were collecting a fee for the City of Philadelphia Streets Department.  If you didn’t know already Philadelphia … [Read more...]

Investors – Make sure you use the Landlord Coop Program!

PGW

Almost weekly we have a issue with PGW liens in a settlement where one investor is selling a single family property or a apartment building to a another investor.  The same conversation takes place over and over.  "The tenants pay their own gas bills we separately metered the property because of this...", the seller will protest.   Well a Philadelphia title company knows better.  If there is a tenant who does not pay PGW has the right to file a lien against the property.  Hence if there is a past balance at the time of closing … [Read more...]

Choosing a Title Company in Philadelphia-

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How To Choose a Philadelphia Title Company? Many Philadelphia home buyers don’t even realize what Title Insurance really is. Many consumers don’t know they even need a Philadelphia title company until they were told so by their bank or realtor. The fact you are actually conducting due diligence in your search for a title insurance company is an important step. First off you are on the right path to guarantee your transaction goes smoothly and you have the adequate 3rd party protection and security that you as a consumer … [Read more...]

Title Insurance in a Stuggling Economy

Title Insurance in a Struggling Economy Whether you’re a first time homebuyer or upgrading from your starter home in Philadelphia, closing escrow is an exciting time. In such a volatile real estate market, it’s especially important to protect your home with the proper title insurance policy underwritten by a reputable Philadelphia based title company. Although a thorough title search is part of the escrow process, there are several unforeseen problems that could crop up after closing especially in this economic climate. Over … [Read more...]

Hire a Independent Title Insurance Company!

When purchasing a home in Philadelphia, Pennsylvania it is vital that you work with a title insurance provider who knows Philadelphia and will be able to assist you in every part of your real estate transaction. Philadelphia has quirks that many outside title companies just don't understand and lack expertise with.  Dealing with city hall, the water department, PGW, nuisance liens, sheriff sales, the DA, city certifications, etc. etc. a title company needs to know the ins and outs of clearing title issues in Philadelphia to … [Read more...]

Pennsylvania Title Insurance Endorsement 301: What Consumers Don’t Realize!

A home buyer shows up to the walk through the morning of settlement to find the next door neighbor lingering around waiting for him to show up.  As the buyer walks toward the property the neighbor explains that the house encroaches on his property.  The buyer continues with the walk through and if it wasn't for this newly found information settlement would be a breeze. Lets assume that the home buyer has no reason not to believe what the neighbor said.  What are his options? The truth is Pennsylvania Title Insurance … [Read more...]

Real Enforcement Coming? Via the CFPB

It seems to be well known that the Consumer Financial Protection Bureau (CFPB) intends to be fully operational and hit the ground running on July 21, 2011. The CFPB revealed on April 11, 2011, that it has agreed on a Joint Statement of Principles with the National Association of Attorneys General (NAAG) to govern their interactions in enforcing the Dodd-Frank Wall Street Reform and Consumer Protection Act and CFPB regulations. In a notice published by the US Dept of Treasury the CFPB seeks comments on its plans for collecting … [Read more...]