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A clear and marketable title passes to the new buyer through a Short Sale

Oct 29th 10

filed under: Colorado Short Sales, Real Estate Answers

A clear and marketable title

passes to the new buyer through a Short Sale

With all the recent news reports and discussion regarding the alleged fraud and inappropriate paperwork processing many lenders have been accused of in their foreclosure filings it raises an interesting questions in regard to the marketability of the titles issued to subsequent home buyers of these properties.

Contact-Us Search-Homes What-is-my-Home-Worth

A real estate transaction needs to have guarantees and assurances that the new buyer is purchasing a property with a clear title. This clear title is guaranteed by the Title Co which handles the transaction and insures that the property is transferred without any clouds on the title. This transfer of title is guaranteed by an insurance policy issued at the time of the transaction called Title Insurance.

With the questions being posed today in regard to fraud there remains a possibility that a new buyer of a foreclosed property assumes the risk of the previous owner suing for a reinstatement of their property rights on their foreclosed property. This issue needs to be addressed by the courts and it may be many months, if not years before a final legal decision will be in place to finally put this issue to rest.

When this same property is sold with a short sale the title is transferred at the time of the sale by the present owner before any foreclosure action is finalized. This eliminates the possibility of the previous homeowner raising any question in regard to a fraudulent foreclosure of their home. The title is transferred by the Title Company with the appropriate Title insurance policy and the new owner is issued a clear and marketable title without protest from the previous owner.

Email Lou for quick answers to your short sale questions.

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Closing Costs Seller’s Settlement Sheet. What do the numbers mean?

Jun 25th 09

filed under: Real Estate Answers

Thinking about buying or selling a home in the Parker, Colorado area? Here are answers to the most often asked questions I receive about the real estate transaction. Real Estate closing fees and mountains of numbers on your settlement sheet at closing can be quite overwhelming. What I’ve done is enlisted the help of good friend Jim Renshaw [EMAIL JIM or 303-906-1915] over at Land Title here in Parker, Colorado to help explain the fees and what they mean.

Land Title Parker Colorado

Land Title Parker Colorado

Settlement Figures Explained

Seller – Conventional Loan

FHA & VA Real Estate Transaction Costs are discussed below.

See the FULL Real Estate Closing Costs Spreadsheet Here!


For FHA transactions the seller may also be REQUIRED to pay the following BUYER costs.

  1. Tax Service Fee: $75
  2. Document Preparation Fee: (if lender prepares) $150 to $295.
  3. Underwriting Fee: $100.

For a VA loan real estate transaction the SELLER may be REQUIRED to pay the following BUYER costs.

  1. Loan Closing Fee: $250
  2. All of the real estate clsoing fee: $250
  3. Tax service fee (if lender charges this) $75
  4. Document Preparation Fee (if lender prepares them) $150 to $350.
  5. Underwriting Fee: $100 to $500.

Thank you to Jim Renshaw at Land Title here in Parker, Colorado for providing these facts.

Land Title Office Locator CLICK HERE.

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posted by Steven Beam // 1 Comment »