What About Title Insurance?
Title insurance is a policy that protects against financial loss stemming from problems found in a property's title, or legal ownership.
However, Iowa is the only state that does not allow private companies to sell title insurance. The state has a public title guarantee program. In Iowa, the property abstract is updated and then an attorney's title opinion (title guarantee commitment) is prepared. The program is laid out like this. (From the Iowa Finance Authority) The Iowa Legislature created Title Guaranty to provide guarantees of Iowa real property titles, facilitate mortgage lenders’ participation in the secondary market and to help assure the integrity of Iowa’s land-title system. As a division of the Iowa Finance Authority, Title Guaranty is totally self-supporting. All revenue in excess of operation expenses goes toward home ownership programs for first-time homebuyers. Title Guaranty’s profits are re-invested in the state of Iowa. Title Guaranty offers Commitments, Certificates, and Endorsements that provide low cost title protection for real estate located in Iowa. Title Guaranty issues coverage based on an abstract and attorney title opinion. Once a participating abstractor prepares an abstract, a participating attorney reviews and then issues a title opinion or Title Guaranty Commitment. All Title Guaranty Commitments, Certificates and Endorsements are issued using the industry standard ALTA forms. For a residential transaction, coverage up to $500,000 is just $110 and an additional $1 per thousand over $500,000. Most common endorsements are offered at no charge. For a non-purchase residential transaction such as a refinance or second mortgage, the premium is just $90 for coverage up to $500,000. As of April 1, 2007, Title Guaranty provides FREE Owner’s Coverage when issued in conjunction with Lender’s Coverage. For more information on rates, click onForms and Documents. Once the transaction is complete and new mortgage documents are recorded, the abstract is updated. Then, either the participant or Title Guaranty will issue the Certificate.Get In Touch
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Local Expert Updates
Janie Eick
Cell: 712.339.0574
Liz Sandy
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Greg Sheeler
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Brooke Jones
Cell: 641.420.2172Community Updates
The Barefoot Bar
Arguably the most iconic spot in all of the lakes area, Barefoot Bar is the one place you must visit when you're here for the summer. They have the best blended drinks, as well as every other cocktail you can think of, served in their signature cups. Its the perfect place on the lake to sit back and relax with friends, while enjoying the view, and all of the palm trees. Barefoot Bar also has a menu, to enjoy some food while you're soaking in the sun. Its even the perfect place for kids, with a full swing set, and even a slide that goes right into the lake!
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I hear this one all the time from prospects looking to list their house. "Well, agent xyz told us that if we listed with her, she'd have it sold in a week." This would fall into the category of "If it sounds too good to be true, the probably is." The majority of agents are not going to make this claim, but rather will give you an honest market analysis, inform you as to how weak or strong the market is, especially the market in which your home resides, and present the objective facts. A good agent will then lay out an effective marketing plan, where the majority of the focus should be on "online marketing". Be careful to not get caught up in empty promises, reduced commissions, and being talked in to lowering your price below market value (unless you must have a quick sale). The key to choosing a good listing agent is to objectively determine who is going to provide you the best opportunity to sell your home. Will your listing agent also aggressively work to find buyers, or will they just list your home and wait for another agent to do the work.
Cafe Esteam
This new coffee shop is located in the Allure & Co. downtown Spirit Lake. They offer amazing coffee, smoothies and homemade baked goods. This is a great addition to the community!