Buyers & Sellers
At South Oak Title, we want to help you understand each step of the real estate buying or selling process you are going through. Every closing is important to us. Every person is important to us. You are important to us. We understand that buying or selling a house is a big decision for you. It is exciting but can also be stressful. So we’ve put together some information to prepare you as well as frequently asked questions. We want to make your closing experience as stress-free and enjoyable as possible.
Don’t see your question here? Just call the location near you or email us at info@southoaktitle.com.
Guides
So you are considering buying a home? You are taking a journey towards the American dream of becoming a homeowner. As with any journey with a prize at the end, you may need assistance and will likely encounter problems. South Oak Title is here to provide you some great information, assist you in mapping out a successful route and help you navigate the obstacles that could derail you. Your goal of homeownership can be rewarding so start below with your planning and best wishes from our team on reaching your goal!
There’s a million reasons someone decides to sell: you’ve outgrown your house, you’re children are grown, you have saved for your dream home, you’re relocating, you need something in the city, you want to live in the country. Whatever the reason you want to sell, your home is one of your largest investments so you want to be sure and plan this out to get the most out of this long-term investment. It’s a big undertaking and you may be asking yourself where do I get started?
We strongly encourage you to consider utilizing the services of a licensed Real Estate Agent when buying or selling your home, however, we understand that not everyone does so. We can and will help you. If you are in a situation of buying and/or selling by owner, our office can assist you with the contract preparation. For more information or a quote, please call a South Oak location near you.
Below are some of the frequently asked questions we receive. Don’t see your question here? Please call our office at 205.983.8100 and ask one of our professional staff members.
Definitions:
- Title – evidence that the owner is in lawful possession of that property
- Deed – instrument that is executed, acknowledged and recorded in the proper county. A properly executed deed serves to create title in the grantee with respect to the particular property covered by that deed.
- Title Insurance – insurance to protect real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or the defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions.
- Escrow – The process in which the funds of a transaction (such as a sale of a house) are held by a third party, often the title company or an attorney in the case of real estate, pending the fulfillment of the transaction.
- Defects - things such as another person claiming ownership, improperly recorded documents, fraud, forgery, liens, encroachments, easements, and other items that are specified in a title insurance policy.
Looking for more? Check out our Beginner's Guide to Title & Closing
According to Alabama law, property owners who own a single-family residence and occupy it as their primary residence on the first day of the tax year can claim Alabama Homestead Exemption as a tax deduction.