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A real estate transaction can only proceed if the house has a clear title. That means that the party selling it has the legal right to do so and that there are no liens or claims against the property. A title search can turn up any issues that may exist.

When and How Is a Title Search Conducted?
A title search is usually performed after the seller has accepted the buyers offer. Someone who wants to buy the property may request a title search, or a lender may request one before approving a mortgage. A title company or attorney can check deeds, land records, tax liens, bankruptcy records and divorce and child support orders to identify any judgments or claims against the property. A title search can also identify any pending lawsuits against the owner.

If you request a title search, you will be given a preliminary title report that will include information on any issues discovered. If an issue would be relatively easy to resolve, you can require the seller to address it before you proceed with the purchase. If there is a more serious or complex issue and you need to close by a specific date, or if you simply dont want to deal with the hassle, you may choose to walk away.

What Types of Issues May Be Discovered in a Title Search?
The property may be owned, in whole or in part, by someone else. It is possible that someone legally purchased the property but that the title was not recorded for some reason. A document may not have been signed where required or a signature or document may have been forged. An easement may not have been recorded properly, the location of the property line may have been reported incorrectly or there may be a tax lien against the property.

What is Title Insurance?
Even if professionals review documents, they may miss something or a document may contain an error. If a lien or judgment against the property is not discovered during the title search and you buy the house, that lien or judgment can become your legal responsibility. You can purchase title insurance to protect yourself and your mortgage lender from issues that might be discovered later.

How Much Does a Title Search and Title Insurance Cost?
Costs for a title search and title insurance vary by location. They also depend on the purchase price and loan amount. While you might be able to perform a title search yourself, you would have to comb through a large volume of documents. If you dont have experience in this area, you may miss something important. It would be better to trust such an important matter to professionals with training and expertise in this area.

Published with permission from RISMedia.

Here are four tips for curating shelves that are stylish and creative.

Form and Function

If you dont have built-ins, there are tons of functional options that are easy to install, from floating shelves to open box shelves.

Show Off Books

Choose a handful of books that are visually pleasing or mean the most to you to display.

Go Green

Houseplants can provide the perfect sense of balance amidst your other objects and artifacts.

Exhibit Your Art

Whether its handmade pottery, sculptures or framed pictures, this can be a surprising use of space that feels sophisticated.

Published with permission from RISMedia.

Most mortgages have a term of 15 or 30 years. However, if you want to buy a more expensive house than you could afford with one of those loan options, you might be able to purchase your dream home with a 40-year mortgage. You could have a hard time finding such a loan, though, and you would pay more over the term of the mortgage.

How Does a 40-Year Mortgage Work?
There are several variations on the 40-year home loan. Lenders may offer one or more versions. Most have a fixed interest rate, but some have an adjustable rate. The interest rate for a 40-year mortgage is often higher than it is for a 30-year loan. Some 40-year mortgages have interest-only payments for the first several years, while others have low monthly payments and a balloon payment due at the end.

Costs and Equity With a 40-Year Mortgage
Since a 40-year mortgage spreads out the cost of a loan over a longer period of time than a traditional mortgage, it has lower monthly payments. That could make a 40-year mortgage a good option if you want to keep your monthly payments as low as possible or if you want to buy a more expensive home.

You will pay more in interest with a 40-year mortgage because it will have a higher interest rate and you will be paying interest over a greater number of months. You can also build equity more slowly with a 40-year loan. If you decide to sell your house before you pay off the mortgage, you might have little equity, even after living there for several years.

Is a 40-Year Mortgage Right for You?
If you are considering a 40-year mortgage because you want to buy an expensive house and you cant afford the monthly payments for a 30-year loan, you may be better off purchasing a less expensive house and taking out a smaller mortgage with a shorter term. If, on the other hand, you want to buy a house in an area where average home prices are high overall, a 40-year mortgage might be a better option.

Be sure to carefully consider the terms of each specific loan. For instance, if you take out a 40-year mortgage with a balloon payment and youre unable to pay the large sum, you could lose your home.

How to Find a 40-Year Mortgage
A qualified mortgage meets standards that the Consumer Financial Protection Bureau has set to make sure that borrowers are only approved for home loans that they can afford to repay. A qualified mortgage may not have a term longer than 30 years.

A 40-year mortgage is an unqualified loan. Many lenders consider unqualified mortgages riskier than qualified mortgages and do not offer them. You may be able to find a 40-year mortgage through a small private lender or a credit union. Before you take out a 40-year mortgage, check the lenders background to ensure it is reputable.

Published with permission from RISMedia.

You likely already know that home maintenance tasks are a vital aspect to keep your home at its best, but some home maintenance goes far beyond simply protecting your largest investment. Fire safety maintenance ensures your safety and the safety of the ones you love. Dont get caught in a dangerous situation that could have been prevented with a few crucial, but easily accomplished, fire-safety tasks for your home.

Check Your Smoke Detectors
This task is a no-brainer. We all hear numerous reminders to check your smoke detectors monthly. Unfortunately, such an easy and infrequent task is often pushed to the wayside in many households. Dont set yourself up for an unsafe situation”set a recurring reminder to check your detectors to ensure your households safety. Dont forget, depending on your model, you may have to change your batteries yearly and replace your smoke alarm entirely every ten years.

Replace Your Fire Extinguishers
Having a fire extinguisher can be a lifesaver in the event of a small house fire. However, owners of fire extinguishers can feel a false sense of security; its not enough to have a fire extinguisher. You must know how to use it properly and be vigilant about replacing your extinguishers once they have reached their expiration date. Dont get caught with a faulty safety tool when you need it the most. Be sure to regularly replace your fire extinguishers upon their expiration.

Clean Your Dryer Vents
Dryer vents can be a hazard. Be certain to regularly clean your dryer vents to prevent flammable lint build up. Some signs that your dryer vent could be clogged include:

Damp clothes after a normal drying cycle.
Large amounts of lint build-up in the lint trap during each cycle.
High lint build-up in the lint trap each time you clean it.
Your clothes come out with a musty or burnt odor after drying.
Clothes seem unusually hot to the touch.

Clean the dryer lint filter before and after each load of laundry and completely clean any and all lint out of the vent pipe every three months. It may be a good idea to regularly hire a professional to inspect and clean your dryer venting, especially if your vents are long. A professional will be able to save you time and do a better job of cleaning those longer vents.

Published with permission from RISMedia.

To build or buy? Here are the pros and cons of both options…

Buying Pros:

You know exactly what youre getting and can inspect the craftsmanship before you purchase it.

Its a faster and more convenient process.

Buying Cons:

Finding a house that has every feature you desire isnt easy. It could mean buying a home that needs updates.

Building Pros:

Every detail is customized just the way you want it, from the architectural style to the kitchen countertops.

Ensure your home is built with the best materials and equip it with state-of-the-art technology.

Building Cons:

Its a time-consuming process with plenty of decisions to be made and additional costs that always seem to pop up along the way.

Published with permission from RISMedia.