It's not about Title Insurance! Getting Down Payment Help Now. Sharing Home’s Gain (or Loss) Later.

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

From the New York Times, an interesting way to get a large down payment for that expensive home:

Getting Down Payment Help Now. Sharing Home’s Gain (or Loss) Later.

With home prices in some markets going through the roof (pun intended) just how does a home buyer come up with that large down payment.

For aspiring homeowners, coming up with a healthy down payment has long been the biggest obstacle to owning a home.
 With property values soaring in many areas — median prices in San Jose, Calif., and Denver are 60 percent above their prerecession peaks — the barrier is rising. That has some firms promoting unconventional ways to scrape together a down payment, including crowdfunding and using Airbnb rental income.
 Now, a small but growing number of home buyers are trying something different: asking an outside investor to put down money alongside them.
 It is called shared equity, and Unison, a company based in San Francisco, is the largest of a handful of firms putting it to work. Unison will provide at least half of a consumer’s down payment in exchange for a piece of any appreciation in the home’s value when it is sold. If the home sells at a loss, the company absorbs a share of that, too.

Read the full article here. 

What will they think of next?

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if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

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What is title insurance? Why do you need it?

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

Title insurance may seem like just another expense to pay when you buy your home, but this coverage may be more important than you think. Title insurance seems unnecessary, but, when you need it, you’ll be glad you have it.

For instance, someone says they have a claim against your home, your title insurance policy steps in to protect you from financial damages. Title insurance can also protect you from the impact of old liens, unpaid property taxes or even the contractor who says he was never paid for work on the home.

If you are worried about being overcharged, please know that title insurance premiums are regulated by the New Jersey Department of Banking and Insurance.

To learn more about title insurance, call us, or take a look at the NAIC article the Vitals of Title Insurance.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

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The Rise of the Accessory Dwelling Unit

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help.

Accessory Dwelling Unit is a mouthful.  What does it mean?  How about "where do I put my mother?

From NYTIMES.COM-

When Jeni Nunn, an agent with Intero Real Estate in Santa Clara, Calif., and her husband bought their 1,270-square-foot house, they planned to use its deep backyard to build a pool or playground. But they switched course when Nunn’s dad and mom (diagnosed with Parkinson’s) couldn’t find an affordable condo nearby. Instead, four years ago, they built a 640-square-foot, wheelchair-accessible, one--bedroom house, with room for their baby grand piano, for $160,000—a bargain in the Bay Area. “For us, it’s the perfect scenario,” says Nunn, who is also a mother of four. “I can send my 3-year-old into the backyard. ‘Go to grandma’s house!’ ”

Nunn’s own build-out put her at the leading edge of the movement to address one of today’s most vexing real estate problems: the need for affordable housing in areas with tight inventory. These secondary residences, known formally as “accessory dwelling units,” have become a popular alternative in high-demand areas of the U.S., from Washington, D.C., to Seattle. And local governments are increasingly passing measures that makes it easier for homeowners to build and rent out ADUs. The homes are permanent, with their own entrance, kitchen, and full bath. “It’s a self-contained dwelling on the same property as a standard single-family home,” explains Martin Brown, a researcher who co-edits AccessoryDwellings.org and rents out an ADU on his Portland, Ore., property. While much attention has been paid to the rise of tiny homes under 400 square feet, the emergence of compact ADUs has been similarly swift, if with less hype. 

Ponder the future and read the full column here.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

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Home Warranty and Home Insurance, what's the difference?

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

This post about the differences between a home warrant and homeowner's insurance is an oldie but a goody from Plymouth Rock Insurance and is worth setting out in full.  Just remember, neither are title insurance.  We can give you that!

What’s the Difference: Home Warranty Versus Home Insurance

August 9, 2016

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Last updated on July 19th, 2018 at 06:10 pm

If you own a home, you probably already have a homeowners insurance policy. If you’re shopping for a new home, you may have been approached about buying a home warranty or had one offered as part of your real estate deal. While both offer protection for your home, they’re not the same thing and it’s important to understand the differences between a home warranty versus home insurance.

What You Should Know

1. A home warranty generally helps to cover appliance or equipment breakdowns, whereas home insurance helps you repair your home from unexpected damage or situations, like fires and theft.

2. You might not have to purchase a separate home warranty. If you have home insurance through Plymouth Rock, you might be able to add optional coverages that are similar to home warranties, like equipment breakdown and utility line coverage. Plymouth Rock’s coverages can be cheaper than purchasing a separate home warranty.

If you want to know more about home insurance coverages, Plymouth Rock has handy resources for you to check out.

3. If you’re financing the purchase of your home, most lenders require homeowners insurance, but home warranties are typically optional.

Still, a home warranty could be a smart purchase depending on your own situation because it might help you control your budget for home repairs. And, when it comes to buying/selling real estate, a home warranty can offer benefits for both buyers and sellers.

Say, for example, there’s a home on the market that has a furnace and air conditioning system that’s up there in age. As a buyer having a home warranty might be a good way to guard against breakdowns or malfunctions. As a seller, offering a home warranty can help to assuage potential buyers who might be leery about buying a home with older HVAC systems. 

How Each One Works

When you buy a home warranty, you purchase a service agreement that pays for the repair or replacement of things inside of your home when they break down. Compare that to home insurance, which covers your home’s actual structure and your possessions. You should check your own home insurance policy to find out exactly what it covers.

Here’s an example to help you understand the difference: your insurance policy may help to replace your washing machine if it’s damaged by a fire, but a warranty may help replace it if it simply breaks down (however, it will depend on the terms of your service agreement).

If you do opt to purchase a home warranty, you can purchase different levels of protection. Basic warranties typically cover appliances, but you can even upgrade to cover things like a swimming pool. It’s also a standard practice for most warranties to include a modest deductible.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

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The Pros and Cons of Metal Roofing

We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help.

Jennifer Geddes writing at Realtor.com lists the good and the bad about metal roofing materials.

Metal Roofing - Gary Alvis/Stock

If the time has come to get a new roof for your home, you might like to consider the option of metal roofing. This important improvement project is something most long-time homeowners will eventually have to undertake, and choosing the proper roofing material should not be taken lightly. A functioning roof will protect your home from harsh outdoor elements like rain and snow and ensure its structural integrity.

 Asphalt shingles are common, but the one type of covering that is catching the eye of an increasing number of homeowners is metal roofing. "Metal roofing is gaining in popularity," reports Todd Miller, president of Isaiah Industries in Piqua, OH. It had a 14% market share in 2016, up from 11% the year before, according to FW Dodge. Only asphalt shingles outpace metal in the remodeling market.
 In terms of style and utility, metal roofing gives any other material a run for its money, but does it suit your home (and budget)? Take a look at the best and worst things about metal roofing before you commit to it.

Continue to the full story.

For your next title order or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

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