Hi! It's Lou Brown. With another one of my amazing 101
ways for real estate investors like you to win, close more deals and accelerate
your cash flow. Today's tip is number 39. In this series I'm going to be
talking about when you're closing to purchase a property. So this is going to
be focused on areas that affect your bottom line with a thing called a closing
statement, right? So sometimes you go to a closing and all of a sudden you're
surprised by some of the costs that are on there. Well, it's because you didn't
manage those costs. So my suggestion for you on this tip is ask if you can get
a reissue fee on the title insurance. This is when your closing agent writes
for the same firm that issued the prior title insurance. So in other words, that
seller, when they purchased the property, likely also purchased a what's called
an owner's title policy.
ways for real estate investors like you to win, close more deals and accelerate
your cash flow. Today's tip is number 39. In this series I'm going to be
talking about when you're closing to purchase a property. So this is going to
be focused on areas that affect your bottom line with a thing called a closing
statement, right? So sometimes you go to a closing and all of a sudden you're
surprised by some of the costs that are on there. Well, it's because you didn't
manage those costs. So my suggestion for you on this tip is ask if you can get
a reissue fee on the title insurance. This is when your closing agent writes
for the same firm that issued the prior title insurance. So in other words, that
seller, when they purchased the property, likely also purchased a what's called
an owner's title policy.
Well, that owner's title policy has value. And if you can
update that, let's say that the seller bought the property five years ago. Then
the title company would only need to pick up where the other policy left off.
You see a title insurance policy essentially is the day of purchase, but not
going forward in terms of anything that might have happened to title after you
purchased the property. So when you purchased the property now, let's say it's
five years after your seller bought the property, well, they can go back just
five years and look to see if anything has been attached or any liens have
attached to that property since the last time they checked the title. Well,
that can bring a savings to you and to your bottom line. I hope that this has
been valuable to you. I know it's helped me and I've made a lot of money
because of that, so I know it can make a difference in your profits and I'd
love to share more of my profitable free tips with you. How can you get more?
Well, simply wherever you're seeing this, depending on where you're seeing it.
Just like it. Love it. Comment on it. Share it. And send it to your friends as
well. I hope to see you soon. Yeah, baby!
update that, let's say that the seller bought the property five years ago. Then
the title company would only need to pick up where the other policy left off.
You see a title insurance policy essentially is the day of purchase, but not
going forward in terms of anything that might have happened to title after you
purchased the property. So when you purchased the property now, let's say it's
five years after your seller bought the property, well, they can go back just
five years and look to see if anything has been attached or any liens have
attached to that property since the last time they checked the title. Well,
that can bring a savings to you and to your bottom line. I hope that this has
been valuable to you. I know it's helped me and I've made a lot of money
because of that, so I know it can make a difference in your profits and I'd
love to share more of my profitable free tips with you. How can you get more?
Well, simply wherever you're seeing this, depending on where you're seeing it.
Just like it. Love it. Comment on it. Share it. And send it to your friends as
well. I hope to see you soon. Yeah, baby!
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