Home Selling in 11235>Question Details

dono, Home Buyer in Brooklyn, NY

My uncle passed away and left his house for us to sell in Brooklyn. Should we purchase title insurance as added protection and if so how?

Asked by dono, Brooklyn, NY Thu Aug 30, 2012

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Title Insurance is added protection for the BUYER. This protects the Buyer in the event that the property has a lien on it that comes up after they purchase the property. I don't see why a SELLER would need Title Insurance. Get it?

I invest and sell homes in Brooklyn and Queens and work with Realtors and Attorneys familiar with creative ways of selling a home so that Home Owners get their asking price even if they are asking for more than the market value.

Send me a message if you need some real guidance (I'm not a Realtor so my guidance is not biased to any licensed profession)
0 votes Thank Flag Link Fri Nov 30, 2012
Hello, your uncle should already have title insurance for the home, the lawyer can check this out by running a title search. If you are selling the home the buyer will need to purchase title insurance before the home closes to later protect them if anything comes up with the title.

If you need any further help you can simply email me at HelpMeRhonda1919@yahoo.com or call me at 646-725-5941.
0 votes Thank Flag Link Thu Oct 4, 2012
IF YOU WANT TO SELL THE HOUSE, CALL ME AND I'LL EXPLAIN TO YOU WHAT TO DO.

JEN LEE
REMAX METRO
jlee888@live.com
917-609-1196
0 votes Thank Flag Link Mon Sep 3, 2012
You do not need to purchase title insurance but it would be a good idea to run a title report on the property before you list the property for sale. This would help you to detect any problems on title in advance and clear them before a potential buyer enters into contract. If you have an attorney they can secure a title report for you at a nominal fee or in some cases free.

If you need help listing the property and/or if a buyer needs mortgage assistance I can help in both areas. I am easy to get along with, normally work 24 hours and will work non-stop for you until the deal is closed. Contact me anytime at 914-299-0420
0 votes Thank Flag Link Thu Aug 30, 2012
You are thinking proactively but you didn't say how you got the property whether though the will or on how you got it. If your Uncles estate was probated they would have performed a search to uncover if your uncle had any debts or assets. Depending on how you recieved the property will determine how you should proceed. Getting a title report will disclose if there any pending debts on the property that can cloud title and anything that may be on you and others that may be involved with the property to prevent any surprises when you decide to sell and at closing. Good luck...
0 votes Thank Flag Link Thu Aug 30, 2012
Your attorney can better advise, consider a consultation...
0 votes Thank Flag Link Thu Aug 30, 2012
Dear dono:

Most likely that will not be necessary. Your best bet would be to speak to an attorney who specializes in estates and real estate. I know several attorneys that can help you if you need a recommendation. Depending upon when your uncle passed away you may need to have an appraisal done on the property to figure out your cost basis for capital gains taxes. If the death was within the past year you probably do not have to worry about that.

I have been selling real estate in Brooklyn since 1993 and I primarily deal with estates as well. Please contact me as I would love the opportunity to help you.

Sincerely,
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
Email: MitchellSFeldman@aol.com
0 votes Thank Flag Link Thu Aug 30, 2012
Title insurance is only purchased when a buyer receives title from the previous owner and lasts until he or she resells the property
If you intend to sell the property I can help you get the job done Quickly the Brooklyn Market is very active now.

Call me
718 256 4000
0 votes Thank Flag Link Thu Aug 30, 2012
I do not believe you have to concern yourself with that, generally you purchase title insurance when buying a house. What you need is a real estate agent. Give me a call.

Sincerely,

Kenneth Simmons
Licensed Real Estate Salesperson
Ideal Properties Group LLC
C: 718-344-2163
O: 718-840-2757
F: 718-228-9359
idealpropertiesgroup.com
ksimmons@idealpropertiesgroup.com
0 votes Thank Flag Link Thu Aug 30, 2012
What makes you think you need to purchase title insurance?
Web Reference: http://www.bverealty.com
0 votes Thank Flag Link Thu Aug 30, 2012
I deal with estates very fequently. Please give me a call for the best advice possible.

Luke Constantino
Commercial | Residential
REMAX PARK SLOPE
Direct: (212) 300-3919
Lukeconstantino@remax.net
http://LukeConstantino.com
0 votes Thank Flag Link Thu Aug 30, 2012
You should probably consult your attorney.
If you do not have one feel free to contact me at 917-334-8990. I can recommend a very good attorney that is well versed in these matters.
Also, if you are considering selling the property I would be happy to assist you through out the process.

Best,

Michael
Michael J. Dvorkin
Licensed Real Estate Salesperson
Charles Rutenberg LLC (REBNY)
127 East 56th Street, 4th Floor
New York, NY 10022
917.334.8990 mobile
646.381.3644 fax
mdvorkin@rutenbergrealtyny.com
mjdvorkin@gmail.com
0 votes Thank Flag Link Thu Aug 30, 2012
Title insurance was mostly likely purchased when he bought the house. Do consult with an attorney for this advice.

Try calling Darren Sheehan, Esq at (516) 860-8906

He will be happy to answer your question.
0 votes Thank Flag Link Thu Aug 30, 2012
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