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About Reza Ardebili
Expertise
I am a Real Estate Broker. I own my own properties, and I build many 3 family homes.
I can answer all aspects of purchasing/selling/researching on real estate in NY.
I specialize in 2/3 families in NYC (5 boroughs). I can also help you through the process.
BROOKLYN, MANHATTAN, BRONX, QUEENS’s properties in which you can build equity and your rental income pays for your mortgage is a very good idea. Most properties I sell/build are in this category.
Hope I can be of help.
Experience
I have been in this field for 8 years now. New Construction, and finding investment properties are 2 of my specialties.
Organizations
I own my own real estate company. I am a Realtor. MLS member.
Education/Credentials
I am a Rutgers University Graduate. I recieved a B.A. in CIS. Minor in bussiness.
Awards and Honors
Just many thanks from the families I helped. That is enough award for me.
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You are here: Experts > Real Estate > Real Estate by Location > Real Estate: New York > title insurance
Follow-Ups to Answer from Expert Reza Ardebili
Close It Fast writes on 2008-08-06 22:57:06
Title insurance protects the interest of the lender for a Mortgage Policy and the interest of the buyer for an Owner's Policy.
If you had a title agency do a Report on Title (no insurance coverage), please be advised that in NO WAY is the title agency or its Underwriter responsible for issues of title that may arise at a later date which were caused by prior owner acts.
The risk is 100% your liability, even if the title agency missed something on their Report on Title, because their FYI Report is not insurance for covering errors, ommissions, or defects. It is a simple property report and probably has a disclaimer on it that they are not responsible for claims exceeding the cost of the Report (usually a couple hundred dollars).
This includes any possible defects in title, the legal description, the survey, the taxes, past mortgages, liens, or claims to the property.
When purchasing cash, you are not required to purchase an Owner's Policy, but if you do not, you are also not protected against any defects when you go to sell.
Most people elect the coverage because it is a one-time fee for as long as you own your property - 1 year or 50 years. You also get a discount should you ever decide to refinance the property.
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