Real Estate FAQs

1. Why do I need an attorney to represent me in a real estate transaction?

2. What is an offer to purchase and how does it differ from the contract of sale?

3. What is the mortgage contingency date?

4. What is a title search? Will the title search reveal zoning and building violations?

5. What is title insurance and why do I need it? What are my options with regard to Title Insurance?

6. What is homeowners (sometimes called hazard) insurance and why do I need it?

7. What are my options for holding title?

8. What is a mortgage and how does it affect the use of my property?

9. What is the difference between marketable title and insurable title?

10. What happens at the closing?

11. Who pays the real estate agent's commission?

12. If I am purchasing a condominium and the condominium association already has a master hazard insurance policy, do I still need to obtain my own hazard (condo owner's) insurance policy?