This is time allowed by law during which a buyer has the right to cancel a purchase agreement without penalty. Refer to your purchase agreement for details regarding the length of the rescission period and any notice requirements. 

White Rock accepts checks (personal and cashier) and all major credit cards (VISA/MC/AMEX/DISCOVER).

A title company representative searches the public land records to gather information about the property, and then examines findings to determine whether title is clear of defects. 

A marketable title is one that can be transferred to a new owner without the likelihood that claims will be made on it by another party. Buyers expect to receive property to which no one else can lay claim. For this reason, the title search and exam process are essential parts of the closing process, and the reason why one should consider purchasing title insurance.

Title insurance is a one-time purchase that protects you against title defects for as long as you own the property. Coverage is limited to the purchase price for the subject property.

Some risks, such as document errors or undisclosed heirs, are difficult to locate and identify in a title search. Therefore, it is a good idea also to purchase a title insurance policy that will help protect you from risks that might be discovered down the road. A title policy is a one-time purchase and is commonly called an owner’s policy that protects your purchase as long as you own the property.

The County Recorder will charge a fee to record a deed, which averages $20. Some counties also charge a transfer tax; amounts can vary significantly among counties. The POA or resort may charge a transfer fee. Some resorts may charge a fee to provide an estoppel disclosing amounts owed for dues, special assessments, or transfer.

When the title is transferred or deeded to a new party, it may be subject to a transfer tax that is charged by the county to transfer title in the land records.

Generally, no. Most mortgages are not assumable; and, therefore, must be paid in full. You may direct proceeds from a sale to pay off a loan. However, if the sale proceeds are insufficient to pay off the loan, you will be required to pay the balance before the transfer can be completed.

Transfer following the death of an owner is governed by the probate laws in the state where the property is located. There are many variables that will determine what is required. Such variables include ownership vesting, state of residence, property location, and heirs.

Please contact us at 479.242.0974 to discuss in more detail.

Vesting is how title is taken to the property. For instance, “joint tenants with right of survivorship” is generally used when two or more people own property and each owns an equal share.  White Rock cannot advise you on how to take the title.

Reviewing relevant sections of your divorce decree is necessary to fulfill our commitment to deliver accurate, quality services. Even though the property was granted as part of a divorce decree, a deed is required to transfer title or remove a spouse.

Typically, the Buyer should notify the HOA and management company that the property has been sold or transferred by giving them a copy of the recorded deed, but it is a good idea for the Seller to also notify these entities. Failure to timely notify the HOA and management company may result in issues around payment of dues or use of the property.

Yes, the Seller will receive a copy of the recorded deed, and the Buyer will receive the original. Please note that some counties may take up to 6 months to return the recorded deed.