A recent study by the Consumer Financial Protection Bureau reported the results of a year-long study to identify the most troublesome aspects of a loan closing. The CFPB, in an effort to improve the mortgage closing process for borrowers, asked … Continue reading →
Mediation is the process in which a neutral third person, the mediator, helps parties reach a settlement to their dispute by opening up lines of communication, evaluating positions and issues involved, identifying each party’s real needs and arriving at a … Continue reading →
Jack and Eliza searched Fayette county in Virginia for the right house. Not only must it be in good condition, have a nice yard, be in a good school district, but it had to also be a show place for … Continue reading →
Choosing the right escrow officer or title attorney to handle your sale can mean the difference between a smooth and rapid closing or a complicated, delayed closing, fraught with anguish. Most often either the buyer or seller may choose the … Continue reading →
Evelyn Hunter wanted to deed a small condominium apartment in Pasadena, Ca., to her grandchildren. Because this property transfer was among relatives, Ms. Hunter didn’t see the need to obtain title insurance, a one-time premium paid to a title company … Continue reading →
New York Times April 27, 2012 There’s no lack of information on the Internet about real estate closings. But according to Sandy Gadow, the author of “The Complete Guide to Your Real Estate Closing” and a Sotheby’s broker who has … Continue reading →
Although you may not feel you need to speak with your closing agent until you are well into the purchase process or possibly not until the day of closing, it is a good idea to contact the closing agent early … Continue reading →
Often misunderstood, title insurance is viewed by many home buyers as an unusually high expense in comparison to other closing costs in their real estate transaction. Lender costs are generally accepted, as borrowers realize they are getting something valuable for … Continue reading →
While you may want to use your local or referred title or closing company, it still may be worth your time to shop on-line to compare title insurance rates and fees. If nothing else, if you find a cheaper rate … Continue reading →
A co-op is similar to a condominium except rather than owning a piece of physical property you own a share in a corporation. The corporation in turn owns the building you live in, and you get a proprietary lease to … Continue reading →
While there is no “best” way to improve your credit score, as each of the three main credit reporting bureaus may give a higher value to one type of action over another, there are several steps you can take, which … Continue reading →
Raj and his wife Nila want to buy a house in America to be used as a vacation home. They are citizens of India and unsure as to the rules which dictate how they can make a property purchase. Raj … Continue reading →
There are several things you can do to be certain that your real estate transaction will close on time, and that everything will go smoothly. A day or two before closing, you should review your final closing statement or HUD-1 … Continue reading →
The First Time Homebuyer Credit is a credit available to taxpayers who purchase a primary residence during the period April 8, 2008 and December l, 2009. It is a result of the Housing and Economic Recovery Act of 2008 and … Continue reading →
Easements (those rights someone else has to use part of your property) are typically recorded in the public records of the County in which the property is located, and are thus easily discernable to anyone searching in the public records. … Continue reading →
While the plat map attached to your preliminary title report will show the boundaries of the property, it will not show where the house is located on the property or whether there are any encroachments on the property (such as … Continue reading →
In spite of the recent shift in the real estate market, seeing sales slowing down in many areas, savvy Buyers are looking for well-priced properties which may now be available to them. Not wanting to loose out to a competitive … Continue reading →
Depending on your annual income, cash reserves, credit worthiness, and the appraised value of the property, you may be able to borrow up to 100% of the value of the home. A typical home mortgage is 80% of the home’s … Continue reading →
