What is the Tax Exclusion Rule for the Sale of a Residence?
The Taxpayer Relief Act of 1997 has replaced the old Rollover Residence Replacement Rule, IRS Code Section 1034,…
What is the First of the Three Most Important Documents My Escrow Officer Will Need?
Your escrow officer or closing agent will refer to three main documents to act as the roadmap to…
For Tax Purposes, What Is The Best Time To Buy My House?
Knowing when to close your real estate purchase can work to your advantage at tax time. You may…
Will The Builder Pay for the Owner’s Policy of Title Insurance?
In many states it is customary for the Seller to provide the Buyer with an owner’s policy of…
Tax Prorations At Closing Time
Among the various items which will be prorated, or shared between the buyer and seller at the closing…
Should I Compare Escrow Fees On-Line?
When you begin shopping for the best home price, mortgage rate, insurance premium, and lender closing costs, so…
Will My Escrow Officer Review My Loan Documents With Me?
When you sit down for your closing, whether it is at a title company, an escrow office, an…
Will My Utility Bills Be Pro-Rated In Escrow?
At close of escrow, certain expenses will be pro-rated, giving the Buyer and Seller any credits they may…
What Is An Attorney’s Opinion Of Title?
In some states around the country, attorneys examine the recorded documents relating to title and issue what is…
What Is The Difference Between a Title Theory and a Lien Theory State?
Often a buyer wonders if he is buying property in a state which is considered a “title theory…
When Is Escrow Considered Open?
When you give your deposit to the real estate agent and the signed sales agreement has been signed…
Do I Get Title Insurance on a Condominium?
In a condominium, you technically do not own “land” but rather you own the “air space” inside the…
What Is The Difference Between A Mortgage And A Deed of Trust?
When a borrower signs a promissory note, he is agreeing to pay the lender a specific amount of…
The Final Walk Thru Inspection
Who is going to remove the boat? Before the closing takes place, it is customary that the buyer…
Can Unmarried Persons Hold Title As Joint Tenants?
Many times two or more owners want to hold title to a property and they want the “right…
Will My Loan Have A Prepayment Penalty?
Prepayment penalties are those charges which a lender imposes if you wish to pay off your loan early….
Is Title Insurance Required by Law?
Title insurance is not required by law, however almost all lenders will require a lender’s title insurance policy…
How Do I Prepare For Closing?
Prior to the actual closing day, there are several things you should do to be certain that your…