More than 50 percent of homebuyers were surprised that they had to pay closing costs or that the fees were higher than expected, according to a survey released by ClosingCorp.
Continue reading →Real estate closings can be fraught with complications and setbacks, but they can go smoothly and quickly — if planned for carefully. You may think that an “all cash” deal would go through closing faster than a sale that involves … Continue reading →
In almost all real estate transactions, there are title issues that must be cleared up in order to transfer ownership of the home from the seller to the buyer. Does the seller have the legal right to sell the property? … Continue reading →
A recent effort by the federal government to make the home closing process smoother and more transparent for buyers has instead turned into a quagmire of inconsistency and confusion, according to title companies and real estate agents. Now, the agency … Continue reading →
State-of-the-art appliances, sleek lighting fixtures and tasteful window treatments can all make a memorable impression on potential home buyers. Silk curtains that match the wall or floor coverings, elegant chandeliers or crystal knobs on cabinet doors are features that buyers … Continue reading →
It may be common for you to hear that the builder of the new home you will be buying will be handling the escrow for you. The builder may also be helping you with the mortgage to finance your new … Continue reading →
The Tax Reform Act of 1986 required anyone responsible for closing a real estate transaction, which may include the escrow agent, title company, or attorney, to report a real estate sale or exchange to the IRS on Form 1099-S. In … Continue reading →
Buyer’s Home Closing Checklist Have you made a final walk-thru inspection of the property? Is the condition of the house or property as it should be? Are there any personal property items left behind by the Seller. Is everything in … Continue reading →
Here is a summary of closing practices for each of the United States. This is a general reference guide. Local practices within your city or county may differ.
Continue reading →By Sandy Gadow Special to The Washington Post One of the most important decisions that needs to be made at closing is how you choose to hold title. It determines how you will be insured, but it can also have … Continue reading →
By Sandy Gadow Special to The Washington Post Ever notice how enticing advertising for newly built houses can be? More than one million new housing projects were started in 2014, and the prospect of being able to choose between several … Continue reading →
By Sandy Gadow Special to The Washington Post Buyers usually have no reason to suspect that an outstanding permit exists on a home they intend to purchase. After all, repair or remodel work may not be obvious during a visual … Continue reading →
Real estate closings may be handled by escrow companies, title companies, lawyers, or a combination of one or more of those. Some lenders may have their own closing department. A revised explanation of how a real estate closing will be … 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 →
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 →
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 →
