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 →
By Sandy Gadow Special to The Washington Post As the record-setting volume of home purchases and mortgage refinancing continues, many borrowers are becoming concerned about how to make settlement go as smoothly as possible. The right choice of a settlement … Continue reading →
Throughout the closing process, you will have been given various documents, some being mandatory government disclosure documents. These disclosures are meant to keep you fully informed in regard to the costs you will or may incur in your closing. Among … Continue reading →
Your escrow officer or closing agent will refer to three main documents to act as the roadmap to prepare your purchase transaction for closing. Those three documents will be the Purchase Agreement or contract between Buyer and Seller, the title … Continue reading →
Who controls the closing date for escrow – the Buyer or the Seller? When you make an offer to purchase a property, you will sign a Purchase or Purchase and Sales Agreement with the Seller. This document will be the … Continue reading →
Among the various items which will be prorated, or shared between the buyer and seller at the closing will be real estate property taxes. Although prorations are normally pretty straightforward and easy to understand, property taxes can be a problem … Continue reading →
Once you have opened escrow and given the escrow officer the details of your purchase, you will next give the officer the name of the lender who will be financing your purchase. You may not know the name of the … Continue reading →
When you begin shopping for the best home price, mortgage rate, insurance premium, and lender closing costs, so to should you shop for the best escrow fees. Many buyers believe escrow fees are set by law and so they do … Continue reading →
When you sit down for your closing, whether it is at a title company, an escrow office, an attorney’s office, or any other location, you will be asked to sign a number of documents. Among those documents will be your … Continue reading →
At close of escrow, certain expenses will be pro-rated, giving the Buyer and Seller any credits they may be due or paying any unpaid expenses owing from either party. The pro-ration of these expenses divides up the expense fairly between … Continue reading →
When you give your deposit to the real estate agent and the signed sales agreement has been signed by both the buyer and the seller, the agent may then “open” escrow. If there is no real estate agent involved in … Continue reading →
You may have noticed that loan and escrow services are now being offered over the internet. Can these services help you and should you rely on them? Closing agents and lenders are offering approvals and closings with lightening speed, often … Continue reading →
Prior to the actual closing day, there are several things you should 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 … Continue reading →
Your deed is considered complete once it has been signed, sealed and delivered. Recording the deed is not required by law in order for the transfer from the seller to the buyer to take place. However, in order for you … Continue reading →
It may happen that you or your spouse must be out of town at the time of your escrow closing. Perhaps you suddenly have to go out of the country and you may be worried how you are going to … Continue reading →
Many buyers wonder when they actually can move into their new home. They wonder when possession actually takes place. Most buyers take possession of their home the day of closing. The keys and other security devices are handed from the … Continue reading →
You may be wondering what happens with the rental income and security deposits on a rental property that you will be buying. How do you get credit for these income items and how are they handled in the final escrow … Continue reading →
Title insurance is a one-time premium paid to a title company that guarantees that you own a particular piece of property and guarantees that no one else has a claim to that property. You can’t tell by looking at a … Continue reading →