Title & Escrow

Nov. 23, 2017

Terms to Know for Real Estate

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Amortized Loan: A loan that is paid off - both interest and principal - by regular payments that are equal or nearly equal.

Amendment: A change - to alter, add to, or correct - part of an agreement without changing the idea or essence.

Appraisal: An estimate of value of property resulting from analysis ...

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Posted in Title & Escrow
Nov. 23, 2017

Title Insurance FAQs

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To help you understand how title insurance protects you and your property, here are common questions and answers regarding Title Insurance.

What is Title?

Title is your right to own or use your property. Title also establishes limitations, if any, to those rights.

What is a Title Search?

A title ...

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Posted in Title & Escrow
Nov. 23, 2017

Closing Costs: Who Pays What

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This chart indicates who customarily pays what closing costs. Closing costs are not set in stone and not all listed below apply to every real estate transaction. You and your Realtor should discuss closing costs that relate to your specific transaction.

TYPE OF FINANCING

CASH

FHA

VA

CONV

1. Downpayment ...

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Posted in Title & Escrow
Nov. 23, 2017

Your Guide to Title Insurance

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When a piece of real property is financed, purchased or sold, a record of that transaction is generally filed in public archives. Other events that may affect the ownership of a property are also documented and filed. These may include liens, levies, encumbrances, etc. When a Buyer purchases title insurance ...

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Posted in Title & Escrow
Nov. 23, 2017

Your Guide to Escrow

Understanding the Escrow Process

Escrow is a process where the Buyer and Seller create instructions and deposit documents and funds with a, neutral, third party until the instructions are fulfilled. In a real estate transaction, these instructions relate to the sale of a property. The Buyer doesn't pay a Seller directly for the property. The ...

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Posted in Title & Escrow