Closing Process
What do sellers and buyers need to know about closing day?
Closing day is the final stage of a property sale, officially transferring ownership from the seller to the buyer. Here are some important things that both sellers and buyers of real estate need to know about the closing day: For Sellers: Prepare for the final walkthrough: The buyer will typically conduct a final walkthrough of…
Read MoreWhy Title Insurance is Beneficial to Homeowners
How is Title Insurance Beneficial to Homeowners? Most real estate transactions go smoothly, but there’s always the risk that some unforeseen happenstance will occur due to errors in the public record, ownership claims, fraud, etc. This is why working with a title company for homeowners title insurance is always a good idea. Here are just…
Read MoreHow does the Truth In Lending Act affect consumers?
Congress passed legislation that outlines requirements to protect mortgagors from destructive loaning practices in 1968. This legal mandate is named the Truth in Lending Act (TILA). Besides, TILA protects individuals from dishonest financial providers who want to take advantage of the consumer. A Deep Dive into Truth in Lending Act The Office of Comptroller of…
Read MoreWhat’s the Process for Closing on Commercial Properties?
Typically the closing process for commercial properties is much longer than residential closing. For example, a residential mortgage closing may take as long as 30-60 days from the contract to close. Commercial transactions take additional time because of the more essential details. For example, the property owner buys an existing commercial property to expand their…
Read MoreWhen will the title agent provide you with a deed?
At closing, we, as title agents, will provide you with the executed deed so that you may verify vesting. Still, the title agent will ask for it back. The initially submitted deed is to the county your property resides for recording. When the county has recorded the deed into public records, the title agent will…
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