Mortgage settlement is also referred to as closing. It is when the home buyer, seller, title services company representative, and lender meet to change hands of the property and funds legally. There are also many fees that are associated with closing known as closing costs. What exactly these fees are and who is expected to […]
Title Escrow & Title Closing: The Basics
The Appraisal Once you have made an offer on the house and have paid an earnest money deposit, the next step is going to be shopping for a mortgage lender through the title escrow process. When you’re applying for a mortgage, the lender is going to order an appraisal on the property. This appraisal is […]
What Every Realtor Should Know About Owner’s Title Insurance
Buying a home is an important financial decision. During the purchasing process, many new home buyers have a flood of questions running through their minds like, “Am I choosing the right house?”, “ What other expenses should I be considering?”, “ What types of Insurance coverages do I need?” Owner’s title insurance is a step […]
The Role Of A Title Insurance Underwriter
An underwriter is someone that authorizes its agents to write title insurance policies. They are the ones who assume the financial risk and ensure the property against insurable defects. If any undiscovered legal issues ever arise, a title insurance underwriter will defend the power of the title policy. What Title Insurance Writers Look For Errors […]
What Is a Mechanic’s Lien?
A mechanic’s lien is a legal claim against a property that has been remodeled or improved. Mechanic’s liens are legal documents that reserve the rights of the filer to seek unpaid compensation. Typically, mechanics liens are usually filed by contractors, subcontractors, or suppliers if they have never received payment for the work they performed or […]