Real Estate Settlement Procedures
September 18, 2019
How Do Real Estate Settlement Procedures Work?
Let's now discuss the settlement procedures or the closing of a real estate transaction. First off, who needs to be at closing? Typically, we need the seller there, and we also need the buyer to show up and we need a closing agent. A closing agent can be one of a lot of different people or organizations. The closing agent could be a brokerage company, or an attorney, or it could be a title company. These are various entities that can serve as a closing agent. At closing, we will have the final closing statement, which lists all of the final closing costs for both the seller and the buyer. Remember on closing statements, if we debit a person on the closing statement, that means a person owes the money. Likewise, if we credit a person on the closing statement, that means the person is receiving the money.
Types of Notes and Loans
May 5, 2020
In this article, we discuss the different types of notes and loans, while looking at loan eligibility and PMI. You'll also learn how interest, payments and adjustable rates work in the different types of loans.
Types of Mortgages or Trust Deeds
May 5, 2020
We discuss the differences in trust deeds and mortgages in this article. We'll also explain the different provisions of security clauses while showing the difference between "subject to" and assumption of a loan.