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.
Debits and Credits in Real Estate
October 23, 2023
Navigate the world of debits and credits in real estate transactions with this comprehensive guide. Learn the significance of debits and credits, their roles in closing statements, and how to ensure smooth transactions. Mastering debits and credits is crucial for real estate professionals and aspiri
Guide Water Rights for Real Estate Exams
October 23, 2023
Discover the intricacies of water rights in real estate with our comprehensive guide. From riparian rights to prior appropriation, gain a solid understanding and prepare confidently for your real estate exams. Check out our resource for practice exams and expert guidance. Start your journey to becom