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.
Primary Versus Secondary Mortgage Market
June 30, 2020
In this article, we discuss the differences between the primary and secondary mortgage market. The primary market is where loans are created between a lender and borrower, and the secondary are made between the lender and larger organizations.
Financing Options: Discount Points and Contract for Deed
June 30, 2020
In this article, we quickly discuss two financing options in real estate. Discount Points and Contract for Deed are two ways a buyer could finance a home.