Have you ever been to a specialty store, say a vitamin store, and found the person helping you saying, “I don’t take vitamins”? This doesn’t seem likely and if it did happen, you’d probably prefer to talk with a person who had actually taken the vitamins, knew the effect of the vitamins and could [...]
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May 18th, 2011
May 18th, 2011 | Tags: Buying real estate, Refinance, residential | Category: Escrow | Leave a comment |
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May 16th, 2011
The following is a case of fraud taken from our Fraud Insights newsletter for May. Careless Whispers An escrow officer with Chicago Title’s Skokie, Ill. office, was conducting a signing without the buyer or seller in the room. To set the stage, the signing ceremony was being conducted with both the buyer and seller’s [...] May 16th, 2011 | Tags: Buying real estate, closing process, Fraud, Real estate agents, residential, Short Sale | Category: Brokers-Agents, Escrow, Fraud | Leave a comment |
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September 26th, 2010
Watch out for this one gang. As we see more short sales, this addendum may cause us all some headaches unless we understand it clearly. In the past, people have sold their homes, gotten their cash, paid their bills and moved on. Now, in the event of a short sale, there isn’t [...] September 26th, 2010 | Tags: Buying real estate, closing process, Real estate agents, Short Sale | Category: Brokers-Agents, Escrow, Short Sales | Leave a comment |
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August 9th, 2010
Short sales comprise around 30% of the closings we see in our office and there doesn’t appear to be an end in sight! In talking with agents, I find they either want to know everything about them or want to avoid them like the plague. If you are considering dipping your spoon in the short [...] August 9th, 2010 | Tags: Foreclosure, Real estate agents, Short Sale | Category: Brokers-Agents, Escrow, Short Sales | Leave a comment |
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June 29th, 2010
Recently, I was reminded that closing customs & practices can vary tremendously from state to state. While I was reviewing closing documents with buyers relocating from New York, they expressed concerned about signing an “estimated” HUD, and asked when they had to come back in to sign the “final” documents. This couple told me when they [...] June 29th, 2010 | Tags: Buying real estate, closing process, HUD | Category: Escrow | One comment |
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June 17th, 2010
Now that we have all been using the new 2010 HUD for the past few months and are trying to get more comfortable with it, I thought I’d post this FAQ sheet to answer some more questions. This FAQ is designed to make it easier to read the 2010 HUD for transactions in the State of [...] June 17th, 2010 | Tags: closing process, GFE, HUD, Real estate agents | Category: Brokers-Agents, Escrow | Leave a comment |
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April 30th, 2010
How do you really feel about the 2010 HUD? Have you looked at the 2010 HUD and said to yourself “My commission’s missing” or “This isn’t the total of my lender/mortgage broker fees”? Don’t worry, that’s the way it’s supposed to look. The 2010 HUD is no longer a simple detailed list of anyone’s fees. [...] April 30th, 2010 | Tags: closing process, GFE, HUD, Real estate agents | Category: Brokers-Agents, Escrow | Leave a comment |
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February 11th, 2010
Are You Old Enough to Buy Real Estate in Washington? One of the recent real estate trends we’ve seen in escrow at Chicago Title-Seattle, are the increasing number of foreign buyers purchasing property here in Washington. There have been numerous foreign investors who have come to the United States to take advantage of the great deals [...] February 11th, 2010 | Tags: Buying real estate, closing process, Foreign investors | Category: Escrow | Leave a comment |
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February 2nd, 2010
The cost to refinance a current mortgage can vary according to the interest rate, credit score, lender and loan amount. Homeowners who can make lenders compete for their business are more likely to obtain a better mortgage deal. The closing cost of a home refinance generally includes credit report fees, appraisal fees, points (which is an [...] February 2nd, 2010 | Tags: rates, Refinance, residential | Category: Escrow | Leave a comment |
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January 19th, 2010
I was thinking about title and escrow and how baffling it must seem to a typical buyer or seller. Really, when you think of it, it is this strange place with strange people where one signs strange documents and a normal person (probably not strange) must leave after they sign documents and just “hope” they [...] January 19th, 2010 | Tags: closing process | Category: Escrow, Title | 2 comments |
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