Real estate transactions are filled with many potential pitfalls for buyers, sellers and lenders, and that is why there are so many catch-alls in-place to safeguard these transactions. You have likely heard the word “contingency” come up during the buying or selling process, but what...
What is the difference between “Assumption” and “Subject To” when it comes to loans? For buyers navigating the escrow process, it’s important to make the distinction. Here, we will look at the general differences between each of these and how their differences impact escrow. When talking...
There is no shortage of paperwork during the escrow process, and we understand this can be a bit overwhelming, especially for first time home buyers or sellers. To help, we wanted to share with you some information about the Statement of Information - what it...
Check out our latest video to help people understand what goes on in an escrow! ...
The language of escrow and the real estate transaction doesn't need to be a stumbling block; once you know the terms, these words become what they are meant to be - valuable tools to help smooth the road to a successful transaction. Contingency This is a clause...
Understanding contingencies is important when you are considering making an offer on a property. A contingency is a condition in the Purchase Agreement that allows the buyer(s) to remove themselves from the contract with their deposit refunded if certain conditions are not met after their...
If you are in the process of purchasing or selling your first home, the escrow process is something that might come across a foreign territory to you. It is definitely understandable, as the terminology and steps involved are often extremely detailed oriented and must be...
With the increased amount of foreclosures on the market today, escrow officers are often asked about the foreclosure process. The first thing to know is the foreclosure terminology, which we discussed in a prior post. What is important for homebuyers and sellers to understand is...
When purchasing a home the escrow process can appear to be complex, especially for a first time home buyer. Following is an overview of the escrow process from the buyers perspective: Escrow is officially "open" once the Escrow Holder receives a purchase contract signed by both...
Short sales and foreclosures are the current hot topic in real estate with many of these types of transactions coming across the Escrow Officers desk. Foreclosures and short sales are often confused but they are two distinct processes supported by their own individual terminology....