When it comes to opening escrow on a home, there are a lot of moving parts! A question that we get asked a lot about are impound accounts, so we wanted to take this opportunity to explain them in more detail. If you aren’t sure...
As a home buyer or seller, an Escrow Officer is someone you may not have direct contact with during the home buying or selling process. Unlike your real estate agent or broker, who you speak to and see on a more regular basis, the Escrow...
It is actually quite common that you may be asked to pay down some of your debt during the escrow process. It may be a car, or credit cards, or other personal loans. Don’t consider this a bad thing! In a way, it’s a lot...
The process of buying or selling a home can be an exhilarating time! For both buyers and sellers, the journey is full of various emotions and plenty of twists and turns. It’s no surprise given how many nuances, steps are involved, and people who play...
Changes to Federal Housing Administration (FHA) financing may mean that the doors are opening for more entry-level buyers. These new condominium rules could also mean an uptick in available homes to help meet buyer demand. The Department of Housing and Urban Development has revised its condo...
The job of an escrow officer is complex, as there are many moving parts throughout a real estate transaction. But one of the more straightforward aspects of the role is calculating the amount of property tax that is due from the buyer and seller. While...
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...
Everyone loves a deal or a discount, but there is that old saying, “You get what you pay for.” This is absolutely true when it comes to escrow, and when you consider that buying a home is one of your largest investments, it pays to...
When purchasing a home, the amount of paperwork can be overwhelming. There are documents for almost every possibility in the home buying process, including the “Notice of Right to Cancel” that pops up during the escrow process. But what is this document and what does...
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...