In these tough economic times, many homes have been languishing on the market, making it difficult for Sellers to move on to other homes and locations. In order to make a sale, a Seller can offer to do a “carryback”. A carryback loan, also known...
If you are either in the process of buying or selling a foreclosure property, understanding the basic terms will help you ask appropriate questions of your REALTOR, the escrow officer, the lender or other parties involved in the transaction. This can expedite the timeframe of...
This is the second article (see the first one here) in our series on the specific terms and phrases you can encounter during a real estate transaction. The language of escrow and the real estate transaction doesn't need to be a stumbling block; once you...
One of an escrow officer's simpler jobs is calculating the amount of property tax that is payable by the buyer and the seller on any given real estate transaction. One of the agent's tougher jobs can be explaining to the buyer why they may get...
Real estate transactions, and the escrow processes that make then happen, sometimes have a level of industry jargon that can be confusing or intimidating to buyers and sellers who aren't familiar with the meaning behind the words. This is the first in a series of definitional...
Closing fees are a prickly part of any real estate deal. This is where everybody involved in the sale and transfer - lenders, lawyers, government agencies, and the escrow company - add their numbers to the bottom line. Perhaps the worst thing about closing fees...
The typical real estate escrow requires the buyer to sign 70 - 120 pages of documents, several of which require notarization. The seller also will have to notarize, at the minimum, the grant deed. Notarization, or the act of an uninvolved witness (the Notary) verifying...
A probate sale is defined as the sale of a property where the owner is deceased and the sale is being conduced by the deceased estate. An Administrator or Executor signs on behalf of the deceased person with either full or limited authority. Sometimes the...
There are many implications of loans that are either "Assumptive," or "Subject To." Here is a general overview of some of the definitional differences between the two and how the differences affect the escrow process. Let's define Assumption Loans: The term "assumption" is used when a buyer...
Demystifying the escrow process for buyers is part of our goal here at CV Escrow. One of the ways we accomplish this is by providing buyer's a detailed opening package. This package contains a particular form called a Vesting Form that is integral to the...