escrow: The Life of an Escrow
- 10/14/10 05:12 AM
It all begins with the offer and acceptance skillfully negotiated by the real estate agents representing Buyer and Seller. The Buyer(s) Tenders a written offer to purchase (or accepts the Seller's counter-offer) accompanied by a good faith deposit amount. Approves and signs the escrow instructions and other related instruments required to complete the transaction. Approve the preliminary report or title commitment and any property disclosure or inspection report required in the purchase and sale agreement. Approves and signs new loan documents and fulfills any remaining conditions contained in the contract, lender's instructions and/or the escrow instructions. Deposit funds necessary to close … (0 comments)
escrow: The Preliminary Report
- 10/14/10 05:08 AM
The Preliminary Report is an offer to issue a policy of title insurance covering a particular estate or interest in land subject to stated exceptions. Since these exceptions may point to potential problems with your intended purchase, it is important for all parties to review the report once it is received. A Preliminary Report provides a list of the matters which will be shown as exceptions to coverage in a designated policy or policies of title insurance, if issued currently, covering a particular estate or interest in land. It is designed to provide an interim, or "preliminary" response to an application … (1 comments)
escrow: Steps in the title process
- 10/14/10 05:07 AM
Initial Request for Title InsuranceAn order for title insurance is opened with a title officer who produces the initial response promptly within 24 to 48 hours. A preliminary report can be issued with the minimum of information; without even identifying the buyer or the terms of the sale. It shows the record title as it presently exists and is only an offer to provide insurance. To order a preliminary report contact your local Fidelity National Title representative or office. On-Site Searching and ExaminingYour title officer performs three searches: Property, Name, and Tax searches. From that information, a preliminary report is created. … (0 comments)
escrow: What is Title Insurance?
- 10/14/10 04:52 AM
A Word About Real Estate Real estate has traditionally been a family's most valuable asset. It is a form of wealth that is protected by many laws. These laws have been enacted to protect one's ownership of real estate and the improvements located on the land. The owner, the owner's family, and the owner's heirs have rights or claims in and to the property that you are buying. Those who may have an interest in or lien upon the property could be governmental bodies, contractors, lenders, judgment creditors, the Internal Revenue Service, or various other individuals or corporations. The real estate … (0 comments)
It all begins with the offer and acceptance skillfully negotiated by the real estate agents representing Buyer and Seller.
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