homebuyers: How much $$$ do I need to close? There's an app for that - 05/21/13 01:32 AM
Have you ever been showing a house to a homebuyer and had them ask you what their total closing costs would be? Wouldn't it be great if you could answer that question right on the spot? 
Now there's an iPad app that produces a detailed picture of cash to close and monthly mortgage payments for homebuyers as well as cash in pocket for home sellers. It's available for free download in the App Store.
Download the app now >>
Close It is sort of like Turbo Tax for real estate agents. We've tested the results over and over, and they are … (0 comments)

homebuyers: Homebuyers: Do you know what you are buying? - 09/17/12 05:13 AM
While this would seem to be obvious, purchasers should pay close attention to exactly what they are buying.  I am not referring to inspection issues, I am referring to something that seems obvious, but does occasionally come up as a problem. Here are some real scenarios where an individual bought something that was not exactly what they were expecting.
SCENARIO 1: I bought more land (and headaches) than I thought! Upon review of the survey, the purchasers realized that the property line in the back of the property did not end at the fence, but continued back another 100 feet.  While … (0 comments)

homebuyers: Owner's title insurance: Is it worth the price? - 07/03/12 01:20 AM
While a homebuyer is required to pay for the lender’s title insurance premium, the owner’s title insurance is optional to the homebuyer, and sometimes homebuyers who are looking to shave dollars off their closing costs consider opting out of the owner's title insurance policy.

They may feel having an owner's title insurance policy is not worth the expense.
A lot of misinformation about owner’s title insurance permeates the blogosphere and, in fact, one Washington DC metropolitan area real estate broker regularly advises homebuyers NOT to spend the extra dollars to purchase owner’s title insurance coverage. 
Most of the blog entries … (2 comments)

homebuyers: Standard v. Enhanced Title Insurance: Mechanic's Leins - 11/29/11 06:00 AM
As a homebuyer, you have the choice in the type of owner’s title insurance coverage. Throughout this series of comparing the two types of coverage (Standard Coverage vs. Enhanced Coverage) you have observed that the primary difference relates to matters affecting your title post-policy date and pre-policy date. That is, the standard owner’s title insurance coverage mostly covers only matters that occur prior to the date the policy was issued, whereas, the enhanced owner’s title insurance coverage protects you against matters arising prior to the date of the policy, as well as, matters arising after the date the policy has been … (0 comments)

homebuyers: Standard v. Enhanced Title Insurance: Building Permits - 11/29/11 05:58 AM
So you’ve just completed the purchase and closing on your new “fixer-upper” home. Now it’s time to hire an architect and spend countless hours planning for a new addition to the family room. You submit an application for your building permit. After a few weeks, your permit is denied based on a prior violation of landscaping rules established by the homeowner’s association.
As it turns out, your seller had constructed the $50,000 Arcadia-style garden in your backyard, complete with granite cascade and espalier fruit trees – and in violation of your homeowner’s association rules.
You are now faced with the expensive prospect … (0 comments)

homebuyers: Study: D.C. Metro homebuyers save big by shopping for title services - 02/17/11 06:12 AM
Washington, D.C. (17 February 2011) – SHOPPING FOR TITLE SERVICES in the District of Columbia could save homebuyers up to $1,180, according to a recent study, while shopping in Maryland or Virginia could mean a savings of over $900. "This serves as a reminder to homebuyers and their agents the importance of shopping for a title company," said Todd Ewing, president of Federal Title & Escrow Company.
The study, commissioned by Federal Title and conducted by Veris Consulting from February 1 through February 11 of this year, compared title charges among Washington Metro Area-based title companies, revealing stark differences in charges … (2 comments)

homebuyers: 12 steps to homeownership: Homebuyer timeline - 06/04/10 08:15 AM
Buying a home is an important financial decision that should be considered carefully. Homebuyers must become familiar with the various stages of the home-buying process, including deciding whether it's the right time to buy a home or not and factors to consider in determining how much they can afford to spend. Learning about the sales agreement, how to use a Good Faith Estimate to shop for the best loan optins, required settlement services to close the loan and the HUD-1 Settlement Statement received at closing will increase the odds of a happy transition from renter to homeowner.
Find this graphic, along … (0 comments)

homebuyers: What homebuyers don't know: The cost of ignorance - 06/04/10 08:10 AM
Given that homebuyers are confronted with monumental tasks in the home-buying process, it should be expected that many of the finer details are entrusted to their real estate agent or mortgage lender. After a lengthy home search, contract offers and negotiation, gathering financial information for loan application, and making moving arrangements, the average homebuyer has had their fill. Unfortunately, the choice of a settlement or title company is not high on a homebuyer’s priority list, and the homebuyer often defers to their real estate agent or mortgage lender to make this choice for them. Deferring this choice to others, may be … (0 comments)

homebuyers: Second credit screening could delay closing or kill the deal - 06/04/10 08:03 AM
Want further proof that it's a bad idea to open a new line of credit while trying to buy a house?
Beginning June 1 your lender will likely be pulling a last-minute second credit report immediately before closing. If you've taken out a new loan that's large enough to affect your debt-to-income ratio calculations used in the original mortgage approval, your deal could fall through.
Opening a new line of credit – whether for new furnishings, landscaping, appliances, a new credit card, etc. – is one of the top homebuyer mistakes to avoid.
From the Washington Post:
The June 1 changes … (2 comments)

homebuyers: First-time homebuyer tax credit still on for military personnel - 06/04/10 07:58 AM
While the Federal Tax credit is a thing of the past for most of us, those serving overseas in the U.S. military, the foreign service and the intelligence community may still be able to claim the $8,000 credit.
"Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit," according to the Internal Revenue Service. That means qualifying homebuyers have until April 30, 2011 to enter into a sales contract. If the homebuyer meets that first criterion, he or she then has … (0 comments)

homebuyers: To rent or to own, that is the question - 06/04/10 07:45 AM
The $8,000 federal tax credit for first-time homebuyers expired for most of us a little over a month ago, but mortgage rates continue to hold at historic lows prompting the question: Is it better to rent or own?
The big picture story tells us conditions are prime for buyers, but the truth is on a regional level the story has many versions. To determine if now is the best time for your unique circumstances, take a look at this Rent. vs. Buy Index produced by Trulia, a real estate website.
The index rates the Top 50 markets in the United States … (4 comments)

Todd Ewing (Federal Title & Escrow Company)

Todd Ewing

Washington, DC

More about me…

Federal Title & Escrow Company

Address: 5335 Wisconsin Ave, NW , Suite 700, Washington, DC, 20015

Office: (202) 362-1500

Fax: (202) 362-5901

Email Me

We re-post our articles here that pertain to real estate pros. Find the original articles on the Federal Title & Escrow Company blog.

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