Statements of Information
What’s in a name?
When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”
Statements of Information provide title companies with the inf...
Posts Tagged ‘Resources’
Considering Offers
When reading an offer, keep in mind that you are out to get the best price AND the best terms for you. If you focus solely on the price, you may overlook terms that could be favorable to you as a seller.
Some terms that may work in your favo...
Understanding Preliminary Reports
After months of searching, you’ve finally found it -- your perfect dream home. But is it perfect?
Will you be purchasing more than just a beautiful home? Will you also be acquiring liens placed on the property by prior owners? Have documen...
Importance of Inspection
As a buyer, you are entitled to know exactly what you are getting. Don’t take anything for granted, not even what you see or what the seller or listing agent tell you. A professional home inspection is something you MUST do, whether you are b...
Common Ways of Holding Title
How Should I Take Ownership of the Property I am Buying?
Real property can be incredibly valuable and the question of how parties can take ownership of their property is important. The form of ownership taken -- the vesting of title -- will ...
What is a Short Sale Anyway?
An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale?
A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the...
Required Reporting to the I.R.S.
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service.
This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and a...
The Functions of an Escrow
Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure a...