Closing is the final step in transferring ownership of a real estate property from real estate seller to real estate buyer. Some states require a lawyer to be present at a closing. Closing costs can include the cost of the land survey, broker’s fees, taxes, attorney’s fees, utility fees, homeowners association fees and inspection fees. The fees can vary depending on the contract, the location, and the time of the month the closing occurs. Get more information here about real estate closing transactions.
Real Estate Closings and Remote Online Notarization in 2020
Real estate closings and remote online notarization in 2020. How real estate professionals are finalizing closings during the COVID-19 pandemic. As a follow up to a recent story on online notaries and remote online notarization, we received several letters and have some more information for our readers. Comment: I understand the need for online notaries. [...]
Real Estate Closings and COVID-19
Real estate closings and COVID-19. Electronic signatures and remote online notaries could assist with closings during the coronavirus pandemic if the system adapts. Q: I’m in the process of closing on the sale of a home. I was able to do all the document review electronically, but as the settlement approaches (in a few days), [...]
Is My Real Estate Agent Doing a Good Job?
Is my real estate agent doing a good job? This reader feels like their agent didn't fully explain the process of selling their home and all their options. Q: I sold my dad’s house late last year and feel like I was taken advantage of by my agent and my real estate attorney, who was [...]
When the Seller Won’t Leave Your New Home, What Can You Do?
What can you do when the seller won’t leave the new home that you’ve already closed on? First, take a look at the closing documents, then call your lawyer. Q: We just closed on a house but the sellers have not vacated the property on our agreed terms. They were supposed to be completely out [...]
Will This Old Mortgage Derail Their Home Sale?
Old mortgages that have not been properly discharged might derail a home sale. What steps can they take to have the lender recognize the mortgage has been discharged? Q: I’m trying to sell my home and recently found out there is an old mortgage on the property from 20 years ago. The loan was never [...]
Is a Home Seller on the Line for Fulfilling Inspector Recommendations?
Is a home seller on the line for fulfilling inspector recommendations? They just might be if they really want the sale to go through. Q: My agent is insisting that I hire a licensed, bonded contractor to pump water from my crawl space. The inspector "recommends" this. I didn't have a license bonded contractor do [...]
At Closing, Include Another Home Inspection
When you buy a home you and a home inspector should do a final walkthrough before closing. While you may have had another home inspection along the way, the preclosing home inspection is important because by that point the sellers should have moved out of the home. You'll look for different things depending on whether you're buying new construction or an existing home.
Listen To September 7 Ilyce Glink Show
Ilyce's most recent Sunday show is now available on ThinkGlink.com: https://www.thinkglink.com/radio.asp Ilyce discussed the Federal Government's takeo...
Ilyce Glink on WSB Radio – September 7, 2008
Today on the Ilyce Glink Show, Ilyce discussed the Federal Government's takeover of secondary mortgage market giants Fannie Mae and Freddie Mac. She took calls from listeners like Cathy, who are wondering if the takeover will have an impact on their house closings in the coming weeks. Ilyce's answer: No. She said the takeover should help get the mortgage market moving again as international investors regain confidence in the U.S. mortgage market. Ilyce also took calls from Bob about how he should put money away for his grandchild (who would be the first person in the family to go to college), and from Chris, a real estate broker for 30 years who is incensed about what has happened to the real estate market and Fannie Mae and Freddie Mac. She also answered questions about how to encourage an ex-spouse to refinance a loan after a divorce, whether you should stay in the stock market if you're in retirement, and other investment questions. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
Closing Costs Increase Nationwide
Average closing costs increased to $3,118 in 2008 from $2,736 to 2007. That's a 14 percent rise, according to Bankrate.com. Which state has the highe...