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For example, a lender advertising a home loan might have advertised the loan with a 5% interest rate, but then when one applies for the loan one is told that one must use the lender's affiliated title insurance company and pay $5,000 for the service, whereas the normal rate is $1,000. The title company would then have paid $4,000 to the lender.
A typical real estate contract specifies a date by which the closing must occur. The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or ...
the successful negotiation of a purchase contract between a satisfactory buyer and seller and the subsequent ability and willingness of the buyer to close the deal, or finding a satisfactory buyer who is ready, willing, and able to pay the full listing price (or more) for the real estate for sale without any contingencies.
Close Escrow Finally, you will fund your down payment, the bank will fund the mortgage loan , escrow and title will prepare all documents, properly account for all the funds, then go record your ...
People use the escrow process in the international trade, stock market and, most commonly, real estate arenas. Prospective homeowners go through the escrow process when they close on the sale of a...
The HUD-1 Settlement Statement is a standardized mortgage lending form in use in the United States of America on which creditors or their closing agents itemize all charges imposed on buyers and sellers in consumer credit mortgage transactions. The HUD-1 (or a similar variant called the HUD-1A) is used primarily for reverse mortgages and ...
Emergency aid doctrine is an exception to the Fourth Amendment, allowing warrantless entry to premises if exigent circumstances make it necessary. [8] A number of exceptions are classified under the general heading of criminal enforcement: where evidence of a suspected crime is in danger of being lost; where the police officers are in hot pursuit; where there is a probability that a suspect ...
‘Clear title’ meaning A clear title, also known as a “clean title,” is a property title that is free from liens or additional issues that could jeopardize ownership, such as boundary ...