Guide To Closing Your Home Sale
If you’re thinking about selling your home, you’ve probably got more than a few questions. How long does it take? What am I responsible for? When will I get the money?
Because there’s a lot that goes into a home sale, we’ve rounded up the answers to some of the most common questions sellers ask, to prepare you for what to expect.
Licensing: Complaints and Violations Re: Realtors and Loan Officers
Power point presentation from The Division of Financial Institutions and Real Estate & Professional Licensing for the State of Ohio discussing licensing, complaints and violations pertaining to both realtors and loan officers.
Click here to view the power point
Overcoming Owner’s Policy Objections
When TRID requirements go into effect, lenders will begin issuing a new Closing Disclosure to homebuyers. This new form will list the Owner’s Policy of title insurance as an “optional” purchase. While owner’s title insurance has never been required, this “optional” language could spur questions regarding the value of title insurance. Below are some of the more common “objections” to the purchase of an Owner’s Policy.
Guide to Understanding TRID Forms
Learn more about the Loan Estimate, Closing Disclosure and Settlement Statement. This book includes details such as tolerance/variance levels, forms changes based on loan options, and explanations for common questions about the TILA-RESPA Integrated Disclosures.
A Real Estate Agent’s Reference Guide To Prepare For TRID Implementation
WHAT
Changes to the Loan and Settlement Disclosure forms and processes are coming.
WHEN
The changes will be effective for transactions where a loan application is taken by a lender on or after August 1, 2015. WHY
Because the Dodd-Frank Act of 2010 mandates the combination of the Truth in Lending Act (TILA) loan disclosures with the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate and HUD-1 Settlement Statement disclosures.
Realtors – Basics of the Integrated Mortgage Disclosures Rule
WHAT
Changes to the Loan and Settlement Disclosure forms and processes are coming.
WHEN
The changes will be effective for transactions where a loan application is taken by a lender on or after August 1, 2015. WHY
Because the Dodd-Frank Act of 2010 mandates the combination of the Truth in Lending Act (TILA) loan disclosures with the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate and HUD-1 Settlement Statement disclosures.
Paying Taxes: Double Check Before Writing The Check — North American Title Insurance Company
Researching tax assessment data, determining the correct amount of any current or delinquent taxes due, and confirming the payment of ad valorem and other taxes on property involved in a sale or refinance transaction is an integral part of the closing process. How to obtain this information reliably and expeditiously from the taxing authorities often can be a challenge, but must be undertaken with care and patience. Calculating and pro-rating the proper amount of taxes payable by the seller and the buyer is equally crucial. Either way, simple mistakes in calculating or failing to pay the proper amount of taxes at closing can expose the new owner to threatened foreclosure and loss of title.