Search Powered by:
Tag: closing
What is escrow’s role when agent & loan officer are present at difficult signing
In light of all the mortgage turmoil going on in the sub-prime arena I thought that it may be meaningful to address the awkward situation when a borrower is showing clear signs of “discomfort” with the loan terms presented by the escrow staff during a signing.
I believe that giving real and true versions of what [...]
Posted: August 13th, 2007 under General Real Estate.
Tags: closing, escrow, ethics, Legacy-Escrow-Service, sub-prime
Comments: 27
Joe Buyer and the Lending Treehouse of Horrors: Part 2
Last week, I began telling you the tale of Joe Buyer who found his low interest rate on the internet and was having second thoughts when the loan approval was appearing elusive. This story resumes in the second week of June…the week his purchase was scheduled to close.
The last time Joe and I had touched [...]
Posted: July 9th, 2007 under Buyer Information, General Real Estate, Mortgage and Lending.
Tags: closing, internet-lender, LendingTree, purchase, referral, stated-income
Comments: 20
Escrow agents and how they protect themselves
When you choose an escrow company (or “closing agent,” the person who does the work necessary to close the transaction), you look for several qualities: competence, service, location, etc. One factor you probably don’t consider is whether the escrow company is willing to be responsible for its own significant errors.
When escrow is opened, [...]
Posted: December 7th, 2006 under General Real Estate.
Tags: agent, closing, errors, escrow, legal, real-estate, transaction
Comments: 7
Good Folk and Old Fashioned Values
Last night, my dream came true.
“If” the beginning of every residential real estate transaction were the buyers and the sellers and their agents meeting and chatting, maybe having dinner together and a drink or two for an hour. Then everyone walks through the house together while the seller tells the buyer the story of [...]
Posted: July 29th, 2006 under General Real Estate.
Tags: closing, listing, real-estate, sale, transaction, values
Comments: 10
The “HOME” Stretch
The final days preceding the actual closing date are often the most confusing part of the home buying process. 9 out of 10 buyers and sellers think that something actually happens that involves them, on the closing date shown in their Purchase and Sale Agreement. I am often asked by clients “Should [...]
Posted: July 20th, 2006 under General Real Estate.
Tags: closing, homes, houses, real-estate
Comments: 1
New Construction Closing Dates
Further to this string of three posts, I think we need to talk about new construction closing dates. I received a call about ten days ago from a former client whose brother was pulling his hair out regarding a new construction purchase. He was TOLD that the home would be ready in July [...]
Posted: June 3rd, 2006 under General Real Estate.
Tags: Buyer-Information, buyers, buying, closing, new-construction, real-estate
Comments: 10
When to schedule a closing…
Dan Green of the Mortgage Reports asks “When was the last time you had 20 people involved in anything and it went perfectly smooth?”
His conclusion:
Never schedule a purchase money closing for a Friday or the last day of the month — especially in the afternoon, and especially in the summer.
Posted: May 28th, 2006 under General Real Estate.
Tags: closing, Mortgage and Lending, real-estate
Comments: 4
