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1. Open House: How to Make the Most of the Visit
2. Step-by-Step Closing for the Buyer and Seller
3. Ten Common Mistakes People Make When Buying a Home
4. Ten No-No’s for the Home Buyer
5. Ten Tips for the First-Time Home Buyer
6. The Basics of Buying a Home
7. The Fixer-Upper How Much Work is Too Much
8. Title Insurance: Do You Need It? What is It
9. Ways to Make the Most of Your House Hunting Trip
10. Buying a Million Dollar or More Home
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Excerpt From "Step-by-Step Closing: For the Buyer and Seller"
As the buyer or seller, you must appear at a meeting where all the final legal details of a real estate transaction will be handled; this is known as the closing. Others in attendance will be the realtor, lender, and closing agent. The meeting usually occurs at an agent's office or a lending institution, such as a bank or mortgage company.
The main emphasis is to review all the paperwork, sign different forms for financing, and transfer the tithe to the new owner. Knowing what to expect from the buyer and seller can ease concerns about the closing process. Typically the buyer will have more of a role in closing on a house. However, the seller will have an important role to play too.
Usually, a review of the settlement sheet is presented first for both to sign and agree upon. Before you sign, you will need to be sure about the terms and agreements.
Next, the buyer will be required to show proof of required mortgage insurance and that all necessary inspections have been completed according to the guidelines of the contract. All parties must completely agree on the terms and sign the documents.
Once this phase is completed, both parties will present a certified check for the closing costs. The lender will present the funds paid to the closing agent; also, if there are any funds due, they will be submitted at that time to the lending agent.
Just so you know – issues specific to your transaction will be handled at the closing meeting. For example, your bank or mortgage company may have stipulated that you need to set up an escrow account to pay your property taxes or your home insurance provider when the expenses become due. If so, it will be taken care of at the closing.
Other issues, such as the recording of the deed, will be discussed. Don't be surprised if you are informed that you only have a legal claim to the property once it is officially recorded at your local courthouse.
[NO] Can sell
[NO] Can be given away
[NO] Can sell Resale Rights
[NO] Can sell Private Label Rights
[NO] Can sell Master Resale Rights
[NO] Can be offered through auction sites
[NO] Can be submitted to article directories
[NO] Can be added to paid membership sites
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