Often when people hear the term ‘title binder,’ they picture a three-ring binder filled with copious amounts of paperwork. This term is often confusing for both home buyers and sellers, in that many believe it is a place to keep notes that are related to...
Let’s take a closer look at escrow fees charged for both Buyers and Sellers, that generally appear on the closing statement with other related closing costs such as loan fees, commission, required repairs, disclosure costs, title fees, taxes, and payoffs. Requesting an estimated closing statement from...
Frequently Asked Question: What is a supplemental tax bill, and why did I receive it? The County Treasurer/Tax Collector issues a supplemental tax bill when the assessed value of changes. The three most common events that trigger a supplemental tax bill are: Change of Ownership Death...
To open escrow, the “terms of sale” will need to be negotiated and supplied directly from the buyer and seller before the escrow instructions are prepared for signing. As a neutral third-party, escrow holder ensures the conditions of the contract are met before title is...
As a borrower, there is a substantial amount of paperwork to keep track of when refinancing. The “Notice of the Right to Cancel Escrow” is part of the final loan document package, and it is sometimes referred to as the “3-Day Notice of Cancellation” or...
This document, included in the seller's opening package, requests that the seller swears under penalty of perjury that they are “not a non-resident alien for purposes of United States income taxation.” A Seller unable to complete this affidavit may be subject to withholding up to...
The Statement of Information Form is just one of the many documents you’ll come across when buying or selling a home. So, today, we wanted to shed some light on this topic by sharing some valuable information about this particular form. What Is the Statement of...
This is a question that comes up quite a bit when buyers are purchasing a home. In a separate blog post, we discussed what the Escrow Impound Account is and why it may be beneficial (or required) for a buyer. But we did not discuss...
When it comes to opening escrow on a home, there are a lot of moving parts! A question that we get asked a lot about are impound accounts, so we wanted to take this opportunity to explain them in more detail. If you aren’t sure...
As a home buyer or seller, an Escrow Officer is someone you may not have direct contact with during the home buying or selling process. Unlike your real estate agent or broker, who you speak to and see on a more regular basis, the Escrow...