Home Buyers & Sellers: What to expect at settlement (“closing”)

Home Buyers & Sellers: What to expect at settlement ("closing")



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If a person is buying or selling a home, it’s a good idea to understand what is going to happen on the closing day. In the state of Utah we use Title Companies. What most people refer to as “closing” is actually called “settlement” for us. Closing occurs after the buyers loan proceed is transferred to title, they pay off all the debt, convey ownership from the seller to buyer, and record everything with the county. One should come to settlement with a personal ID, plan about an hour of time and be ready to sign one’s name a lot.

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Rise Utah Realty
(801) 921-6771
RiseUtah.com
1177 800 E, Orem, UT 84097

Transcription:
David
Today I want to take you through the closing process. We call that settlement. In Utah. The day of signing your documents whether you’re a buyer or a seller. I want to. I wanted you to see what it was like. To come to a title company. Where we do that. Today I’m at Access Title. I’m going to go on here we’re going to meet Dan Hall, he’s the president of Access Title. He’s going to kind of Show us what he does and what to expect when You come to closing. Hey Dan how are you doing. Good to see you. See you as well. Thanks for meeting with me. I really appreciate it. So I’m here because all my clients want to know what to expect when they come to title. So whether you’re a buyer or a seller could you just Walk us through your office and tell us what to expect.

Dan
So when you come for your closing you’re going to come in through the doors here obviously. Our. Awesome staff over here is going to welcome you to the office and. Ask you if you’d like to have a drink and have you say we’re not quite ready for your closing.

David
Are you talking about alcohol not alcohol?

Dan
OK. So like soda water. Yeah yeah. Caffeinated, no caffeinated they are going to sign a lot of documents. OK I want to make sure you have your energy up and we have sugar in there as well. So we’re ready to go right with the closing which we typically are going to get here so we can or will have. Directly come into our cozy room if not we’ll have to sit out here for a couple minutes while we’re getting documents ready. And then once the documents are ready we welcome you in here from our closing room. You come in here have a seat over here. Have yourself a cold drink.

David
Can I Sit down?

Dan
Yes absolutely. Sit down. David usually sits here and we’ll have you sit right over here across from me. That way you’ll be able to see the documents very easily and I will get you some pens over here and then we’ll get your documents out. Now typically on a selling side. The package is quite small. So this is not the size of the package. That will be signed on seller side. This is the type size of a package that we sign on the buyer side. Can you see a big difference here. Seller side you get money. buyer side you’re paying money. Some more to Sign. Most of these documents are provided by the lender.

David
So have you ever counted. How many signatures they have to do?

Dan
Most lenders to about 45 to 50 signatures.

David
Is that for On a conventional loan?

Dan
On a VA loan that is going to be probably eight more documents and that will be around 58 signatures. Looks like it’s on the sell side. Three percent of the yes sell side you’re going to be eight signatures. That’s done. So good things to have with you when you come to closing is two forms of ID. Most lenders want to have two forms of ID some lenders will only. Need one. Sort of I.D. now I.D. needs to be a driver’s license. Passport. Those two items are. We can notarize or something. We cannot notarize off of is a driving privlige card. That Is provided by the state of Utah. We cannot notarize of that. So we do need to either have there a passport. Or a driver’s license now it doesn’t have to be a U.S. passport it can be country’s. Passport. We can. Authorize. Legitimate passport.

RISE Utah Realty

Home Loan Closing Costs Explained

Home Loan Closing Costs Explained



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When purchasing a home there are many fees and costs associated with the transaction. Common costs are title insurance, escrow fees, lender fees, inspections, appraisal, and pre-paid costs such as taxes, insurance, and HOA. Closing costs and fees may be financed into the loan or paid upfront.

Lender and origination fees are a lender’s cost to complete your home loan financing. These fees cover costs associated with processing, underwriting, and funding your new loan. If there is a cost listed for discount points, this is an extra fee being charged for a lower interest rate.

The Escrow Company will charge a fee for their services. In the purchase contract, it will state who the escrow and title company will be and what portion of the fee is to be paid for by the buyer and seller.

Keep in mind that there will be other miscellaneous fees associated with purchasing a home such as home inspection, appraisal, pest inspection, credit report, document recording, and possibly Condo and Homeowner’s Association (HOA) review.

Before getting into the home buying process, it is important to understand what fees you may be faced with and how to pay for them. Open communication with your agent and lender is the first step to ensure you understand the costs of home ownership.

Pre-paid costs are required home ownership costs that are paid upfront instead of in the future. These may be higher or lower depending on whether you will have an impound account or not. Pre-paid costs may include loan interest, homeowner’s insurance, property taxes, and homeowner’s association dues.

To learn more, make sure to watch all of our home buying academy videos. For any questions about home buying or home financing, you may contact us through our website rwmloans.com or call us at 858-794-2155. We have loan officers and real estate agents available to help you start the process.

RWM Home Loans – rwmloans.com
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RWM Home Loans

Macy’s Closing Final Day Empty Store Midway Mall Elyria Ohio & Press Release Statement

Macy's Closing Final Day Empty Store Midway Mall Elyria Ohio & Press Release Statement



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This is a partial walk-thru on closing day. Macy’s Department Store 1990 – March 26, 2016. Midway Mall in Elyria, OH. 105,000 Sq ft. Canon PowerShot A470. I really liked this store. It had a higher-end feel to it. Very sad to see it go. I had to share what it looked like. Ironically Tears for Fears “Everybody Wants to Rule the World” was on the loudspeaker singing “Nothing ever lasts forever.” They even sold the fixtures. This is about 40 minutes from Cedar Point Sandusky, OH.

PRESS RELEASE STATEMENT

“In light of our disappointing 2015 sales and earnings performance, we are making adjustments to become more efficient and productive in our operation. Moreover, we believe we can operate more effectively with an organization that is flatter and more agile so we can pursue growth and regain market share in our core Macy’s and Bloomingdale’s omnichannel businesses faster and with more intensity.

We will continue to invest in strategic initiatives that anticipate emerging customer needs and create shareholder value. The cost efficiencies represent more than two-thirds of our goal of annual SG&A expense reduction of $500 million, net of growth initiatives from previously planned levels by 2018.

But our eye is on a long-term vision of Macy’s Inc. as a dynamic retailer that serves existing customers and acquires new ones through innovative approaches to the marketplace.

Our company is committed to operating great Macy’s and Bloomingdale’s stores in the best locations – both to serve shoppers who walk through the door and to fulfill orders that are shipped directly to customers around the country. In today’s rapidly evolving retail environment, it is essential that we maintain a portfolio of the right stores in the right places.

So we will continue to add stores selectively while also being disciplined about closing stores that are unproductive or no longer robust shopping destinations because of changes in the local retail shopping landscape.”

– Terry J. Lundgren, chairman and CEO of Macy’s Inc.

amusement420

EASY, FLEXIBLE CLOSING, NO FEES….CASH DEAL!!

EASY, FLEXIBLE CLOSING, NO FEES....CASH DEAL!!



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Local Home Buyers, Inc
Huntsville, Alabama
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Flexible Closing (fast or slow) – Closing will be as soon as you are ready and the title work is completed with Jacob Title

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Local Home Buyers Inc

The Family Dollar Stores Are Closing 370 Locations and Cutting Jobs

The Family Dollar Stores Are Closing 370 Locations and Cutting Jobs



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The Family Dollar Stores are in need of a major turn around a midst declining sales and profits. On Thursday they announced they will cut jobs. Profit declined 35% along with sales of about 4% from the previous quarter. For their lower income shoppers price matters. So to remedy these issues the company is planning to close 370 underperforming stores. They’ll also cut prices on 1,000 basic items, along with slowing down their expansion plans for new stores in 2015.

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TheStreet: Investing Strategies

The Doors Are CLOSING on the Opportunity of a Lifetime!! DON’T WAIT..

The Doors Are CLOSING on the Opportunity of a Lifetime!! DON’T WAIT..



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What Happens After Closing?

What Happens After Closing?



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– After closing a multifamily investment, here’s what you can expect as passive investor.

DJE Texas Management Group

First Things To Do After Closing On A Property

First Things To Do After Closing On A Property



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Have your first property under contract or considering buying a rental property? Congrats! If you plan on self managing, what should you do first? Here are some tips to get you started on the right foot.

Treat It At A Business Not A Hobby
Remember you are running a business, treat it as one. Keeping documentation is key. You can chose to keep paper copies, but also scan and keep electronic files so you can’t physically lose the paperwork. Creating a binder with your mortgage, taxes, water/sewer, and tenant info is a great idea.

Inheriting Tenants/Finding Tenants
If you are inheriting tenants, contact them. Introduce yourself and the new owner and provide your own contact info. Speak about any issues they have about their unit or their plans going forward. Do you know the current rental income for your market? Craigslist and rentometer are two great sources to determine what your units can rent for.

Rent/Security Deposits
How do you plan on collecting rent? Consider creating a separate bank account for rental income. This account can show income coming in as well as expenses paid out of the account. This is extremely important for tax purposes. If you are collecting security deposits, it is best to create a separate interest bearing savings account to hold the deposits. This can be a landlord/tenant account and most banks know how to set this up. Each tenant will sign a w9 form. This is to show the taxes on the interest paid are under the tenant’s social security and not you as the owner/landlord.

Repairs/Maintenance
Do you plan on doing the work yourself or having a handyman to get work done when needed? You can go to home depot and purchase basic tools such as a power drill, screwdriver, hammer, tape measure, ladder etc for minor repairs. For toilets, a toilet auger will save you many headaches! Creating systems for repairs will save you time when you are unsure who to contact when you need to get something done. Preventative maintenance should be done on your properties.

Before you take the keys, make sure you can answer these important questions! Your goal is to make the transition to managing the rental as smooth as possible for you and your tenants.

Playlists
How to Invest in Multifamily:
Buying A House For The First Time:
How To Set Goals And Achieve Them:

Steve Bracero is a Real Estate Agent in Worcester County, Massachusetts and Real Estate Investor. Topics include: Investing in Real Estate, and Helpful Tips on House Hunting and Selling Homes. Towns include: Ashland, Blackstone, Douglas, Franklin, Grafton, Hopkinton, Hopedale, Medway, Milford, Millbury, Northboro, Northbridge, Shrewsbury, Southboro, Sutton, Westboro, Whitinsville, Worcester, Upton and Uxbridge.

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Closing the Door on Mortgage Fraud

Closing the Door on Mortgage Fraud



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c. 2007 – Georgia Association of REALTORS®

GeorgiaREALTORS

Closing Day Is Here, How About The Wire?

Closing Day Is Here, How About The Wire?



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Hi I am Giuseppe Battaglioli from My Denver Home Loan at Hallmark Home Mortgage-Colorado. I am truly passionate about my profession, and the result is that nearly 100% of my business is by referral from satisfied clients, trusted financial advisors and the most experienced Realtors in the Denver area.

My mission is to carefully guide you through the entire home loan process, so that you feel confident about your financing strategy. We specialize in Conventional, FHA,VA, and Jumbo financing, so we can meet your needs!

I understand that it’s not just a house, it’s your home! You only think about home financing a few times during your life ~ I think about it every single day. It’s your home and your future. It’s my profession and my passion. I’m ready to work for your best interest.

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A Conversation with National Security Experts and Closing Remarks

A Conversation with National Security Experts and Closing Remarks



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A Conversation with National Security Experts

* Secretary of State Jim Condos, Vermont, Opening Remarks
* William Evanina, Director of the National Counterintelligence
and Security Center
* Christopher Krebs, Under Secretary for the Department of Homeland Security’s National Protection and Programs Directorate
* EAC Vice Chair Christy McCormick, Moderator

U.S. Election Assistance Commission

Lee Honish Coaching Program: Real Estate LEADS, SCRIPTS & CLOSING

Lee Honish Coaching Program: Real Estate LEADS, SCRIPTS & CLOSING



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1 year of coaching with REAL TIME explanations to get ahead in the market for $297

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Seller Side Only Hud | Closing a Wholesale Deal | Wholesale Real Estate | Closing Wholesale Deals

Seller Side Only Hud | Closing a Wholesale Deal | Wholesale Real Estate  | Closing Wholesale Deals



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Please watch: “HGTV Demo:Women Real Estate Investors: Neva Williamson:HGTV Youtube:HGTV Flip or Flop”

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I recently received a question from one of my subscribers, and he asked where the wholesale fee can be found on the settlement statement or HUD-1. In this video, I will answer that question along with samples from real transactions.

Entrepreneurs start your own real estate investing business in less than 30 days? Download my FREE e-book now –

Subscribe to my channel click the following link

Business inquiries contact me at [email protected]

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FAQ:
Do you provide one on one mentoring? Unfortunately, not at this time. However post your questions on the channel and I will answer. I will also add them in my list of topics to discuss when creating videos.

I’ve read real estate investing books and now I don’t know where to start?
I recommend completing Steph’s Davis Quick Flip Ninja program to get started. She walks you through the process step-by-step and also provides the contracts you need to get started. The price she charges can’t be beat. You can get it here

Once I find a deal how do I find cash buyers?
Visit your local Real Estate Investing Association. You can usually find cash buyers at the meetings. You can find your local REIA here

If you prefer to find cash buyers online I recommend purchasing Steph Davis Cash Buyer Ninja. You can get it here

How do you find real estate leads?
I mostly cold call property owners, mail postcards and generate leads through my website.
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Closing on a House – Home Buying 101

Closing on a House - Home Buying 101



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What happens after your offer is accepted and you begin closing on a house? Learn the basics of escrow or the closing process, so you know what to expect after you find a home to buy, submit an offer and come to agreeable terms between you and the seller. See more home buying tips and real estate advice:

#HomeBuying101

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Learn More about the home buying process: “Home Buying 101: How Do I Get Started?”

-~-~~-~~~-~~-~-
#realtor #realestate

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Lenders Are Pulling Your Credit The Day Before Closing in Birmingham Alabama

Lenders Are Pulling Your Credit The Day Before Closing in Birmingham Alabama



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Collier Swecker video blogs about Fannie Mae’s (and undoubtedly most other loan programs) decision to require Lenders who are originating mortgages that will be sold to Fannie Mae to pull a credit report on the borrowers immediately before closing. This is was an understandable decision for Fannie Mae because many borrowers who get a finalized sales contract on a home and get a loan approval for the purchase, get so excited that they run out and buy furniture and other furnishings and do so by opening new lines of credit at various stores. This causes the borrowers monthly obligations to change due to the new debt that has been created and the borrower may now not meet the Debt-to-Income requirements that were required by the Lender under the original approval. All borrowers need to ask their lender if it is ok to make major purchases after they receive initial loan approval but prior to closing, or else they may find that they may have a home to put that brand new furniture. In reality, I have been advising my clients not to even think of opening new lines of credit until after the loan has closed and all monies dispersed! If you have any comments or questions about Lenders wanting a second credit report right before closing, email me at [email protected] or visit my website at www.MegaAgentRealEstate.com.

Mega Agent Real Estate Team at Remax Advantage