What is closing on a house? Closing day is a meeting that finalizes a real estate transaction. It officially transfers ownership of the home over to the buyer, and the seller receives payment for the sale. But before this can occur the buyer and seller need to go through the closing process, which is also referred to as completion or settlement. Closing day is scheduled for several weeks after … [Read more...] about What Sellers Need to Know About Closing Day
Escrow services aren’t just for new homeowners. An escrow account protects both people involved in a financial agreement. So do you need escrow when buying a car? Not if you’re driving it right off the lot. But if you’re buying a car from a stranger, an auction site, or ordering a classic model overseas, escrow can act as a middleman to safeguard the exchange. Fraudulent … [Read more...] about Should You Use Escrow When Buying a Car?
Unfortunately, it’s not uncommon for home buyers to get caught up in a real estate scam. Thousands of victims have reported housing fraud to the FBI via their Internet Crime Complaint Center. Get savvy about the telltale signs. Here are five common real estate scams and how to spot them. Illegal property flipping: Property flipping is generally legal. An investor purchases a … [Read more...] about How to Spot a Real Estate Scam