Category: Real Estate 123

A mandatory disclosure prepared by a seller and given to buyer

A formal inspection of a property’s condition by professional home inspector.

Inspecting and observing a property’s condition that might adversely affect its market value

…act with the utmost good faith and diligence

Conveyancing, as the name implies, is the act of transferring property to a new owner. Unlike personal property, real property – such as real estate or automobiles – is titled to convey ownership. This title must be transferred when assets are sold and must be cleared (free of liens or encumbrances) in order for transfer […]

FICO stands for Fair, Isaac, and Company. FICO score is now widely used by the vast majority of banks and credit grantors, and is based on consumer credit files of the three national credit bureaus: Experian, Equifax, and TransUnion.

Title insurance is issued for a one-time fee, called a premium, usually due at the time of escrow closing. Policy coverage lasts as long as the insured or their heirs hold title to the property.

Title Company provides title search service to the parties involved in a real estate transaction. It also issues title insurance policies that protect buyer and lender against losses related to the property’s title and ownership. Title insurance also minimize the risk of acquiring property whole legal history is unknown to the buyer.

Escrow Company

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Escrow Company is an independent third party entity. Its main function in a real estate transaction is to safe guard funds and real property title involved. Whether it is the buyer, seller, or lender, all parties must strictly follow escrow instructions. Upon successful closing, escrow will disburse money to the appropriate parties and transfer title or ownership of the real property from the seller to the buyer.

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