Housing Wire

MARCH 31, 2021

That said, many companies still rely on legacy systems and manual processes to procure, search, and examine title. This slows the search and underwriting processes, makes them more prone to errors and delays closings at the expense of the homebuyer.

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Housing Wire

JUNE 24, 2021

TitleWave is a division of the Fidelity National Finance family of companies, the nation’s largest title insurance company through its five national title insurance underwriters – Fidelity National Title , Chicago Title , Commonwealth Land Title , Alamo Title and National Title of New York. “As

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Housing Wire

APRIL 17, 2023

Many companies are now using AI and machine learning to search traditional and non-traditional property data sources — reducing the time required for a manual title search. Strides in technology have also made closings more accessible. Some companies are also using AI to automatically route mortgage payoffs.

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Housing Wire

MARCH 1, 2024

For example, recently, Fannie Mae has focused on expanding alternatives to title insurance as a way to supposedly increase homeownership affordability. However, Fannie Mae’s own research from 2022 found that title insurance is not a significant component of the overall closing costs when buying a home.

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Housing Wire

DECEMBER 5, 2022

Of the 421 respondents, 44% closed transactions in the South, 20% in the Midwest, 19% in the West, 15% in the Northeast and 1% in the U.S. Digital closings continue to evolve – What title companies need to know. They are selling, closing, searching, doing exams, and they are feeling overwhelmed and underappreciated.”.

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Realty Biz

DECEMBER 15, 2021

When you’re buying a home, you’ll need a title search so that you can get title insurance. Title searches can also reassure buyers, making sure there is a smaller chance of problems with the title later on. We will take a look at the things you need to know about a title search and how it works.

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Housing Wire

MAY 27, 2021

Writing about title automation in a recent HousingWire feature , Diane Tomb, CEO of American Land Title Association , noted: “In the past, a title company wanting to adopt automation needed a custom software build as part of an automated process and had to change their workflows around a new process.

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Housing Wire

JANUARY 19, 2023

For over a century, the title industry has played a critical role in keeping homeowners safe and the real estate market healthy. According to economist Hernando de Soto, the author of The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else , title insurance is the key to unlocking wealth in America.

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Housing Wire

OCTOBER 13, 2022

Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for.

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Housing Wire

APRIL 1, 2021

ServiceLink’s tech-enabled title solution, EXOS Title, combines cutting-edge technology and superior customer service with a nationwide footprint – ultimately getting lenders and their clients to the closing table faster. EXOS Title offers strict adherence to local, state and federal regulatory guidelines.

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HomeLight

AUGUST 26, 2020

Waiting for your house to close can feel like being in line at the DMV — it takes forever, and whenever you think you’ve gotten to the head of the line, there’s another delay. Some of the elements of closing on a home can be difficult to grasp, like the property title search. So what does a property title search entail?

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HomeLight

NOVEMBER 1, 2021

Title search: How to check for property liens. A title search investigates a property’s ownership and may reveal the existence of what’s referred to as a cloud, or title inconsistency. An early title search allows you to resolve complications ahead of time for a smoother sale. Murow agrees.

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Realty Biz

FEBRUARY 19, 2024

Buying land represents a pivotal investment in one's future. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives. Each stage demands careful consideration to avoid common pitfalls and ensure the land meets your long-term objectives. That would not be pleasant.

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Housing Wire

JUNE 8, 2023

Many in the title industry would argue that Fannie Mae ’s acceptance of AOLs is a big deal. “We We strongly believe that title insurance is, and always will be, essential,” the American Land Title Association wrote in an email to HousingWire in April 2022.

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Housing Wire

DECEMBER 27, 2023

The title industry has worked hard over the last few years to shed that reputation. It has begun to adopt and integrate more and more technology into the title search and production process. Despite the potential data security risks and its usage by bad actors, industry professionals believe AI is here to stay in title. “I

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Housing Wire

MARCH 27, 2023

This is because title insurance provides the most comprehensive protection of property rights. For a one-time fee paid at closing, title insurance protects homeowners and lenders from defects not only discoverable in public records search but also from unknown risks such as fraud and forgery that are not revealed in a title search.

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Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. Review your closing disclosure. Get all contingencies squared away.

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HomeLight

JUNE 19, 2023

It’s a plot of land. It makes you wonder: what’s the process for buying land with cash? Get Started Step 1: Find the land for sale You won’t always be lucky enough to drive past a plot of land that’s the perfect investment opportunity for you. There are real estate agents who specialize in land plots.

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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HomeLight

OCTOBER 30, 2020

But is the cash closing process always seamless? A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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HomeLight

NOVEMBER 10, 2021

When you sell your house without the help of a real estate agent, you’ll save money on commission fees but won’t escape closing costs entirely. The same closing fees that apply to an agent-assisted sale will be charged to a FSBO seller, with the exception of the agent commission. Seller FSBO closing costs.

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Real Trends

MARCH 9, 2022

While title insurance may be less understood by homebuyers, who may see it as just another fee involved in the closing process, it’s important for them to understand the many benefits title insurance provides and the dangers that can be incurred without it. Diane Tomb is the CEO of the American Land Title Association.

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HomeLight

DECEMBER 23, 2021

Essentially, title and deed are both related to the important question of who truly owns a particular piece of real estate and has the rights to it. Let’s take a deeper look at what a house title is; the different types of deeds used in real estate; and related terms including chain of title, title search, title insurance, and title abstract.

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HomeLight

MARCH 9, 2022

When buying a home, taking a peek into the history of the property is an important part of the closing process. This step is commonly referred to as a title search , title review, or property history search — but by any name, it involves delving into the formal records of a home and the property on which it sits.

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CT Homes

OCTOBER 28, 2021

When buying or selling a home, the topic of who pays closing costs is bound to come up eventually. Especially for those looking to budget their real estate experience carefully, closing costs can be an important factor when determining if a home is the best investment for your needs. What are Closing Costs? Seller Closing Costs.

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Redfin

MARCH 3, 2022

Once your offer has been accepted, the excitement kicks in, and the countdown to closing begins. But before you can get your keys, you’ll want to be cautious of any roadblocks or setbacks that could cause a delayed closing and postpone your move-in date. So how can you avoid a delayed closing? What does delayed closing mean?

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HomeLight

SEPTEMBER 9, 2020

Even though you won’t need to deal with a lender, there’s no escaping the closing and title process to make sure there are no problems with the title of the home and that the transaction closes smoothly. Consider getting a land survey. Are you responsible for paying closing costs — or will the seller do that?

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HomeLight

FEBRUARY 26, 2021

According to the National Association of Realtors®, a plat map is “a map, drawn to scale, showing the divisions of the piece of land” — that piece of land being where your home is located. Typically, a plat map can be found somewhere in the pile of papers your title company presents to you at closing.

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HomeLight

AUGUST 31, 2021

It’s the moment when you can’t bear to see another piece of paper related to your home sale that you’ll receive the settlement statement — also known as a closing statement in real estate. Sellers can expect to pay between 6%-10% of the final sale price in commissions and closing costs, so it’s nice to see exactly where that money is going.

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RIS Media

FEBRUARY 21, 2021

(TNS)—Title insurance gives you financial protection in case someone claims to have partial ownership of your home after you purchase and close on the property. Part of the lender’s title insurance requirements is to have a title agency check to see if there are any open claims against the home you are buying.

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Marco Santarelli

AUGUST 28, 2020

However, you don't have to close on these properties immediately. If the 1031 exchange properties cannot be closed simultaneously, the money must be held by a qualified intermediary. In a three-party exchange, an accommodating party facilitates the exchange by transferring ownership between the parties so they close on the same day.

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HomeLight

JUNE 30, 2021

There’s more that goes into making an offer besides landing on a purchase price. In some states, an attorney will oversee the closing of the sale instead of a title company; if you’re going it alone, regardless, it’s a good idea to think about hiring one. Step 1: Land on your offer price. Title contingency.

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HomeLight

JUNE 14, 2022

A concession is when a seller agrees to use part of the proceeds from their home sale to cover some, or all, of a buyer’s closing costs. Nordling advises her clients to pay for inspections to ease the burden on potential buyers, but “[sellers] paying for closing costs, I don’t think we’re there yet. Closing costs and additional fees.

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HomeLight

JULY 12, 2022

1,000 on closing costs (such as deed preparation, mortgage satisfaction fees, attorney fees, wiring fees, any local municipality fees, etc.,) closing costs. Sellers sometimes provide the buyer with concessions or incentives to move forward with the deal and close the sale. Covering certain closing costs: Varies.

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HomeLight

SEPTEMBER 1, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Homebuyers in Connecticut pay an average of just over $2,700 in closing costs when purchasing a home.

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Realty Biz

NOVEMBER 11, 2020

This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. If the buyer still needs to sell their home before they can close on the new property, a home sale contingency can be put in place. A land surveyor will be sent to the property to ensure there are no violations.

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HomeLight

APRIL 6, 2023

California transfer taxes A transfer tax is a transaction fee tacked onto the sale of any land or real property. Part of the closing cost was paying into an escrow for that next property tax payment that was due in a few months,” Aird says. “It For your California capital gains, file California Capital Gain or Loss Schedule D (540).

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