Remove Commercial Remove Finance Remove Title search
article thumbnail

The AOL debate rages on

Housing Wire

Prior to the advent and widespread use of title insurance, 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 before taking title to a property. Now we have less confidence, but we have lower costs.”

Title 299
article thumbnail

Top Tips and Considerations For Buying Land

Realty Biz

However, the process involves intricate steps, from understanding zoning laws to securing financing and conducting due diligence. Zoning determines land use, such as residential, commercial, or agricultural. Next, we'll explore financing options and the specifics of land loans, a critical step in acquiring land.

Land 128
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Things a Lawyer For Real Estate Does For Buyers

Realty Biz

Attorneys ensure that the loan documentation is executed correctly, review the terms and conditions of the mortgage, and confirm that the property's title is clear and suitable for collateral. Lawyers do this by performing a title search. Some attorneys charge a flat fee, while others bill hourly rates.

article thumbnail

Selling to Florida Cash Home Buyers: Tips from Experts

HomeLight

However, this buyer needs a mortgage to finance the deal, and that can take months. These buyers typically have more cash on hand — or more equity in their primary homes up North — which enables them to purchase a Florida home without having to obtain financing. The buyer runs a title search on the property.

article thumbnail

What is a Promissory Note in Real Estate?

Marco Santarelli

A real estate promissory note provides greater flexibility in financing, allowing both parties to negotiate terms that are more suitable for their needs than traditional mortgage loans. When it comes to buying a property, financing is a significant aspect that requires careful consideration. Promissory Note Vs Mortgage: The Difference?

article thumbnail

Who Pays for the Appraisal and Why This Key Homebuying Step Is Worth Every Penny

HomeLight

According to the National Association of Realtors®, only 22% of residential sales are cash sales, so it’s likely that you’re taking out a mortgage to finance your home purchase. You’ll learn jargon you’ve never heard before, like earnest money , escrow, and title search. Get a good, reputable appraiser,” he says.

article thumbnail

How Long Does It Take to Close on a House From Start to Finish?

HomeLight

He recently closed a small commercial office space in Nassau County in just 25 minutes, where the buyer client paid all cash. If the purchase is being financed with a loan, he estimates that the closing will take around 60-90 minutes because of the small mountain of paperwork the buyer will need to sign.

Closing 116