Housing Wire

APRIL 18, 2022

When the COVID-19 pandemic shut the country down in 2020, title and settlement professionals were deemed essential and continued to help consumers purchase homes and refinance mortgages. Protecting homeowners is always at the center of the title insurance industry’s core values: to lead, deliver and protect. Fee disclosure is robust.

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Title Land Title search Closing 411

Housing Wire

APRIL 10, 2023

In December, HousingWire spoke to Flueid about the concept of instant title and why it is a misnomer for mortgage lenders. HousingWire: HousingWire recently spoke to Flueid about the concept of instant title and why it’s a misnomer for mortgage lenders. We’ve seen this shorten the transaction timeline by only about a day.

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Title Loans Equity Title search 392

Housing Wire

JULY 28, 2022

Even those with a considerable equity stake may find themselves in this dilemma. What can lenders do to help borrowers facilitate a sale, protect the equity in their home, and potentially remain in their home following the sale by negotiating a leaseback option? The borrower’s equity can be further eroded by legal and other fees.

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Equity Title Title search Banks 392

Housing Wire

OCTOBER 29, 2021

A small issue within the title process can have an impact on the length of the closing process, impacting mortgage lenders and borrowers. HousingWire recently spoke with Dave Steinmetz, Division President of Origination Services for ServiceLink, on what tools lenders should leverage to streamline home equity title and closing.

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Title Title search Equity Inspection 299

Housing Wire

MAY 11, 2023

This integration allows lenders to access Flueid’s title data and insights during the loan application process, resulting in time savings and a simplified consumer experience. Loan officers and underwriters can now easily check title information and review critical insights to understand the status of a property and consumer.

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Loans Title Title search Loan Officer 392

Housing Wire

AUGUST 6, 2021

While refinancing can be a good way to build equity and manage debt, it can cost money – anywhere between 3% to 6% of the amount of debt you still owe on your current loan. There’s also a chance your lender will require another title search and title insurance, which would add to your costs.

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Title search Title Closing costs Loans 451

HomeLight

OCTOBER 29, 2024

This means that the majority of Alabama sellers must pay off their existing mortgage before they can transfer the property title to the new buyer. over the previous year, you may even pocket a significant profit from your sale if you have substantial equity. Considering that housing prices in Alabama have increased by around 3.7%

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Closing costs Closing Title search Title 105

HomeLight

OCTOBER 31, 2024

If you sell your house for a mid-range price of $385,000, you can expect to pay anywhere from $23,100 to $38,500 in seller closing costs. The answer is a mix: Some closing costs are tax deductible, while others are not but can reduce your taxable capital gains.

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Closing costs Closing Title search Title 111

HomeLight

DECEMBER 23, 2021

House deed vs. title: what’s the difference between the two? Perhaps the biggest myth is that the title to a home is an actual document stored in a drawer somewhere. 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. Find Agent.

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Title Title search Bankruptcy Due diligence 111

Real Trends

MARCH 9, 2022

As we approach the beginning of home-buying season, with many buyers deciding on the purchase of their largest investment yet, title insurance is essential, giving homebuyers peace of mind and confidence that their property rights are protected. Why title insurance? The COVID-19 pandemic fundamentally changed the way we view our homes.

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Title Title search Land Closing 109

HomeLight

OCTOBER 31, 2024

Current property ownership documents You’ll also need documentation to prove property ownership: Property deed and title documents: These establish legal ownership. The title is the concept of legal ownership granted by the deed. Any second mortgage documents: Documents for any home equity loan or HELOC associated with the property.

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Purchase and sale agreement Title Title search Loans 64

Marco Santarelli

DECEMBER 20, 2024

With a better financial profile, you might qualify for a loan with a shorter term, helping you build equity faster and own your home sooner. You Want to Build Equity Faster: If you're financially stable, refinancing into a shorter-term loan can be a great move.

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Mortgages Fixed-rate mortgage Loans Principal 92

HomeLight

MARCH 24, 2025

Confirm the status of the mortgage You need to know whether there are any outstanding liens , such as a mortgage, home equity loan, or HELOC (line of credit) attached to the inherited house. This can be done through a title search , which will reveal any debts or claims against the property, including unpaid taxes.

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Purchase and sale agreement Title search Title Equity 52

Realty Biz

JUNE 14, 2023

It is likely at some point, you will hear about title insurance. From thirty-seven years of experience in the industry, I can tell you that many potential buyers will ask what title insurance is and how it works. There are two types of title insurance: a lender's and owner's policy. What is Owners Title Insurance?

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Title Title search Mortgages Land 87

HomeLight

JULY 11, 2023

Sometimes the easiest way to sell a house with a lien is to get a cash offer from an investor who is familiar with the process of resolving the title issue and can walk you through it. For a buyer to take possession of the property, the seller will need to clear title and satisfy all outstanding liens.

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Title Title search Equity Construction 122

HomeLight

AUGUST 20, 2021

This means that most Connecticut home sellers need to pay their remaining mortgage balance before transferring the property title to a buyer. If you have substantial equity, you can even walk away from your sale with a significant profit. In some cases, title searches reveal liens, or debts charged as a claim on your property.

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Closing costs Closing Title search Title 111

HomeLight

JANUARY 5, 2022

For example, if you offer your friend a discount on your home – intentionally or not – it may be considered a “gift of equity” subject to gift taxes. That way, you can provide documentation to your tax advisor to determine if you made a gift of equity to your friend. Don’t: Forget about clearing title.

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Pre-approval Purchase and sale agreement Title search Title 111

HomeLight

JULY 12, 2024

Unlock Your Equity and Buy Before You Sell Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. Here’s what you can expect: Title search: Verifying the property’s legal ownership and any existing liens or claims.

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Purchase and sale agreement Earnest money deposit Home sale contingency Title search 111

HomeLight

NOVEMBER 9, 2021

You’re also responsible for paying off any home equity loans you may have taken out against your mortgage. Although the title insurance company will often take care of recording this deed of reconveyance, the seller pays the applicable fee. Title search. Most states require a title search to legally purchase a property.

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Closing costs Closing Title search Title 104

RIS Media

SEPTEMBER 21, 2020

Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. During this time, the home is inspected and appraised, and the title searched for liens, etc. percent of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20 percent equity.

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Pre-approval Pre-qualification Title search Inspection 90

HomeLight

AUGUST 24, 2022

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 signed contract is then sent to the title company. The buyer runs a title search on the property. Property investors.

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Purchase and sale agreement Title search Proof of funds Title 111

Realty Biz

FEBRUARY 19, 2024

The parcels that dragged my portfolio down were the ones where I just thought “Oh that’s great discount for this piece of property, I know I’m buying it with equity, I’ll just list it for full market value and see who comes along.” The real estate attorney you are using should conduct a title search to ensure no liens against the property.

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Land Due diligence Title search Finance 128

Realty Biz

AUGUST 12, 2023

Equity : The difference between the current market value of your home and the amount you owe on your mortgage. As you pay down your mortgage or if the value of your home rises, your equity increases. These can include title search fees, appraisal fees, attorney fees, and more.

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Purchase and sale agreement Mortgages Pre-approval Title search 97

HomeLight

SEPTEMBER 13, 2022

If you wish to sell the home to your relative for less than its fair market value , then you’ll likely have to report the difference between the home’s value and the sale price as a gift of equity with the IRS (more on this later in the article). Perform a title search. This can include the following: Transfer property title.

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Purchase and sale agreement Title Title search Finance 111

HomeLight

MARCH 31, 2022

As housing prices skyrocket, many homeowners are considering ways to turn their growing home equity into cash. If you’re one of the 6 million Americans projected to sell a home this year, you may be trying to figure out exactly how much of that increasing equity will end up in your pocket after all is said and done. Title insurance.

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Closing Purchase and sale agreement Title Title search 105

Redfin

FEBRUARY 21, 2025

Whether you’re preparing for a move, considering a home equity loan, or simply maintaining your propertys clean title, uncovering liens early can save you from unexpected costs and stress down the road. Use an online title company For a more thorough lien search, consider using an online title company.

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Title search Title Mortgages Equity 31

Redfin

JANUARY 28, 2025

However, there are other costs you need to account for in addition to the loan itself, such as: Equity payment: Youll need to pay the seller for the equity theyve already built up in the home. The sellers equity: This is the difference between the homes sale price and the remaining balance on the existing mortgage.

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Loans Mortgages VA loan Purchase and sale agreement 31

HomeLight

JUNE 19, 2023

Other examples of documentation for proof of funds that a seller might accept include a bank statement, a copy of a money market account balance, or an open equity line of credit. Step 8: Check over the title Just like with a house, liens can be placed on land for various reasons, such as outstanding taxes. acres that are usable.”

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Land Proof of funds Purchase and sale agreement Title 111

Marco Santarelli

DECEMBER 29, 2024

Refinancing can be an effective way to lower your interest rate, reduce your monthly payments, or take cash out of your existing home equity. These can include application fees, title search fees, and other administrative expenses. Refinancing: Is It Right for You?

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Mortgages Fixed-rate mortgage Loans Closing costs 52

HomeLight

NOVEMBER 21, 2024

Here are some typical fees you’ll pay during the refinance process: Application fee Appraisal fee Inspection fees Title search and insurance fees Possible attorney fees (required in some states) On average, closing costs range from 3%–6% of your total loan amount. How much equity is in your home? How Much Is Your Home Worth Now?

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Closing costs Equity Loans Title search 97

HomeLight

MARCH 6, 2023

He explains that owning a house is the most constructive and easiest way to build wealth, and even if you pay more now, you are still building equity, and will likely enjoy significant tax benefits. Listing agents should be getting a pre-title report and pre-inspections before a house even goes on the market,” he explains.

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Earnest money deposit Closing Sales Title 110

HomeLight

APRIL 14, 2023

So if you’ve got enough equity in your home, you won’t have to worry about coming up with cash at closing. Title insurance is also divided between buyers and sellers. Buyers usually pick up the cost for the lender’s policy, but sellers pay for the owner’s policy that protects the buyer from title defects.

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Closing costs Closing Purchase and sale agreement Title 105

HomeLight

AUGUST 31, 2021

Whoever is facilitating the closing — whether it be a title company, escrow firm, or real estate attorney — will be responsible for preparing the settlement statement. However, the settlement form developed by the trade group ALTA (American Land Title Association) is widely used across the nation for real estate transactions.

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Earnest money deposit Title Closing Loans 105

HomeLight

AUGUST 31, 2020

This means that you cannot sell your house and pocket any equity from the sale until that tax lien debt is satisfied. As that tax debt piles up, it’ll swiftly eclipse any equity that you’ve built up in your home. Tax liens are discoverable during a title search — even if the lien data isn’t an exact match.

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Bankruptcy Equity Title Closing 105

HomeLight

SEPTEMBER 21, 2020

Typically the claim involves either the title to the property or a claimed ownership interest in it. A lis pendens is recorded on the title of the home, just like any other lien or mortgage. Another option is to contact a title company and request that they run a title search on the property, or ask your real estate agent for guidance.

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Title Banks Investor Title search 105

Redfin

DECEMBER 15, 2023

While this might sound like a small difference, it can translate into substantial savings over time including lower monthly payments, paying off the mortgage quicker, and even allowing homeowners to tap into their home equity for other expenses. Typically, the longer you’ve lived in your home, the more equity you have.

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Fixed-rate mortgage Mortgages Title search Equity 69

HomeLight

FEBRUARY 14, 2022

Though it’s true that most sellers would rather finalize the transaction as quickly as possible once they’ve accepted a purchase offer , not everyone is in a hurry to relocate or collect equity. Obtain a title report to see how long the seller has owned the property — the longer they’ve owned the property, the more equity they have.”.

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Purchase and sale agreement Due diligence Finance Equity 109