The Federal Government, in an effort to stimulate the economy, enacted a first time home buyer tax credit earlier this year that would give homebuyers up to $8,000 to help offset the costs of purchasing a home. Many REALTORS and homebuyers alike, have...
The term REO stands for Real Estate Owned properties. These are properties that are owned by a bank or lender and are for sale to the public. These properties were reverted back to the bank after the homeowner was foreclosed upon. If the home fails...
If you are either in the process of buying or selling a foreclosure property, understanding the basic terms associated with the process will help you ask appropriate questions of your REALTOR, the escrow officer, the lender and/or other parties involved in the transaction. This can...
Demystifying the escrow process for buyers is part of our goal here at American Trust Escrow. One of the ways we accomplish this is by providing buyer's a detailed opening package. This package contains a particular form called a Vesting Form that is integral to...
Buying an REO (or Real Estate Owned) property is a little different escrow process than your standard home sale. REALTORS and buyers need to remember that they are in escrow with a bank/lender (the "seller") and that the bank/lender has strict procedures in place to...
Closing fees are a prickly part of any real estate deal. This is where everybody involved in the sale and transfer - lenders, lawyers, government agencies, and the escrow company - add their numbers to the bottom line. Perhaps the worst thing about closing fees...
Within 48 hours of receiving a contract, American Trust Escrow mails out an opening package to both the buyer and seller. These packages contain "homework", i.e. paperwork that escrow needs back promptly in order to move forward and ensure that a transaction closes on schedule....
According to Merriam-Webster, escrow is defined as: a deed, a bond, money, or a piece of property held in trust by a third party to be turned over to the grantee only upon fulfillment of a condition. Whether it is the buying and selling of a...
