How long before we can close on our home purchase?
The time it takes to get to a closing of a real estate transaction is largely determined by the contract between the parties and the time needed to get lender approval if a mortgage is involved. In a typical residential transaction, most contingencies (other than financing and sale of the Purchaser’s residence) can be removed within two weeks. Financing should be resolved within 30-45 days.
How long will my closing last?
Closing a transaction should not be an ordeal. We typically budget one hour for a residential resale and 30-45 minutes for a refinance.
What is escrow?
Escrow is one of those phrases the professionals use to mystify consumers. It is a fluid term with several meanings. The most common are:
Don’t let your eyes glaze over when people start throwing around the word “escrow” – look them straight in the eye and ask precisely what type of escrow they are referring to.
Why do I record my deed?
Deeds are recorded to provide notice to the world that you own your property. Recording a deed at the Clerk of Court imparts “constructive notice” to the world that you own your property-everyone in the world is deemed by law to know of your interest. If you fail to record your Deed, only these people who have actual notice of your interest are aware of your interest.