Gig Harbor Real Estate – Video page
How To Read A HUD Statement
How to read a HUD – 1 Settlement Statement
The HUD-1 Settlement Statement is one of the key documents that is covered at closing. The purpose of this video is to clarify some of the mysteries of the form and prepare buyers for the types of things they might encounter when reviewing their own HUD-1. We help illustrate the HUD review process and explain each section of the form. Hopefully, this will make for a smoother transactions and create a better experience for all involved! Below are two helpful files; a blank HUD-1 form and an explanation of the form.
How To Read A Title Report
A buyer that has recently made an offer on a home receives a title commitment in the mail. After opening the envelope, the buyer wishes that she had some expert guidance to help her clearly understand the details in the report. Length 5:15
Key words and phrases defined: Preliminary Commitment for Title Insurance, Supplemental Report, Exception
What Happens Between Signing And Recording?
This video tracks the process of two separate transactions after both buyer’s and seller’s have signed their documents. Phone conversations between the escrow officer and title unit staff help illustrate what happens “behind the scenes” to finalize the closing of two different real estate transactions. Length 4:02
Key words and phrases defined: Released for recording, On-hold, Power of Attorney, Lender Condition, Recording Numbers, Warranty Deed, Excise Tax, Cut-off Time, Deed of Trust
Why Do I Need Title Insurance?
Title insurance is often misunderstood by new home buyers. This presentation explains the value and role of title insurance in a real estate transaction. At the signing table, an escrow officer is helping a homebuyer review their settlement statement. When the home buyer asks why he needs title insurance, Tim Daniels suddenly appears and explains the importance of title insurance for a new home owner. Length 2:46
Key words and phrases defined: Title Insurance, Fee Simple Title, Title Defect, Labor and Material Lien Rights, Preliminary Commitment, Liens and Encumbrances, Lender Policy, First Lien Position
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