First American Blog - The First Word

When you agree to purchase a home and begin the closing process, you'll be issued an HUD-1 Settlement Statement. The HUD-1 will detail the costs associated with the purchase of the property and will identify which party is responsible for which cost. On this form, however, some charges are aggregated together so that only the total is shown, thus...

Although the property you just purchased is new to you, it has a history, and sometimes, these histories can include unwanted baggage. During a real estate transaction's closing process, a title search on the property is completed to determine whetherthere are title defects that can have an effect on the purchase. 

When interested homebuyers apply for a mortgage, they'll be issued a Good Faith Estimate per the Real Estate Settlement Procedures Act (RESPA). This estimate must be issued within three business days after the lender receives your application and outlines a list of costs and fees associated with "closing" on a home. Once the GFE is issued, it's...

Mortgages are often thought of as a two-person operation, but that trend is starting to shift in the real estate market as individuals are increasingly seeking home loans on their own. Buyers who choose to go it alone enjoy some unique freedoms – like not being tied to another person's credit or employment history. However, they also may...

Springtime brings longer days, warmer afternoons and more people looking to buy homes. Sellers wanting to take advantage of the sudden annual upswing of consumers in the real estate market should avoid some common mistakes when showcasing their home.

Home sellers could encounter buyers from a wide variety of backgrounds. While property sellers are likely to want to move their houses to the highest bidders, setting the tone for a positive first impression is essential because it instantly improves your chances of finding a buyer.