By yhenry345 December 21, 2012
Victor was very fast and efficient with the whole process. Highly recommend. ...read more
By Sarah DeLeva March 08, 2009
They are thoughtfulin their process, fast and friendly. I felt comfortable working with them. They took the time to explain everythiing. ...read more
Over the past couple years there have been so many changes in our industry. The latest and not so greatest, is the new GFE settlement statement. The intent is admirable, the concept was to the point. However I feel the process lacked enough input from our industry to challange the gliches. There's a great deal of misconceptions concerning the new process. Perhaps over a short time the Lenders, Realtors and Title Agents will know the ins and outs. But, wasn't the whole idea of the new process to accurately and fully disclose to the consumer, making it easier for them to understand?Are customers more confused than ever? YesCan a consumer be mislead by the disclosures? YesAre the New GFE's from lenders completely accrurate? NOAre the New HUD SETTLEMENT STATEMENTS any easier to read? NOTHe NEW GFE was created to help the consumer make decisions concerning their services and to be allowed to shop around for those services!Example:Did you know that the GFE states that your title insurance can change by 10% if you use a different Title insurance agent than the one quoted and recommended by the Bank, Lender or Realtor? * Perhaps this is true in other states but Title Agents in Ohio must quote the same rates for the same insurance product. The State of Ohio has filed rates and is regulated unlike some of the other states. Therefore the information on your GFE is not completely accurate and can be misleading. Your may use the title company of your choice. Note: Title Services fees may vary, so check them out and compare carefully.Know the regulations concerning third party fees!. Are you being overcharged?Why are they not accurate?The new GFE and GFE SETTLEMENT STATEMENT was created as a national document. Howeverthere are a few states such as Ohio that are regulated differently and have different local area customs and laws. When the GFE's were created, no seperate state disclosures were created or required in order to address these issues and properly disclose to the consumer the variances from state to state and how they relate to the consumers specific transaction. Example: Northern Ohio's standard area customs: Ther Seller pays the conveyance fee for the sale of their home. Note: The GFE and GFE Settlement statement requirments do not allow for us to show the conveyance fee to the seller. We are required to show it on the buyers side and credit the fee on the first page of the HUD. This is one of the ways the industry has approached the problem concerning certain line items that local customs were not accounted for. The industry will not change the software created for a few states, instead we must mix the national trends and regulations with our own state requirments and find ways around it to disclose the information which leads to a more confusing GFE for the everday consumer. Pulling apart the LENDERS GFE and GFE SETTLEMENT STATEMENT for the consumer to understand would take more than a blog session. Why wasn't the process simplified for the consumer? Ask your local goverment official! Did any one do a consumer test before launching these changes nationally to see how the everday consumer would respond. Did anyone question what issues, questions and/or responses the everyday people with hands on experience in our industry would have? If you want to know more about understanding your finacial documents, call us and we will be happy to answer any questions you may have. If we can't answer your questions,we'll direct you to someone that can help. Whats your experience? Have any comments or questions, let's hear them! ...read more
By American Family Title Agency June 08, 2010
The Real Estate Market can be tricky for both Buyers and Sellers. SELLERS: Before you sell be sure to be prepared to properly disclose to the Buyer. Know your responsiblities as a Seller and what your City or County requirements are before you transfer. A clean proper sale now may keep you out of hot dirty water later. Yes! if your married -Ohio does have dower rights. Make sure your spouse signs off on the transfer deed. BUYERS: Before you buy an EBAY HOME or For Sale By Owner: Do your research! Know your city requirments such as Point of Sales, Disclosures. Does that house have current city violations that your going to get stuck paying for? Don't want to pay for an inspection or appraisal on cash deals, Order a BPO from a qualified Real Estate Agent in the area. Don't want to pay for full Title and Escrow services but you would like to know if the property has any liens, back taxes and water and sewer charges or collections. Order a limited lien and special tax search from your Title Company or call us. Request complete disclosure from the Seller. Educate yourself before you buy! BUYERS AND SELLERS: Be familiar with your rights as a consumer! Don't be pressured into using other service providers from your Agents, Lenders or others just because they have an affliated business arrangement. Make sure you are being offered a choice and are given the time to compare services and cost. There is no such thing as one stop shops. Just one stop shop business arrangements in which your service provider may be additionally compensated for stearing the business. You can not be turned down or declined if you choose to use or find your own additional services for your transaction. Claims that the services are better are not always true either. Once again, be informed and educate yourself and know your choices before you decide. ** Already purchased or refinanced? If you think you might of been taken for a ride or suspicious activity occured, call your local Housing Avocates and/or your local Consumers affairs office for help. ...read more
By American Family Title Agency March 05, 2009
A home buyer can estimate closing costs to determine how much money to save up for the house purchase. Closing costs are expenses such as an application fee, title insurance and credit report. A lender will provide a list of the costs to the buyer before the loan closing date. ...read more
A title is a legal document listing the history of ownership of a home or commercial property. A title search will also reveal if there are any liens on the property or land encroachments. This article will show you the best way to choose a title search company. ...read more
