Find articles & information about your upcoming settlement: The closing table is the last stop on your journey to homeownership or refinancing. This guide contains documents, tools and articles to help you along the way.
When a homebuyer makes an offer to buy a house, the home seller wants to be certain that the title to the property is clear. But even the most diligent search of the public records could fail to disclose a number of title defects. Read on to learn about a few of the problems that can suddenly surface.
A homebuyer may choose between a limited title insurance policy and an enhanced title insurance policy, also known as an "Eagle" policy. While in most cases a limited policy will suffice, the Eagle policy covers a host of...
These helpful links will direct you to government websites, title insurance and real estate resources and other web pages we feel may benefit you on your journey — whether you're trying to buy, sell or refinance a home.
Q. Is there an advantage of being a first-time homebuyer in Maryland? The answer is "Yes." If you are a first-time homebuyer in the State of Maryland, then you are exempt from paying your portion of the State Transfer Tax (.25% of the Sales Price).
Make the move into your new home a little easier with this list of local utility and service providers. Please note, these links are provided for reference purposes only, and links may stop working without notice. For the most up-to-date information about...
The exchange of real property for other real property (a "like-kind" exchange) may be a nontaxable event. To be a like-kind exchange, the property you transfer (the "Exchange Property") and the property you acquire (the "Replacement Property") must be...
Reviewing and understanding a condominium’s declaration and bylaws is extremely important. These documents stipulate nearly every aspect of condominium living — from the election of the board of directors of the condominium association, to whether you may lease...
The Foreign Investment in Real Property Tax Act (FIRPTA) of 1980 authorizes the United States to tax foreign persons who are nonresident aliens selling U.S. real property interests. A U.S. real property interest includes sales of interests in parcels of real property.
Despite a diligent search of public record, it's still possible for a title insurance claim to arise suddenly after you've purchased your home. Often times, claims are rooted in false or misleading information, making them difficult to detect until months — even years — after the book is closed...
Find general guidelines as well as state specific information that may affect your closing and closing costs. If you want to calculate your closing costs, please request an instant quote.
External links to local government websites for counties where Federal Title handles closings. Whether you're settling in a new area considering moving, you may find them useful for learning about various government services, tax incentives and other information.
The Taxpayer Relief Act of 1997 (the "Act"), was signed by the President on August 5, 1997. Taxpayers who have not recently owned a home in the District may be eligible for a one-time tax credit of up to $5,000 of the amount of the purchase price against federal income tax.
The DC Tax Abatement Program provides an exemption from the DC 1.1% Recordation Tax and an allowable credit from your seller(s) of 1.1% equal to the DC Transfer Tax. Additionally, the program provides a five-year real estate tax abatement that begins October 1 following...
You will be required to sign numerous documents at the time of closing. In the majority of closings, the lender prepares and delivers the documents to the closing agent the day before or day-of closing. Most borrowers do not have the opportunity to review the documents prior to closing.
Tenancy is possession or occupancy of lands, buildings or other property by title, under a lease or on payment of rent. The most common type is Common Law Tenancies, which is when groups of persons may hold property as a partnership or in the form...
Reverse exchanges not only produce significant tax savings for you but gives you "control" over your replacement property before disposing of your relinquished property. This provides greatly enhanced planning opportunities and reduces the time pressures inherent in the 45-day "identification" requirement in a regular deferred exchange.
