CLOSE IT! House of the Week: A High-Rise Available in Chinatown

Looking for a high-rise pad to make into a man or woman cave in the District? Well look no further because we have found the perfect condo at The Lafayette at Penn Quarter which lists for $465,000. This one-bedroom, one-bathroom spans over 700 square feet with granite kitchen counter tops and panoramic views from your bedroom balcony. You're also super close to the National Mall should you want to go for a jog or a bike ride while the sun is rising or setting overlooking historic views. Don’t forget, as of October 1, 2017, you could qualify for the DC First-Time Homebuyer Recordation Tax Reduction and Federal Title & Escrow Company will help you submit your application!   

Assuming a homebuyer puts down 20 percent, their cash-to-close would be $106,695 and monthly mortgage payments would be approximately $1,358. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

CLOSE IT! House of the Week: A family home located in the residences at Adam's Row

View this stunning townhome in Northeast, D.C., which lists for $575,000. The detached townhome has four bedrooms and three in a half bathrooms perfect for a family of four or five. It spans over 1,786 square feet and has four levels of living space to include a large master suite with a balcony, three additional spacious bedrooms perfect for children, modernized bathrooms, and a beautiful kitchen to enjoy Sunday family dinners. Plus a basement!

Assuming a homebuyer puts down five percent, their cash- to-close would be $45,148.02 and monthly mortgage payments would be approximately $2,348.95. However, for a complete picture of what your cash-to-close figures would be, including seller’s net proceeds from the sale and such, view the Close It! Web version or download the free Close It! iOS app

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing costs by ordering services online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

Wire Fraud is on the Rise

In the digital era, fraudsters have upped their game to attempt to steal, connive, and deceive. A lucrative target for criminals is now the real estate industry at large. All parties involved in a real estate transaction must take extra steps to ensure minimal risk when dealing with sensitive information and funds. Fraudsters are constantly lurking for vulnerabilities at every corner of the internet, especially when it comes to online banking transactions. A known email scam called phishing is being utilized to redirect clients’ money into fraudulent accounts. “Phishing is a fraudulent practice of sending emails from a reputable company to convince individuals to reveal personal information, such as passwords and credit card numbers”. In these cases, fraudsters are hacking into email accounts of lenders, real estate agents or title companies, pretending to be an employee, and then providing false information, such as fraudulent wiring instructions. If their attempts are successful and funds are delivered to a fraudulent account, the funds are virtually impossible to recover. Because of this, Federal Title & Escrow Company will only send wire instructions to clients via email, in a secured format and only upon request. Clients should never accept wiring instructions from any other party. So that our clients can also take their own precautionary steps when sending funds, we’ve prepared the below wire verification checklist:

  1. Verify that the wiring instructions are received, in a secured email format, from Federal Title & Escrow Company.
  2. Have your bank verify that the name on the account of the receiving bank is Close It! Title Services, Inc. D/B/A Federal Title & Escrow Company.
  3. If the wiring instructions you have received do not display the receiving bank as United Bank and/or do not display the recipient or beneficiary as Federal Title & Escrow Company and/or Close It! Title Services, Inc., or a combination thereof, you should immediately STOP and contact our office by phone at 202-362-1500. 

CLOSE IT! House of the Week: A town home in Bloomingdale

CLOSE IT! House of the Week: A town home in Bloomingdale

A beautiful Victorian style townhouse located in LeDroit Park has an open floor plan with a modernized gourmet kitchen, perfect for hosting and entertaining. The unit includes 3 bedrooms and 3 spa like bathrooms with a bonus outdoor patio area on the property. The town home spans over 1,800 square feet and could be yours just in time for a Labor Day weekend celebration for only $869,000.

Other features:

  • Recess lighting throughout the home
  • Driveway and street parking
  • Off bedroom balcony
  • Pets allowed
  • Walk Score® – 95 Walkers Paradise
  • Transit Sore – 78 Excellent Transit
  • Bike Score – 84 Very Bikeable

Assuming the home buyer puts down 5 percent on a conventional loan, their cash to close would be $67,012 and monthly payments would be approximately $3,572. For a more accurate picture of what the cash-to-close figures would be for you, including the seller’s net proceeds and such, visit the CLOSE IT! web version calculator here or download the CLOSE IT! iOS app to your smart phone or tablet.

Feel free to tell your real estate agent that you want to use Federal Title & Escrow Company for settlement and save up to $750 on closing cost by ordering online. Always remember, it’s your choice in selecting a settlement company when it’s time to close. 

Send EMDs Electronically and Securely Now!

It's official - realtors and home buyers can NOW send earnest money deposits electronically and securely to Federal Title & Escrow Company with ZOCCAM!

This is a leading banking application for smart phones that deposits and transfers escrow money instantly, any time, day or night- from your pocket!

Simply take a picture of the front and back of your earnest money deposit check, select Federal Title & Escrow Company's escrow account, confirm the information to be accurate, then select send. The agent and home buyer will be immediately notified that the escrow money deposit was received.     

This is a game changer for agents and home buyers because it saves time, money, and is hassle free with just a simple click of an app on your smart phone. Oh and it's FREE, SAFE, and SECURE!

ZOCCAM doesn’t contain or hold any financial account information, and all content is encrypted and sent using state-of-the-art security techniques that ensure every client’s non-public personal information is protected. 

View this short ZOCCAM demonstration, download the app, and begin to use today! 

***Please note, when a license number is requested in the below instructions, please use 88888888 in the meantime, while the app is being modified. *** 

  • View the step-by-step instructions for agents here
  • View the step-by-step instructions for home buyers here
  • Ways to save at closing

    Title charges are the largest chunk of closing costs and can vary by hundreds of dollars.

    Learn more

  • What are closing costs?

    The real estate closing process involves loan steps, legal steps and title steps.

    Learn more

  • What's title insurance?

    Insure your legal ownership just like you'd insure the building, but for lots cheaper.

    Learn more

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Our blog contains general information only, not intended to be relied upon as, nor a substitute for, specific professional advice. Rate tables and figures that appear on our blog are deemed reliable but not guaranteed. For current rates & policies, refer to our Quick Quote and Consumer Guide. We accept no responsibility for loss occasioned to any purpose acting on or refraining from action as a result of any material on our blog.