Curious about how closing costs stack up across the country? The average national closing costs totaled $4,876, according to a recent survey released by ClosingCorp. This data represents the average closing costs, including lender’s title, owner’s title, settlement, appraisal, transfer taxes (where applicable), recording fees and other costs including inspection (pest, roof and home) services [...]
There is definitely an uptick of new construction in East Tennessee and as a real estate professional, it's important that you are informed about issues that may affect your clients. One such thing to be familiar with is "Notice of Completion." The Notice of Completion is an instrument that can be recorded pursuant to TN [...]
Marital property is anything, real or personal, that was acquired during marriage, and includes any increase in value of separate property over the course of the marriage or personal injury recoveries. The court determines the spouses’ contributions to increase to determined value. Everything else is separate property, and is awarded to the spouse whose property [...]
Generally, Old Republic will not insure a property if there has been a tax sale in the last 20 years absent certain factors being present. If there is an Owner’s Policy for the current owner, and that Owner’s Policy does not contain an exception for tax sale matters, ORT can insure with an indemnity letter [...]
If you thought Melrose Title's FREE title app was already pretty great, you're going to love these latest updates! The Buyer Estimate has been redesigned to feature sections for the following: Home insurance Property tax prorations HOA dues prorations Impounds Lenders fees and other buyer expenses OR credits. Don't worry, it still includes allows you to save [...]
Melrose Title is spreading a little bit of love to our friends at the Ronald McDonald House this holiday season by collecting items from the organization's wishlist. You can drop off items at either Melrose Title location between now and the end of the year. Another way to support the Ronald McDonald House is by [...]
Join Melrose Title Company for the Farragut Chamber's Fall 5k Run & Fun Walk! When: November 11th at 8 a.m. Where: Mayor Bob Leonard Park, Watt Road, Farragut TN This event benefits the Chamber’s Education Grant program and 15% of the proceeds will be donated to the Smoky Mountain Service Dogs (for our wounded veterans). [...]
Please be aware that Wire Fraud Schemes are rampant this summer as well as email phishing. What can you do? Change your email password to something difficult to replicate (use a combination of letters and numbers). From a recent article in the ALTA (American Land Title Association) newsletter: Here are five tips to protect against wire [...]
1) A closing statement form called the Closing Disclosure or CD is used for most loan applications. The lender, not the closing agent, may be preparing and delivering the CD. 2) The CD must be delivered to the buyer/consumer at least three business days prior to the scheduled closing date. 3) The closing agent must [...]
In the title business, we work with all sorts of different parties, from loan officers to real estate professionals, as well as consumers. All too often, there is confusion among these individuals about what a title commitment is as well as how to read one. It is and has been important for them to understand [...]
