It takes more than luck to have a successful real estate closing. These are our top 5 tips for making your next closing go smoothly. Money, Money, Money, Money - Make buyers aware that funds brought to closing must be in the form of a wire or cashier's check. Title companies cannot accept personal checks. [...]
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 [...]
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 [...]
We’re excited to present the latest in our series on the Melrose Title Company blog “Ask An Attorney.” This is a way for us to answer some of the more commonly asked questions and provide clarity and understanding for consumers. In this edition of “Ask An Attorney,” our own attorney Jessee Bundy addresses issues that [...]
Did you know there's something called the Residential Closing Funds Distribution Act of 2005 (a.k.a. the "Good Funds" Law)? The Residential Closing Funds Distribution Act of 2005 ("the Act") ensures that checks disbursed at the closing table are backed by good funds at the time of issuance and will not be dishonored when presented to [...]
