Buying a Home
The truth about real estate’s Controlled Business Relationships
We recently received an email from a potential customer who was trying to be an informed consumer and get a fair deal on a mortgage. Here’s the opening line: “I’m considering a refinance to shorten term and lower rate. Lenders are unable to provide any kind of transparency (or patience) with questions on fees.” Unfortunately,…
Read Full ArticleDid they really get a good deal on title insurance?
A Philadelphia real estate broker recently referred a couple to us for title insurance; she had listed their Center City home for sale. The couple wanted to move closer to work, and planned to buy a home in Bucks County. Since the couple was moving out of the city, they were working with a different…
Read Full ArticleThe Value of Having Your Own “Wrecking Crew”
Twenty five years ago when Ronald Reagan was finishing up his second term in office, I passed the real estate exam in Pennsylvania. I still remember the first house that I sold in Willow Grove PA for $85,000 and the rate for the borrower’s thirty-year mortgage was 10.75%. I think I showed Sharon and Jay…
Read Full ArticleMoral of the story: make sure you deal with a reputable title company.
During the course of a recent refinance for “Ms. Smith, we performed the title search and uncovered a $300,000 IRS lien against the previous owner. Ms. Smith recalls the title company, the one she hired when she purchased the house, had mentioned that an IRS lien existed. To her surprise, that title company never resolved…
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