Preliminary Review
How owners take title
What is Vesting
FHA & VA
Government (HUD) insured form of Mortgage Financing
if sales price and appraisal values differ, which one does a Lender base their LTV on?
Whichever is lower
Lenders Title Policy does this
Insures Lenders interest in the subject property
Marketing to a neighborhood post closing
Just Sold collateral
to see who is owner of record
why should we view prelim or profile before list appointment
Government Title Insurance
vs
Private Insurance
MIP vs PMI
VA appraisals are much more "picky" and take longer to get done than a conventional, T or F
False
Usually split 50/50 on most RPAs
Escrow Fees
Can you think of anybody else who might benefit from my services?
Ask for the REFERRAL
who supplies us with a prlim
escrow/title company
Greater than 80% LTV Purchase
When Mortgage Insurance is required
If an appraisal come in at value, it may still pause the transaction if it also contains...?
Conditions
$5.10 per thousand
Nevada Tax Stamps on Real Property
When we first started, we talked about.......hopefully you feel that I ......
Confirming we met expectations
Conservation/IRS/Mechanic
Liens found on prelim
P.I.T.I.
Principle Interest Taxes Insurance
Income / Relpacment / Fair Market
types of valuation contained in a standard appraisal
Usually returned to Seller within 30 days of COE by Seller's Lender
Impound/mtg escrow account balance
Best business practice is to be present if possible at
Signing appointment at escrow
Copy of Tust Docs
What is needed if Prelim show a Trust (TE) aw owner
Name of process when a lender collects principle,interest,taxes & insurance in your monthly payment
Impoinds
Who orders the Appraisal
Buyers Lender
Always required, usually paid be Seller
Owners' Title Policy
CRM - Past Clients
Where we update info on clients we just closed