This fundamental course will provide you with current procedural guidelines and tools necessary to handle your transactions from contract to closing. (see
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Learn the Fundamentals of Real Estate Closings
Are you confident in your abilities to close complex real estate transactions? Are you behind on current trends or looking to learn new ways to navigate the process? This fundamental course will provide you with current procedural guidelines and tools necessary to handle your transactions from contract to closing. The world of real estate is ever-changing and remaining up to date on legislative requirements and best practices is vital for success. Don't miss this opportunity to learn the latest information and techniques to guarantee a positive experience. Register today!
Walk through the real estate closing process and procedures with useful checklists.
Understand current RESPA requirements necessary for HUD compliance.
Know the critical steps for a successful closing.
Review local procedures to properly record deeds.
Maintain an ethical practice by avoiding conflicts of interest and attorney pitfalls.
STEPS PRECEDING THE PROPERTY CLOSING 9:00 - 10:00, Charles T. Engel
Real Estate Transaction Preparation Checklist
Correctly Defining the Property's Legal Description
When to Use Easements vs. Licenses vs. Leases
Overview of Title Examination Procedures
The Purchase Contract and its Importance
Financial and Non-Financial Encumbrances
Title Insurance – Coverage and Use
The Title and Survey Review Function
Post-Contract Due Diligence
Loan Commitments – Lender vs. Borrower
RESPA: NECESSARY INFORMATION FOR COMPLIANCE 10:15 - 11:15, Brian M. Jacques
RESPA at the Time of Loan Application
Special Information Booklet
Good Faith Estimate (GFE)
Mortgage Servicing Disclosure Statement
Disclosures before Settlement
Affiliated Business Arrangement (AfBA) Disclosure
HUD-1 Settlement Statement
Disclosures at Settlement
Initial Escrow Statement
Disclosures after Settlement
Annual Escrow Statement
Servicing Transfer Statement
Statutes Clarified: Consumer Protections and Illegal Practices