Showing posts from November, 2020

Closing Costs in Review

 Purchasing and selling real estate complex transaction that requires diligence from all interested parties. Before any funds are disbursed, closing costs are checked and balanced among lenders, agents, and title companies to ensure everything is accounted for and is the obligation of the correct person(s). These expenses are called closing costs and must be satisfied before the real estate transaction can be completed. Arrowhead Title , your premier title company at the Lake of the Ozarks , is here today to clarify closing costs, what they are and who is responsible for them. What is Included in Your Closing Costs? While there are a few costs that will vary between transactions, there is a standard set of fees that are commonly seen among the closing costs for nearly every transaction. They are as follows: Loan Origination Fees Appraisal Fee Survey Fee Underwriting Fee Property Tax Fee Title Insurance Title Search Homeowners Insurance Homeowners association fees (if applicable) These

4 Common FAQ's About Escrow Services

 When closing on a real estate transaction, you may hear the term "escrow" thrown around. If you're unfamiliar with the real estate closing process, you may find yourself having a difficult time understanding all of the industry terminologies. At Arrowhead Title, the best title company at the Lake of the Ozarks , we strive to provide prompt and accurate title escrow and settlement services to our clients. We believe that educating clients on their real estate transactions can help make the process easier. Today, we are going to be discussing escrow services at the Lake of the Ozarks . Read on to learn more! What is an Escrow Account? An escrow, or "reserve account," is an account that is set up by a third-party to be used as a central source of funds for paying the mortgage obligations. These accounts are used to help protect the lender's investment in a buyer by having the account reserves added before payments are due. This is a beneficial item in the tran

Understanding Closing Documents

Closing day is an exciting time for all involved, the buyer, seller, and agents are all ecstatic about the day all the hard work comes to fruition! All that's standing in the way of you and your new dream home is a small rainforest worth of paperwork to sign. As the best title company at the Lake of the Ozarks , Arrowhead Title understands that these documents aren't common knowledge, and the legal terminology can be quite daunting to those unfamiliar. That's why we're here to shed a little light on some of the documents you can expect to see at your Lake of the Ozarks real estate closing . The Loan Application This document will look familiar, as it is an exact copy of the loan application that you completed during your application for a mortgage loan. It's wise to double-check all line-items listed and ensure that the bottom dollar matches what was agreed upon. This also allows your mortgage lender a review of the application to ensure that nothing has changed th

Tis' The Season to Buy Your Vacation Home

As we head into the holiday season the thought of gift-giving, holiday trips, and celebrations with family and friends begin to fill the mind. What better gift to give yourself this holiday season than the Lake of the Ozarks vacation home that you've always dreamed of!? At Arrowhead Title, your premier title company at the Lake of the Ozarks , our decades of experience have shown us that buying a home during the holiday season has several advantages. In this week's blog, we'll showcase a few key reasons why buying real estate at the Lake of the Ozarks this holiday season could be a behooving move for you! The Pricing Trend The law of supply and demand holds true even during the holiday season. As the active spring and summer months bring a surplus of demand for buying homes before they miss out on the vacation season at the Lake of the Ozarks, prices skyrocket. By the time the holiday season has rolled around, homes still listed have been on the market for some time and a