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Real Estate Tips
Real Estate Contracts >Legal Documents
The stacks of papers that you have to sign in order to buy a house can leave you confused. The person conducting the closing will ask you to sign your name to countless documents that are filled with legal jargon. Some buyers just barely glance at each form and sign them without a lot of questions, while others find it very frustrating to try to read every form at the closing table.
You should read and understand the papers you sign. If you are getting a loan to buy the property, most of the paperwork will come from the mortgage company. In most cases, there is little time to read everything in advance because the forms arrive at the closing office shortly before closing is scheduled to begin. Most of the documents use standardized language, however, and you should be able to get copies of the documents ahead of time from the lender so that you can have your questions answered and be comfortable with the settlement process.
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Real Estate Trivia
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What does the abbreviation PITI stand for?
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Principal, Interest, Taxes and Insurance are the four major items included in a monthly mortgage payment. |
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Jim Rideout Jr., MBA - Maine Stream Team Coldwell Banker Rizzo Mattson Realtors 219 Capitol Street Augusta, ME 04330 JR Cell: 207-485-1105 CB Cell: 207-592-6043 Office: 207-622-9000 Ext 129 Fax: 207-622-7283 Toll Free: 800-894-7979 MaineStreamTeam@aol.com
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