Your Real Estate Closing Explained Simply: What Smart Buyers & Sellers Need to Know [Paperback]

Michelle Blain (Author)

Book Description

Publication Date: July 30, 2007

Congratulations! You have entered into a contract to buy your first home, investment property, or that special vacation getaway place. The closing date is set, but now what do you do? This new book is a complete and thorough explanation of the real estate closing process and escrow. (Escrow is a neutral third party that follows the instructions from buyer and seller of the property. It makes sure that the required funds are in the escrow account before the deed to the home is recorded in the buyer's name.) Written in everyday, easy-to-understand English this book will help you save time and money as well as guide you around pitfalls. Some of the subjects covered are the contract, mortgages, your closing agent, title commitment, survey, deed, bill of sale, affidavit of title, leases, assignment of leases, assignment of contracts, estoppels letters, utility letters, payoff letter for mortgage, condo letter, right of first refusal, assessments, utility bill, certificate of insurance, closing statement, power of attorney, grantor/grantee affidavit, transfer tax declaration, zoning certificate, affidavit of heirship, death certificate, commission statement, personal information affidavit, joint tenancy affidavit, ALTA statement, photo ID, keys, termite inspection, general inspection, mortgage contingency, attorney approval contingency, lead paint disclosure, RIPTA disclosure, environmental issues, soil test, structural tests, utility readings and name changes, tax bill, Real Estate Settlement Procedures Act (RESPA), seller identification, trustees, trustee s deed, trustee s ALTA, trustee s pay proceeds letter, mortgage options, note, mortgage disclosures, title, leases, estoppels letters, and buyer's insurance and certificate. The book includes numerous forms and easy-to-use checklists as well as information particular to each state.

Product Details

• Paperback: 288 pages
• Publisher: Atlantic Publishing Company (FL) (July 30, 2007)
• Language: English
• ISBN-10: 1601380321
• ISBN-13: 978-1601380326
• Product Dimensions: 8.9 x 6.6 x 0.7 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (9 customer reviews)
• Amazon Best Sellers Rank: #113,564 in Books (See Top 100 in Books)
  • #28 in Books > Business & Investing > Industries & Professions > Purchasing & Buying
  • #28 in Books > Business & Investing > Real Estate > Mortgages
  • #57 in Books > Business & Investing > Real Estate > Buying & Selling Homes

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Customer Reviews

Most Helpful Customer Reviews

4 of 5 people found the following review helpful:

5.0 out of 5 stars This book gave me the confidence to get into real-estate investing!, September 27, 2007

By 

Jason Seagraves (Saginaw, Michigan) - See all my reviews
(VINE VOICE)    (REAL NAME)   

This review is from: Your Real Estate Closing Explained Simply: What Smart Buyers & Sellers Need to Know (Paperback)

Of all the steps involved in buying or selling a personal residence or investment property, "the closing" is by far the most confusing, intimidating, and to most people, completely baffling of all. Almost everybody has been involved in one or more closings, and yet few of us can remember many details since we fail to understand exactly what's going on. I believe that Realtors and real-estate attorneys help perpetuate this confusion as a means of ensuring the typical consumer's dependency upon them during the closing process. Well with this excellent manual, you can graduate from being a "typical consumer," to being a near-expert in all elements of "the closing."

As I stated in an earlier review, I've read and reviewed numerous real-estate investment books here on Amazon. Most of them have been more inspirational than truly informative. This book, along with Charlie Rose's Inspect Before You Buy (which I read one after the other), succeeds because it does not attempt to be an all-in-one "become a real-estate expert" guide. Instead, it gets deep into the details of the closing process -- everything from making an offer, to escrow, to titles and title insurance, etc.

One thing that has prevented me from taking the plunge into real-estate investment is my lack of confidence when it comes to things like closing. Other real-estate books, for which closing is maybe a chapter (more likely a sub-section of a chapter) present closing as if it's no big deal, but fail to provide the reader with the information and details that make him really believe that it's no big deal. This book breaks down every aspect of closing in plain English, in a way that makes me feel like I'm ready to go to the negotiating table with any veteran Realtor or real-estate attorney. It is highly recommended!

2 of 3 people found the following review helpful:

5.0 out of 5 stars Explained Simply, March 12, 2008

By 

David Noon (Juneau, AK) - See all my reviews
(REAL NAME)   

This review is from: Your Real Estate Closing Explained Simply: What Smart Buyers & Sellers Need to Know (Paperback)

Purchasing or selling a house ranks among the most stressful events in life, in no small part due to the legal complexity of the closing itself. It is never a stress-free process, and participants are well advised to read as much as possible before agreeing to terms and concluding the sale. Once the closing is finished, there's no turning back. A little bit of knowledge can save thousands of dollars and avoid weeks -- or longer -- of sleepless nights.

This book provides a lucid, readable and highly practical introduction to the entire process. The book covers the pros and cons of using attorneys; offers useful tips on finding the best real estate agent for the sale; and in clear language explains the avalanche of legal terms that can overwhelm even the most educated buyers and sellers. The book is loaded with charts and to-do lists (e.g., examples of home inspection forms, checklists for moving day, etc.) that make it a useful resource in many ways.

If my wife and I had used a book like this when we bought our home five years ago, we'd have been able to negotiate conditions that would have saved us at least $4500. Fortunately, we won't be so ill-informed next time.

5.0 out of 5 stars Closing costs, legal processes, and options are covered, December 1, 2007

By 

Midwest Book Review (Oregon, WI USA) - See all my reviews

This review is from: Your Real Estate Closing Explained Simply: What Smart Buyers & Sellers Need to Know (Paperback)

Michelle Blain's YOUR REAL ESTATE CLOSING EXPLAINED SIMPLY covers all the financial and legal concerns surrounding the closing process, the last leg of a home buying effort. Closing costs, legal processes, and options re covered through a series of checklists and charts plus online references, all of which will make the process easier, especially for beginners.