When buying real estate, your real estate agent will provide you with countless forms to fill out on or before closing day. The sheer amount of paperwork can be overwhelming, especially for first-time buyers. That’s why it can be easy to miss one particular form required by the Real Estate Settlement Procedures Act of 1974 … [Read more...] about What Are Affiliated Business Arrangements in the Real Estate Industry?
Real Estate Services
New Jersey Title Insurance CSL Changes
The Department of Banking and Insurance approved a request from the New Jersey Land Title Insurance Rating Bureau for an increase in the charge for issuance of a Closing Service Letter ("CSL") from $25.00 to $75.00. The said increase is going into effect on June 1, 2012, and it applies to all applications for New Jersey Title … [Read more...] about New Jersey Title Insurance CSL Changes
New Jersey Title Insurance and Riparian Rights
As per Stewart Title Insurance Company there has been an increase in claims arising from the failure to take exception for riparian lands that have not been granted by the State of New Jersey. It made me realize and think that I bet most consumers nor real estate professionals even understand the ins and outs or even what … [Read more...] about New Jersey Title Insurance and Riparian Rights
New Jersey Title Insurance & Mechanic’s Lien Issues
Over the past several years most New Jersey title insurance underwriters have seen a increase in mechanic's lien claims specifically on condominium projects. Problems arise when developers sell condominium units prior to completion of all construction on the condominium project. Mechanic's lien claims are then filed against the … [Read more...] about New Jersey Title Insurance & Mechanic’s Lien Issues
New Jersey Title Insurance Settlement Fees
NJ Settlement Fees Unlike other states the State of New Jersey mandates not only the charges for NJ Title Insurance but also the actual settlement fees. In many states it is common for a buyer/borrower to not have to pay any closing fee, especially when settlement is held at the title company. However, a NJ Title Company must … [Read more...] about New Jersey Title Insurance Settlement Fees
