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real estate closing

4. Dress Code for Home Closings**

Realtor-Client Double Standard There are really only two rules when it comes to proper attire for a home closing: 1) the Realtors and other professionals (closers and lender) should wear formal business attire (sorry, no “business casual”); 2) clients can wear whatever they want. Which I guess means there’s only one rule. For men, at...
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What’s in a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement”

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . . the settlement statement (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal...
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What’s in a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement”

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . . the settlement statement (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal...
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Pro Rata Property Taxes and End of June Closings (December, Too)

Debits & Credits, Credits & Debits In the vast majority of real estate closings in Minnesota — 99.45%**, to be exact — the title companies doing the closing have to calculate a  pro rata property tax adjustment between the Buyer and Seller That’s because in Minnesota, homeowners pay property taxes twice a year (May 15...
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Dress Code for Home Closings**

Realtor-Client Double Standard There are really only two rules when it comes to proper attire for a home closing:  1) the Realtors and other professionals (closers and lender) should wear formal business attire (sorry, no “business casual”); 2) clients can wear whatever they want. Which I guess means there’s only one rule. For men, at least,...
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9. What’s in a Name? From “Settlement Statement” to “HUD-1” to “ALTA” Back to “Settlement Statement”

“The More Things Change” Department Once upon a time, when I started selling real estate in 2002, the worksheet that Buyers and Sellers signed at closing was simply known as . . . the settlement statement (or just the closing worksheet, to avoid any jargon). Then it became the “HUD-1” (HUD stands for “Housing and Urban Development,” the federal...
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