Buying Your Home:
Settlement Costs and Information
II. Buying and Financing a Home
Selecting a Settlement Agent
Settlement
practices vary from locality to locality, and even within the same county
or city. Settlements may be conducted by lenders, title insurance companies,
escrow companies, real estate brokers or attorneys for the buyer or seller.
You may save money by shopping for the settlement agent.
In some
parts of the country (particularly western states), settlement may be conducted
by an escrow agent. The parties sign an escrow agreement which requires
them to provide certain documents and funds to the agent. Unlike other
types of settlement, the parties do not meet around a table to sign documents.
Ask how your settlement will be handled.
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