Real Estate and Mortgage Disclosures
Last modified June 10, 2023Disclosures are part of all residential Mortgage transactions to comply with Federal Laws. In some real estate transactions, Disclosures are added to reveal or make known certain material facts of the property. These disclosures are designed to make the Buyers aware of certain facts that pertain to the physical condition of the property. They are also used as a recognized risk reduction tool for Real Estate Brokers.
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Top 10 terms for First-Time Home Buyers:
- VA funding fee
- Buyers Closing Costs you'll want to know about.
- ALTA (American Land Title Association) Closing Disclosure Statements
- Title company Escrow account
- Survey Fee
- Buy Down
- Buyers market definition
- Lender Inspection Fee
- Homeowner's or Hazard Insurance policy
- Government Sponsored Entity or GSE