Tag Archive for: contracts

Appraisers Need Ratified Contracts & Comps That Close Prior to Inspection

APPRAISERS NEED RATIFIED CONTRACTS This is a reminder that we need a fully ratified contract (signed by all parties) before we can order an appraisal. This is a regulatory requirement and many appraisers won’t even accept orders without ratified contracts. Appraisers need ratified contracts so they can review all the terms within it to see […]Read More

Helping Lender Close On Time: Complete/Clean Contracts & Addenda a Must

We often remind Realtors, Escrow Officers and Borrowers that “everyone has to be on board” if we are going to close on time, especially if we’re closing in 15 days. Realtors are often unaware, however, that they are sometimes the biggest impediment to closing on time. For starters, we need escrow information, basic contract terms […]Read More

No Good Deed Goes Unpunished; Put In Writing; Cross T’s; Dot I’s

Years ago, Heejin loaned $50,000 to a friend of a friend as a second mortgage. She recorded the mortgage but did not worry about all the regulatory particulars b/c her loan had extremely favorable terms, it saved the borrower from imminent foreclosure, and the borrower was a close friend of a close friend. The borrower, […]Read More