Hope Teller

Key Takeaways An earnest money deposit (EMD) is a good-faith payment made by the buyer when submitting an offer — typically 1–3% of the purchase price in the DMV. EMDs are typically held in escrow by the listing brokerage or the title company and applied to closing costs at settlement. Contingencies protect your EMD: if […]

Key Takeaways A Closing Protection Letter (CPL) is issued by the title insurance underwriter and protects the lender, buyer, or seller from mistakes or fraud by the title agent handling escrow. Lenders almost always require a CPL on every transaction; the fee (typically around $25, one time) is most often paid by the buyer. Coverage

Key Takeaways Title insurance costs depend on home price, location, and policy type — owner’s policies are price-based, lender’s policies are loan-amount-based. Most states regulate title insurance rates, so quotes from competing companies are similar — but you still have the right to shop and bundle. Premiums use a sliding rate-per-thousand: higher-value homes pay less

Key Takeaways The Closing Disclosure (CD) must reach the borrower at least three business days before closing — this is the federal “Three Day Rule.” Business days include Saturdays but exclude Sundays and federal holidays, so a Friday closing requires the CD by the preceding Tuesday at the latest. Three triggers reset the three-day clock:

Key Takeaways A property easement grants a specific, limited right to use someone else’s land for a defined purpose — utility corridors, right-of-way access, drainage easements. Easements are typically recorded against the property and appear in the title search — they transfer with the land when it is sold. Easement holders must use the easement