House Buying Tips

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

Key Takeaways Home inspection costs typically range from $300–$600 for a standard single-family home in the DMV, with larger or older homes at the higher end. The inspection is paid by the buyer directly, regardless of the transaction outcome — it is not included in closing costs and is typically due at the time of

Key Takeaways Buyers typically pay most closing costs — appraisal, loan origination, title search, owner’s and lender’s title insurance, escrow deposit, and prepaid taxes and insurance. Sellers almost always pay the real estate commission (5–6% of price); other closing costs are negotiable and depend on local custom and market dynamics. In a cash sale, lender-related

Key Takeaways Maryland’s Critical Area is a 1,000-foot buffer around the Chesapeake Bay and its tributaries — development, landscaping, and impervious surface coverage are strictly regulated within this zone. Properties within the Critical Area are subject to special landscaping requirements: significant tree removal requires permits, and replanting requirements apply even for storm damage. Buyers of

Key Takeaways A land contract (installment sale contract or contract for deed) is a seller-financing arrangement where the seller retains legal title until the buyer completes all payments. The buyer takes equitable title and possession but the deed is not transferred until the contract is fully paid — default can result in the buyer losing