Good Faith Estimates
Closing – or settlement as it is known in some parts of the country — is a term used for the point in time at which the title to the property is transferred to the buyer and, generally, a mortgage (or "deed of trust") is given by the buyer/borrower to the lender.
Some information about the costs associated with closing on your home should be provided to you before you put a contract on a house. This information is known as a good faith estimate.* * From the American Land Title Association (ALTA). For a good faith estimate of closing costs in a residential real estate closing (whether purchase or refinance), please call or email Sabrina Price at Sabrina@theshaheenfirm.com or (540.552.3390). |
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