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Real Estate TriviaEnjoy! |
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Originally incorporated under the name Georgiana, what is the oldest incorporated city in the United States? |
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York, Maine, which received an English charter in March 1642, is the oldest incorporated city in the U.S. |
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What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home? |
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One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
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Who is "Fannie Mae" and why is she a big name in real estate? |
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"Fannie Mae" is the real estate industry nickname for FNMA, or Federal National Mortgage Association, the stockholder-owned corporation that purchases mortgages from mortgage lenders. |
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What five basic components of a "smart home" can be controlled by technology? |
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Lighting and window treatments, security and access control, data communication, environmental/energy management, and audio/video entertainment can all be operated by a "smart home". |
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Real Estate Tips
Closing or Settlement >Closing Dates
The final closing date is an important item in the negotiation of the purchase agreement on a home. This is the day when the buyers get their ownership papers and the sellers get their money. It is important to remember that most standard contracts don't pinpoint a specific date, and closings can be delayed due to factors beyond the buyer's control.
The closing will usually be set as soon as the title search and lender's paperwork can be completed. However, any number of factors can interfere with the closing schedule. For example, questions can arise about liens against the property that were paid, but not properly recorded. Items in the buyers credit history may have to be cleared up. These situations rarely cause the transaction to fall apart, but they can wreak havoc with your moving schedule. Your real estate agent will keep you up to date on the progress of your closing in order to avoid delays and minimize any inconvenience.
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See All Tips In The "Closing or Settlement" Category > |
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See Complete Library Of Hundreds Of Tips In 30+ Categories > |
Real Estate Trivia
| Q | What areas are known as the 'silk stocking' districts of this famous city? |
| A | In Central Park West, Fifth Avenue and Park Avenue in Manhattan, apartments go for $222,610 to $282,709 per room. |
| See More Real Estate Trivia > |
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