Important news before you travel:
If you are in the United States you should be aware of certain Travel Advisories which are given to citizens who choose to travel abroad. These advisories can affect you and may even change your travel plans. So before you go to the airport you should always check to see if your destination country is on the List of the United States Government Travel Advisories.
For more information: Check out the link below which will send you to the US Governments official website.
YOSEMITE NATIONAL PARK
Yosemite National Park is located in California’s Sierra Nevada mountains. It is best known for its waterfalls, but within its nearly 1,200 square miles, you can find deep valleys, grand meadows, ancient giant sequoias, a vast wilderness area, and much more. More than 5 million people visit Yosemite each year....read more
GOING TO LONDON'S HEATHROW?
Heathrow Airport is used by over 90 airlines flying to 170 destinations worldwide. The airport is the primary hub of British Airways, and is a base for Virgin Atlantic. With 190,000 passengers arriving and departing every day, Heathrow handles more international passengers than any other airport in the world.
Of Heathrow's 69 million passengers in 2011, 7% were bound for UK destinations, 41% were short-haul international travellers and 52% were long-haul. The busiest single destination in passenger numbers is New York, with over 3.8 million passengers between Heathrow and JFK / Newark airports in 2011. The airport has five passenger terminals (numbered 1 to 5) and a cargo terminal.
Full body scanners are now used at the airport, and passengers who object to their use after being selected are not allowed to fly...read more
THE WILDERNESS OF ALASKA
Alaska is more than just the largest state in America it is one of the largest natural untouched places in the world. There is so much to do and see in Alaska whether you prefer to hike on an ice age glacier...read more
YELLOWSTONE NATIONAL PARK
Yellowstone national park is a wonderful place to go on vacation. Old Faithful and the majority of the world's geysers are preserved at Yellowstone. They are the main reason the park was established in 1872 as America's first national park...read more
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HOW REAL ESTATE CLOSING WORKS
If you are thinking about buying a vacation home you should know the basics in the Real Estate closing process. The rules vary by location so you will need to find your state's or city's real estate rules to make sure you have the correct information. But generally speaking the process can best be described as the following:
Closing or “settlement” is when you will sign the final mortgage documents and the property will be legally transferred to you. It typically involves you and any co-borrowers, a closing agent and your real estate agent, although closing practices may vary in your local area.
The closing date is set during the negotiation phase, and is usually several weeks after the offer is formally accepted. On the closing date, the parties consummate the purchase contract, and ownership of the property is transferred to the buyer. In most jurisdictions ownership is officially transferred when a deed from the seller is delivered to the buyer.
Several things happen during closing:
-The buyer (or his/her bank) delivers a cheque (generally in the US, a Cashier's check or wire transfer) for the balance owed on the purchase price.
-The seller signs the deed over to the buyer, and delivers the keys.
-A title company, lawyer or civil law notary registers the new deed with the local land registry office.
-The seller receives a cheque or bank transfer for the proceeds of the sale, less closing costs and mortgage payouts.
Closing in escrow usually occurs in states in the western half of the US. A title company (rather than a lawyer) or other trusted party holds the money and the signed deed, and arranges for the transfer. This is primarily so that the seller can give up ownership of the property, and the buyer can hand over the payment, without both parties having to be present at the same time. Escrow ensures an orderly transaction, or if something goes wrong, an orderly termination of the agreement.
On the Eastern side of the US, settlement (as closing is called) takes place on a specified date and time during which all parties (usually including the agents involved) meet at a settlement company presided over or supervised by a lawyer or settlement agent. At that time, the settlement agent disburses all funds listed on the settlement statement (in form of certified or wired funds) and the property exchange takes place, and the deed is then recorded by the company.
When preparing for the loan closing you should contact your closing agent to determine how much money you will need to bring to closing and any other steps for completing the purchase of your home.
You will sign many documents at closing and it is important that you read the documents carefully and ask as many questions as necessary. These documents include:
The Mortgage Note. A legal document that provides evidence of your debt and your formal promise to repay the mortgage loan.
The Mortgage or Deed of Trust. The security instrument that you give to the lender that protects the lender’s interest in your property. When you sign the deed of trust, you are giving the lender the right to take the property back by foreclosure if you fail to pay the mortgage according to the set terms.
The final Truth-in-Lending Disclosure. This document reflects any changes to the terms of your mortgage loan since your application date.
Affidavits and Declarations. Statements declaring something to be true, such as the property will be your principal place of residence.
The HUD-1 Statement. Discloses the final details of your mortgage loan including:
The actual settlement charges you will be paying
A comparison of the costs disclosed on your GFE to the costs being charged at closing
Your final loan terms
Tips for Closing
Avoid feeling rushed by reading all the documents that will be sent to you prior to closing. Oftentimes, real estate agents will review your documents in detail with you before the closing date to ensure you are comfortable. Don’t hesitate to ask your agent for this.
Don’t be afraid to ask questions about the legal terminology in closing documents. It is important that you understand everything you are signing; most homebuyers ask a lot of questions and it is expected.
The documents in the mortgage process are the same for everyone, regardless of race or ethnic origin.
Consider having an attorney look at the documents or attend the closing with you.
Closing on a home involves a number of important steps. Make sure to pay the same level of attention to these steps as you did when you were house hunting.