Title and deed are often used interchangeably, but they are not the same. To start with, title is a concept, it is not a physical thing. Title is the idea of ownership, the idea of being entitled to something. Many cultures used to transfer title/ownership with spoken...
In a condominium, the difference between deeded parking and assigned parking is significant. A deeded parking space is primarily under the control of the unit owner, while an assigned parking space is under control of the homeowners’ association. If parking is...
Teams and groups continue to be a popular way for brokers to run their businesses. By working together, brokers can pool their resources to expand their collaborative practice instead of each broker operating individually. That is, one broker might focus on buyers...
To get a Washington real estate license, you must apply with the Washington Department of Licensing and be at least 18 years of age, have a high school diploma or GED, pass the OnlineEd 60-hour real estate fundamentals course, pass the OnlineEd 30-hour real estate...
The appraisal is a critical part of the financing process for the borrower and the lender, but not every real estate broker understands appraiser independence requirements. After the buyer’s credit and debt to income ratios are reviewed, and the home passes...
The preliminary title report reports the condition of title for a specific piece of real estate. It is a preliminary commitment by the title company for title insurance. The “final” title report is issued soon after closing. The real estate purchase...
