Video Review: 'Understanding Closing And Settlement Costs'

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"Understanding Closing And Settlement Costs," won't really give you a full understanding of closing and settlement costs in residential real estate, but it is a good first introduction to the esoteric title and escrow process and associated costs. Read through to the three-part "Title and escrow services under fire again" series.

by Broderick Perkins
© 2008 DeadlineNews.Com

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Deadline Newsroom - Video: 'Understanding Closing And Settlement Costs'

"Understanding Closing And Settlement Costs," won't really give you a full understanding of closing and settlement costs, but it is a good first introduction to the esoteric title and escrow process and associated costs.

Rather than a detailed step-by-step dissertation on title and escrow -- which many consumers really need before the home buying begins -- the two-minute Federal Title & Escrow Co. video is useful as a primer to get you into the basics of the process.

"This video describes the settlement process in laymen's terms," says Nikki Smith, marketing director Federal Title & Escrow Company.

"Many home buyers don't realize they can choose their title company, and a lot of times they allow the real estate agent or mortgage lender to choose for them. Consequently they may end up paying more than necessary for settlement costs," Smith adds.

She also said, "Transparency in the title insurance industry very important to us, and we believe the consumer has a right to know they have the freedom to decide which title company handles their transaction."

For greater detail on the title and escrow process, read Examiner.com's three part series "Title and escrow services under fire again".

• Part I: What is it this time?

• Part II: Title, escrow services necessary

• Part III: Shop around for title, escrow services





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© 2008 DeadlineNews.Com

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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.

Perkins is also the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner

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