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E34: Listen Up Homebuyers – Responsibilities of a Settlement Agent

Jul 26, 2022Listen Up Home Buyers

Episode Summary

On this episode of Listen Up Home Buyers! Meet Peter Parente a settlement & business development officer with Stewart Title. Peter talks with host Victoria Ray Henderson about the role of the title office in a real estate transaction.

E34: Listen Up Homebuyers – Responsibilities of a Settlement Agent

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Episode Notes

Victoria Ray Henderson, the host of Listen Up Home Buyers! Talks with Peter Parente. Peter is a Settlement and Business Development Officer with Stewart Title working out of the Washington, D.C. office. Follow Peter’s Instagram is @titlepartnerpete

1:03 What does a title company do?

1:15 The buyer has the right to choose the title company

1:35 What are escrow funds?

1:58 Second portion of the escrow funds

2:28 How do you evaluate settlement offices?

3:21 Look up who will be the insurer

3:43 Why should a buyer consider owners’ policy insurance?

4:25 An example of a situation where owners title insurance may be necessary

5:00 Another example of where owners’ title insurance was used

5:30 What is lenders’ title insurance?

6:08 How should you evaluate settlement charges?

7:12 In the loan estimate, everything should be disclosed upfront

7:43 When shopping lenders, the title fees will be included in the estimates

8:10 What is a boundary survey?

8:40 What is a location drawing?

9:12 Flood insurance

9:30 Stewart Title is an option for buyers

As Stewart can close in all 50 states

10:11 Peter Parente is a settlement office and does marketing for buyer agents

11:15 Peter shares a personal experience of living in the Netherlands

12:10 How to properly wire funds for closing

To avoid wire fraud

13:00 Always check with the lender and/or title company regarding wiring funds

13:44 @titlepartnerpete on Instagram

Contributors

Victoria Ray Henderson
Peter Parente

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