Land contract explanation & how a closing works on it

Buyer/ Seller – Education, Lenders – Education, Real Estate Professionals – Education

A land contract is nothing more than a rent-to-own agreement.  It is NOT a purchase transaction, it IS an agreement to purchase the property at a future date.  A land contract IS an agreement to purchase a property at a future date, at an already agreed-upon price,...

How to convey difficult news

Buyer/ Seller – Education, Lenders – Education, Real Estate Professionals – Education

Don’t be afraid to address the potential “tough stuff”, gently, directly, and confidently: 1) As soon as you hear about bad news for your client,get moving on identifying solutions as quickly as possible.2) Say have bad news, and options to solve the problem (Options...

Title commitment – what is it, each part, why

Lenders – Education

Coming...

How to estimate escrows in Kentucky – Taxes in KY & Collection

Lenders – Education

Estimating escrows in Kentucky is the same in all 120 counties.   What’s “escrow”? Your monthly payment usually includes the amount to pay back your loan each month (principal and interest), plus 1/12th of your annual property tax bill, and 1/12th of your annual...

Property Taxes in Kentucky and Fayette Co.

Buyer/ Seller – Education, Lenders – Education, Real Estate Professionals – Education

Property Taxes in Kentucky (Fayette Co. is below) 1. They are paid in arrears, annually, on a calendar year. 2. All bills get mailed out sometime during the month of October, by each county’s sheriff’s department. 3. Tax bills most always get mailed to whoever the...