Remove Insurance Remove Market Value Remove Real Estate Agent
article thumbnail

What do the D.C. attorney general’s actions mean for the future of title joint ventures?

Housing Wire

For more than two years, a storm has been brewing in the title insurance industry. The four firms in question all had joint ventures (JVs) or affiliated business arrangements (ABAs) in which real estate agents, who were also business referral sources, were investors. Unlike RESPA, the D.C. Unlike RESPA, the D.C.

Insurance 459
article thumbnail

Selling your home to a family member in 5 easy steps

Housing Wire

A controlled transaction can be subject to tighter IRS scrutiny, especially if the property is sold below fair market value. Assemble a team of professionals You might think that if you and your family member have already agreed on the major selling points, a real estate agent is unnecessary to complete the transaction.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Joint ventures between title firms and real estate companies are under the microscope

Housing Wire

AI-generated image of two lawyers scrutinizing title insurance joint venture agreements. In 1983 Jim Campbell launched what is believed to be the first joint venture experiment between a real estate brokerage and a title and settlement firm. Image was created using MidJourney.

article thumbnail

Seller impersonation fraud threatens American homeownership

Housing Wire

Scammers pose as property owners and contact a real estate agent to list the property for sale. The listing price of the property is typically set below the current market value to generate immediate interest in the property. The identity of the landowner is also obtained through these public records searches.

Sellers 370
article thumbnail

Remember liar loans of a decade ago? Those same people want to do away with appraisers.

Miller Samuel

As we say in the petition , this change can impact several groups in particular: consumers, the taxpayers, the housing market and appraisers. One group not explicitly mentioned in the petition but impacted down the road are real estate agents and brokers.

Appraisal 300
article thumbnail

The title industry’s latest cat-and-mouse game: seller impersonation fraud

Housing Wire

Then, posing as the property owner, the scammer contacts a real estate agent to list the property. The property is then listed, typically below market value to generate interest in the listing. Oftentimes this leads to the discovery of vacant lots.

Sellers 397
article thumbnail

Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. As the home buyer of this piece of real estate, you’re entitled to choose the title company.

Buyers 207