Escrow Questions
What is HARPTA/FIRPTA?
In the simpliest of terms, this is when escrow withholds money from the sale to pay taxes to the state of Hawaii and the United States government. Certain situations applies, more information can be found here: HARPTA/FIRPTA. Courtesy of Old Republic Title and Escrow
How to Hold Title
If you don't deal with real estate every day like I do, here are explanations of the different ways you can take title to a property. Click the following link to view the different ways: TITLE. Courtesy of Old Republic Title and Escrow
Preliminary Title Reports
A title report is essentially a history of ownership in regard to a specific property. Most of it is written in legal speak. Here's a useful flyer on how to read the report: PRELIMINARY TITLE. Courtesy of Old Republic Title and Escrow
Title Insurance
What is and why do I need title insurance? Do I have to have title insurance? Can I pick the title company? All of these questions and more are answered by clicking the following link: TITLE INSURANCE. Courtesy of Old Republic Title and Escrow
Conveyance Tax
When property is sold, the government will take their share of taxes. The question is how much. The following chart shows the breakdown but know that prices are subject to change: CONVEYANCE TAX. Courtesy of Old Republic Title and Escrow
Payment Breakdown
Closing costs are divided up between the buyers and sellers. As to how much, this is the typical breakdown: BUYER & SELLER COSTS. Courtesy of Old Republic Title and Escrow
Success in Escrow
Buyers and Sellers have agreed to a price and conditions. Now the nitty gritty work starts. Money exchanges hands and due dilligencies are in process. To have a successful escrow, please keep in mind these helpful hints: ESCROW. Courtesy of Old Republic Title and Escrow
1031 Exchange
If you sell and investment property, you can deferr capital gains by rolling that investment into another investment. There are conditions, learn more by clicking this link: 1031 EXCHANGE. Courtesy of OREXCO
Foreign Investors Guide
When buying and selling as a non US citizen, there are a few more steps to follow. The following link will bring you to a guide that should make things a little easier: FOREIGN. Courtesy of Old Republic Title and Escrow
