Montrose, CO Office

Moab, UT Office

Certified Check - A check drawn on the issuer's account for funds that have been segregated by the bank, thus guaranteeing sufficient funds for payment.

Chain of Title - The chronological order of conveyance of a property from the original owner to the present owner.

Chattel - A movable item of personal property.  A mobile home that has not had it's title purged is considered chattel.

Clear Title - A marketable title, free of clouds and disputes.

Closing (or Settlement) - Meeting between the buyer, seller and lender or their agents at which property and funds legally change hands.

Closing Costs – Fees incurred in a real estate or mortgage transaction and paid by borrower and/or seller during the closing of the mortgage loan. These typically include a loan origination fee, discount points, attorney’s fees, title insurance, appraisal, survey, and any items which must be pre-paid, such as taxes and insurance escrow payments. The costs of closing usually are 3 to 6% of the mortgage amount.

Closing Statement (Settlement Statement) - Financial disclosure statement that lists the funds received and expected at the closing.