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What Is A Settlement?

Fri Mar 29, 2019 on Blog & Florida Real Estate

What is a settlement?

Video: What Is A Settlement?

FAQ’s With Roy Oppenheim

Full Transcript: In real estate we sometimes have different terms for the same thing. And so, one of the questions that people sometimes ask is, what is a settlement? A settlement, in the context of real estate, not in the context of the legal community where people have a dispute and they’re settling a dispute and that becomes a settlement, but in real estate, a settlement is where you actually have a closing.

What is a settlement?

What is a settlement?

And people settle, basically, the title, they settle the es-crowed funds, and literally, in the old days, you know, people would come around a table, and they still do sometimes but not always, and they actually then transfer the title, the documents get notarized, items get paid off, checks and cash and wires are transferred, and everything gets settled. And so, at the end of the day, there are no loose ends, there’s a new owner, a seller, seller’s been paid, buyer now owns the real estate, buyers received a title insurance policy, and that is a settlement.

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Weston Title & Escrow | Attorney Owned And Operated Title Company
2500 Weston Rd #404
Fort Lauderdale, FL 33331
954-384-6168

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Weston Title & Escrow is a trusted South Florida title company, serving Broward, Miami-Dade and Palm Beach Counties as well as the entire State of Florida since 1994.  

Owned and operated by attorneys Roy Oppenheim and Ellen Pilelsky, the founding partners of Oppenheim Law, Weston Title provides highly personalized services in the areas of real estate closings, title insurance, title searches and escrow services.