1. What is a closing in escrow?
2. List and describe the function of seven parties that may participate in a real estate closing.
3. What are some of the general differences between residential and commercial real estate closings.
4. One great resource for paralegals who are gathering information is the real estate contract itself.
5. What helpful information with respect to a real estate loan closing can a paralegal obtain from reviewing the loan commitment?
6. What special requirements are found in a construction loan commitment?
7. What special requirements are contained in a leasehold loan commitment?
8. What is a mortgagee loss payable clause? Why does a lender require the clause before a mortgage loan closes?
9. What is a prepayment fee or premium, and how is it different from a late charge?
10. Outline what takes place following a real estate closing.
11. What special concerns must be addressed when closing a short sale?
12. What residential loans are exempt from the right of rescission under the Truth-in-Lending Act?
13. How many copies of the right to rescind must be given in a loan transaction secured by a home owned by a husband and wife?
14. Why should a paralegal be concerned about what is written in email communication?
15. What should a paralegal consider when selecting the recipient of an email communication?
16. What helpful information with respect to a real estate loan closing can a paralegal obtain from reviewing the loan commitment?
17. What is the minimum documentation that a seller must furnish at a real estate closing?
18. What is the minimum documentation that a purchaser must furnish at a real estate closing?
19. What information does the surveyor need to do a survey?
20. What information does a paralegal need to know before ordering hazard and fire insurance from an insurance company?
21. What is the importance of hazard and fire insurance, and what is a mortgagee loss