Author Question: One of the tasks at the closing is ensuring that any clouds on the title are cleared. Both the buyer ... (Read 48 times)

ashley · **on:** Aug 3, 2018

One of the tasks at the closing is ensuring that any clouds on the title are cleared. Both the buyer and the seller are required to sign and submit affidavits. Describe the contents of the Buyer's and Seller's Affidavits of Title.

What will be an ideal response?

Question 2

The most important component to selecting the targeted land for development is:

A. Location
B. Cost
C. Financing
D. Profit

vboyd24 · **Reply #1 on:** Aug 3, 2018

Answer to Question 1

The buyer confirms that she is the purchaser of the property, over 18 years of age, and under no legal disability that would prevent her from entering into a contract and that they have not created any debt, other than the mortgage being created at the closing. For the seller, the affidavit states that he is over 18 years of age and not suffering from any condition that would impact their mental faculties; that all taxes, water, sewer, and other municipal charges have been paid, that there are no repairs to the house that have not been paid for, that no notices of building or zoning code violations have been received.

Answer to Question 2

A