real estate transaction costs

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In a typical real estate transaction, homeowners secure financing, lock in a 30-day rate, and wait for their closing date. All too often, they have no control over the closing process, and can't get a straight answer from their Realtor, their mortgage broker, or their title company. Feeling helpless, they watch as their scheduled closing date passes by and their locked-in interest rate expires, increasing by a half-point. "On a $500,000 mortgage, that half-point means they will pay an additional $60,000 over the life of their loan," says Samuel Ingram, President of MyClosingSpace.com (www.MyClosingSpace.com), an innovative service that allows homeowners to gain control of the real estate closing process. "A real estate 'closing' is not a date," says Ingram. "It's a process. When the homeowners aren't in control of that process, they're at the mercy of their Realtor, attorney, mortgage broker, and title company. And they can end up paying a hefty price."

Concludes Ingram, "With our real-time quote tools and online ordering, we can ensure that homeowners close on time, every time, and avoid penalties and interest rate increases that can cost tens of thousands of dollars." That's money homeowners can put to good use in furnishing their new home.

The control begins with the company's leading edge technology, which generates an online real-time quote for title insurance and closing costs. "A homebuyer or homeowner simply has to enter the property's zip code, the price of the house, and the mortgage amount, and they will receive an online quote instantly," says Ingram. "That gives them the information they need to make their own decision."

Further, MyClosingSpace.com has a team of experts that communicates with real estate professionals on the homeowner's behalf. "Our clients don't have to go from one company to another with a thick folder of papers in hand," says Ingram. "Plus, they only have to make one phone call to get the answers they need from our exceptional customer service team."

MyClosingSpace.com takes the mystery out of closing costs, which are often inflated by various parties in a real estate transaction. Consumers can use MyClosingSpace.com's free online quote tool for any number of properties. "With MyClosingSpace, homeowners know upfront exactly how much their closing costs will be," says Ingram. Because MyClosingSpace.com doesn't engage in revenue sharing arrangements with lenders, attorneys, or Realtors, consumers save an average of 30 percent on closing costs.

MyClosingSpace.com was designed to give consumers the control that's missing from the traditional real estate transaction process. The company facilitates real estate transactions while giving those who are buying or refinancing a home access to the critical information that ensures an on-time closing. "We become the homeowner's partner every step of the way, through title search, escrow, settlement, and closing," says Ingram.

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