What is a settlement statement in real estate?
The document that used to be called a settlement statement is now known as a closing disclosure.
Michele Petry is a senior editor for Bankrate, leading the site’s real estate content since January 2022. Before joining Bankrate she was a writer and editor for StreetEasy, Zillow’s New York City real estate site. Before that, she amassed 20 years of experience on staff at national magazines, honing her skills editing home-based content at House Beautiful, Elle Decor and Veranda (among other titles). Michele earned her journalism degree from Syracuse University’s Newhouse School of Public Communications and is a member of the Society for Advancing Business Editing and Writing (SABEW) and the National Association of Real Estate Editors (NAREE). She lives in Manhattan.
Buying your first home is scary, stressful and thrilling all at once. I couldn’t believe a bank was willing to lend a young, clueless me what seemed at the time like SO. MUCH. MONEY. The fact that it was a New York City co-op apartment, with all the esoteric rules and nerve-racking interviews that includes, made it even more surreal. I know firsthand how important it is to have a knowledgeable real estate agent to guide you through the journey — mine specialized in my neighborhood, knew the building I was buying in specifically, and saved me from making a million naive missteps. I’m happy to use my experience and skills to help others achieve their real estate dreams.
Hire a real estate attorney for any home sale or purchase, even if your state doesn’t require you to. The contracts are complex, and the stakes are high — it’s worth the extra cost to make sure everything is legally buttoned-down.
— Michele Petry
Equity is on the rise in New Mexico. But if you’re trying to cash in on the market, you’ll need a solid strategy in place.
While New Mexico home prices are rising, homes are also sitting on the market for longer than past years.
If a home seller asks for your best and final offer, there are likely other bidders as well. It’s important to be strategic.
The thought of a stranger fraudulently claiming ownership of your home is scary — it’s relatively rare, but it can happen.
Should you start with a smaller, more affordable home or stretch to buy a forever home you can stay in for the long haul?
Increased housing supply and less buyer demand are creating some headwinds for Nevada home sellers.
If you’re looking to become a Nevada homeowner, you’re in luck: Median sale prices are on the decline.
The term means pretty much what it sounds like: An improvement that increases the value of a home, thus making it “better.”