Buchanan Settlement Services, Ltd., Inc.

Congratulations to Mark and Kelly on the purchase of your new home and Mark and Patti on your sale! #buchanansettlementservices #closing #closingday #patitleinsurance #titleinsurance #patitle

Happy St. Patrick's Day from Buchanan Settlement Services! #buchanansettlementservices #patitleinsurance #titleinsurance #patitle

Title Tip Tuesday! Question: What is an escrow account on your mortgage? Answer: An escrow account is a separate account managed by a mortgage lender to collect and pay property taxes and homeowners insurance on behalf of a homeowner. The homeowner pays a portion of their annual property taxes and insurance premiums along with their mortgage payment. The lender deposits these funds into an escrow account. When property taxes and insurance premiums are due, the lender uses the escrowed funds to make the payments directly to the tax authority and insurance company. If you have at least 20% equity in your home, some lenders may allow you to pay taxes and insurance yourself instead of using an escrow account. However, certain loan types always require escrow accounts. #buchanansettlementservices #TitleTipTuesday #patitleinsurance #titleinsurance #patitle

Selling Real Estate? Don’t Forget About the 1099-S! ?? What is a 1099-S? A 1099-S is a tax form used to report the proceeds from real estate transactions to the IRS. It is typically issued by the settlement agent or title company responsible for closing the transaction. The form helps ensure that sellers properly report any capital gains from the sale of real estate, such as a home, land, or commercial property. ?? Who receives a 1099-S? Homeowners who sell real estate may receive a 1099-S if they do not meet IRS exclusions for capital gains tax, investors or businesses that sell real estate, and sellers of vacant land or commercial property. ??What Should You Do If You Receive a 1099-S? Verify that the amount reported is correct and use it when filing your tax return to calculate capital gains or losses. Make sure to keep a copy for your records in case of an IRS audit. Selling a home can be exciting, but don’t let tax season surprise you! #buchanansettlementservices #patitleinsurance #titleinsurance #patitle #realestate #titlecompany #realestate #1099S #taxtime #homesellingtips

Congratulations to Trey on the purchase of your new home! Thank you to Chance Stem with LPT Realty, Arlene Unger with RE/MAX Results, and Jack Hinder with First Home Mortgage. #buchanansettlementservices #closing #closingday #patitleinsurance #titleinsurance #patitle

Do You Need Title Insurance on a New Construction Home? Buying a brand-new home? You might think title insurance isn’t necessary—but think again! Even new construction properties can have title issues. Visit the link below to learn more and contact us today! #buchanansettlementservices #patitleinsurance #titleinsurance #newconstruction #homebuying #protectyourinvestment

Congratulations to Rachel on the purchase of your new home and Dan and Sally on your sale! Thank you to Sam Colangelo with JAK Real Estate, Sally Sussman with Long & Foster Real Estate, Inc., and Sheena Jones with Direct Mortgage Loans, LLC. #buchanansettlementservices #closing #closingday #patitleinsurance #titleinsurance #patitle

Congratulations to Yvonne and Chandler on the purchase of your new home! Thank you to Shirley Bayer with REMAX Achievers and Hurley Real Estate & Auctions for a smooth transaction. #buchanansettlementservices #closing #closingday #patitleinsurance #titleinsurance #patitle

Thinking About Buying Property? Get a Title Search First! Before you invest in real estate, make sure you’re getting a clean title! Our comprehensive title searches uncover hidden liens, ownership issues, and legal claims—protecting your investment from surprises down the road. ? Identify potential title issues ? Ensure clear ownership transfer ? Gain peace of mind before closing Don't take risks with your real estate transaction! Visit the link below to learn more and contact us today! #buchanansettlementservices #patitleinsurance #titleinsurance #patitle #realestate #titlesearch #propertyinvestment #homebuying #titlecompany