EDINA REALTY TITLE DISCLOSURE STATEMENT -- Wisconsin Property
BUSINESS AFFILIATION NOTICE:
This is to give you notice that HomeServices of America, Inc. is the parent company of Edina Realty Home Services, Edina Realty Home Services is the parent company of Edina Realty, Inc., and Edina Realty Title, Inc. Edina Realty Home Services and Wells Fargo home Mortgage, Inc. have ownership interests in HomeServices Lending, L.L.C. dba Edina Realty Mortgage. HomeServices of America, Inc. and RJF Private Client Group has equal ownership interests in Edina Realty Insurance, LLC. Edina Realty Home Services has a contractual relationship with Home Security of America, Inc. Because of these relationships, this referral may provide Edina Realty, Inc. with a financial or other benefit. In addition, Edina Realty Title, Inc. has a business relationship with Commonwealth Land Title Insurance Company, Old Republic National Title Insurance Company and Title Resources Guaranty Company (“Underwriters”) through Title Insurance Agency Underwriting Agreements. A percentage of each policy premium is retained by Edina Realty Title, Inc. and a portion is remitted to the Underwriters.
LEGAL ADVICE NOTICE:
Minnesota Statute 507.45 requires the following notice to you: “The Real Estate Broker, Real Estate Salesperson, or Real Estate Closing Agent has not and, under applicable state law, may not express opinions regarding the legal effect of the closing documents or of the closing itself.”
STANDARD FEE NOTICE:
Please note that many of our fees are standard, fixed fees. We often purchase information and services from third party vendors that we use in performing services for you. For various reasons, our fees to you for a particular service may turn out to be more or less than what a particular vendor has charged us for its work or product. Sometimes we have to evaluate and/or supplement the information or services provided by the vendor. In addition, our vendor’s charges are often difficult to convert into a per transaction price. Moreover, different vendors charge us different amounts for the same work or product, and we may not know the amount of a vendor’s charge until after closing. Finally, we are often charged by our vendors for transactions that fail to close as well as those that do, and we set our fees accordingly. For all these reasons, we set standard, fixed fees in order to save time and expense at closing.
DISCLOSURE REGARDING FDIC COVERAGE:
Any funds received by Edina Realty Title, Inc. (ERT) on your behalf are deposited in state or federally-chartered banks that are insured by the Federal Deposit Insurance Corporation (“FDIC”). The account is currently held at M & I Marshall & Ilsley Bank, FDIC deposit insurance coverage is unlimited in dollar amount until December 31, 2012. If you have questions about FDIC deposit insurance, contact your financial or legal advisors or go to http://www.fdic.gov/deposit/deposits/index.html Edina Realty Title, Inc. does not guarantee the solvency of any bank into which funds are deposited nor does it assume any liability for any loss incurred due to the failure, insolvency or suspension of operations of any bank or the $250,000.00 FDIC deposit insurance limit. While we do not guarantee the solvency of any bank, we attempt to deposit funds only in banks that appear to be safe and sound. Neither the FDIC nor other bank regulatory agencies provide ratings to the public so we obtain bank ratings from one or more commercial ratings services that provide ratings for a fee. A favorable rating from any rating service does not guarantee the solvency of a bank.
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