Still waiting to close…..
Title work comes in for a file that is set to close in two weeks. It shows that there is an old mortgage on the property that should have been satisfied previously. Good, we have two weeks, not two days! I hate it when these come up a few days before closing. I begin work on trying to determine where it closed when that mortgage was paid off. This is generally the best route to take because we can then get them to issue us [...]
Crap Happens!
A while back Network Title completed a remodeling project in our Shoreview office that gave us new countertops and a receptionist desk, carpet, paint and wall coverings—it was beautiful! Shortly after the project was completed, we were to do a closing for some VIP's that were new in town; we were very excited to meet them. They arrived with their daughters, 2 year old Nina, and 7 year old Cici in tow. At one point during the closing, Nina indicated that she needed to use [...]
If you’re a realtor or buyer, it pays to know your title person. Here’s why….
You are a buyer or an agent representing a buyer and you're out looking at properties to purchase. There are lots of choices, from bank owned to short sales to traditional sales (yes there really are some of those out there). Wouldn't it be nice to know what the seller's situation is, especially if you aren't one of the patient buyers who can wait months and months for short sale approval? Your title person can let you know who owns the property, how many mortgages [...]
Children, no matter how precious, cannot sell real estate!
It's Friday afternoon and only one more closing to go. A nice simple one too. Cash buyer buying from for sale by owner sellers- no payoffs and no title issues. Great- quickly close it, package it out, and head home for a relaxing weekend. It is a husband and wife buying from a mom and daughter and and buyers show up first, looking very excited about buying their first home. We get them settled in and "Ann" the seller that I have been dealing with [...]
Have you received your title score?
Millions of documents have been filed against property titles over the last decade. The sheer volume of documents leaves a trail of misfiled documents, filed documents with errors and fraudulent documents. Add to that the tens of thousands of defunct title agents who didn't file documents and the likelihood of title defects on your property is high. We are all urged to check our life insurance policies and vehicle titles as well as our credit reports and credit scores, but do we ever check the [...]