The Commitment should ALWAYS be reviewed in its entirety. A quick scan could cause you to miss important information that could delay the close of escrow. In most cases, when liens or clouds on title are discovered early in the process the Title Officer can work with the parties …
Frequently repair work is done on property prior to the closing of a sale. What if the seller doesn’t pay for the repair work and a Mechanic’s Lien is recorded after the closing? Keep in mind that the priority of the mechanics lien is established when the work begins, not when …
Escrow Checklist for Real Estate Agents Provide a copy of the fully executed contract including legal description and tax parcel number. Make certain to provide all addendums as soon as possible. * Provide complete broker Information including address and licensing information. * Contact information for Buyers and Sellers. …
Common Ways to Hold Title Title to real property may be held by a single individual or entity, known as Sole and/or Separate Ownership, or by two or more individuals and/or entities known as Co-Ownership. Following is a brief list of common ways to hold title. Ownership and tenure of …
Tip from the Escrow Desk Did you know that utilities cause more post-closing phone calls than any other aspect of a Purchase & Sale Agreement? In a seller’s market, such as what we’re experiencing now, delayed possession is common. Due to this, many contracts include a delayed possession rental agreement. …
What Every Realtor Should Know About Title Insurance The process of buying a home is complicated. Consumers can become confused and frustrated with the mounds of paperwork and documents to sign. Fees show up at closing that can sometimes surprise the buyers. Title insurance is one of those charges least …
