February, 2011 - MyTicor

QR Codes and how we generate them

On February 25, 2011 / Blog, Technology

A while back we talked about what QR codes are and how we applied them to our marketing process for our Clock Hour Class in December. As a follow up to that post, today, we’re going to talk about how we went about generating our own unique QR codes.

Code Machine

Remember that QR codes have many applications. But, for our purposes, we are using the codes to enable smartphone users to easily find our web page of choice when they point their smart phone at our code which is on a printed flyer. If you think about it, QR codes are adding a whole new level of interactivity to printed materials. We joke about how antiquated print has become, how it’s not really forward-able or shareable, and how you can’t tweet it or add it to your favorites. But now that’s not such a problem because if a print item is QR code-enabled, a person with a smartphone can take action and (in Ticor’s case) register for a class, read a print article on the web, watch an escrow video, or ultimately order title and escrow…

So Here are the steps we took to get and apply our QR code:

1. We decided what page we wanted our readers to land on. In our case we wanted our readers to have an easy way to register for our Real Estate Clock Hour Class via eventbrite.com. Our actual URL was http://foxburyclockhours.eventbrite.com. We’ll call this the landing page URL

2. We copied the Landing Page URL and pasted it into a QR Code generator. We used http://qrcode.kaywa.com/. It’s free and easy to use. The QR code generator created our QR code and we saved it as an image to our hard drive.

3. We added the code to our print piece. We use InDesign, Word, and Publisher for various print pieces and each of them allow us to overlay the QR Code wherever we need to.

4. Finally, we tested it! It’s actually still a thrill to effectively “click” on a piece of paper to navigate to the web!

For more information about our Title & Escrow and Technology Clock Hour classes, please check out our Puget Sound Clock Hour Classes Page!

Property Information on demand saves the day

On February 25, 2011 / Blog, Property Info - Customer Service

Click the image to download “5 Reasons to Order a Trio”

Having the right property information at the right time can sometimes make or break a sale. At Ticor, we live and breathe property information. It’s our job to examine every parcel in the Puget Sound area that we insure to know how it’s described, who has a claim to it, and how it may be used. And naturally this area of expertise becomes invaluable when a Real Estate agent needs information fast. Below is a true story that took place in December:

Right around December 16^th, most of us were occupied with Holiday prep and planning. But for Shawn L., it was a good day to handle a sign call. Shawn had moved to a new brokerage in West Seattle a few months earlier, and he had several listings on the market.

‘Tell me about your listing,’ said the client. This buyer was interested in a home that Shawn had listed in Seattle’s Central District, and phoned around 2 pm to ask about a showing. And the buyer had several questions, most of which were easy to answer immediately. But, when the buyer asked ‘How much are property taxes for this home?,’ Shawn had to get help fast. So, on the way to his showing appointment, he called Julie McCullough Hale with Ticor.

‘Can you get me property taxes for this address?’ asked Shawn.

‘Yes! How about a property profile, legal description, and a plat map too?’ said Julie.

‘That would be awesome!’ replied Shawn.

And in 20 minutes, Shawn had all of this info at his fingertips, delivered to his iPhone.

Ticor sends free property information to our customers every day. What Shawn received on his phone was called a ‘Trio’ (Property Profile, Map, and Deed with Legal Description). This is also called a ‘Listing Packet.’

Often, agents order title work at the time of listing a property, and Ticor always confirms this with an order number, and a ‘Free Trio.’ And even though it’s something that goes out dozens of times every day, our Property Info staff knows that every request is critically important to whoever contacts us. In Shawn’s case, he needed his info on the run, since he was driving to meet a client. He didn’t have time to personally research. So, he called the people he knew he could count on for accuracy and a fast turn around.

So, what happened with Shawn’s prospect? Later that day, Shawn made another call to Julie with Ticor.

‘How quickly can we close for a cash buyer? I think he’d like to do so before Christmas.’

Property Information sent to your smartphone

Julie let him know that with a clear title report, and a cash buyer, it was quite likely that closing could be completed within a week. The next morning, his office called Ticor Escrow for an earnest money pick up. And the best part – this transaction closed in under a week. A nice end to a busy year for Shawn and his office.

‘We’re reminded every day how important our Property Info Services are,’ said Ryan Kalalau, Ticor Sales Manager. ‘Getting the right info delivered quickly, is one of the most important services we offer.’

Thanks to: Shawn L., West Seattle agent

Here’s a link where you can order your own ‘Free Trio’ right now!

Order free Ticor Trio HERE

Ticor Seattle / Renton: 206-720-6969 / 425-255-6969
Ticor Bellevue: 425-467-0377
Ticor Puyallup / Pierce County: 253-383-0055
Ticor International: 425-204-5113
Ticor Email for Property Info: cs.wa@ticortitle.com

Download “5 reasons to order a trio” here

Do you have a story about how having the right information at the right time made the difference between winning and losing a deal? Please leave a comment below!

The REO Transaction Process Explained

On February 8, 2011 / Blog, Escrow

REO (Real Estate Owned) properties make up a significant portion of the inventory in the Puget Sound real estate market. As a reality of the current real estate industry REO transactions draw plenty of confusion and frustration for many who are involved. Here at Ticor we’ve been handling a steady volume of REO properties and deal with some large REO accounts. Based on our experience with REO transactions we’ve produced the following outline.

Please understand the REO process described below represents an “average” experience and just like any real estate transaction many factors can affect time frames and conditions. For more details, click the following link for hot tips on working with escrow on an REO closing.

The Beginning – Mutual Acceptance

The beginning is signified by mutual acceptance of the Purchase and Sales Agreement

Day 1

Escrow is opened and Title is OrderedEarnest Money is deposited

Day 2-3

Deed is prepared and sent to SellerBuyer’s vesting info is taken from the purchase contract, if incorrect the Seller will request proper vesting and an addendum will be required

Buyer’s Lender requests fees from Escrow

Escrow orders HOA, Lien Demands and other money matters associated with the property

Day 4-5

Seller will begin requesting weekly status updates from Escrow regarding specifics like the appraisal, inspections, earnest money deposits, underwriting criteria for buyer’s lender, etc.

The Middle – Underwriting (10-20 Business Days)

For the next 2-4 weeks the Buyer’s Lender will work on underwriting the loan for the transaction and await approval to move forward.

The End – Closing Process (3-7 Business Days)

Day 1

Buyer’s Lender delivers loan documents to EscrowEscrow completes an estimated HUD and sends to Buyer’s Lender for approval

Day 2-3

Buyer’s Lender approves estimated HUD and notifies EscrowUpon Lender HUD Approval, Seller’s HUD is sent for signature

Schedule Buyer to sign loan documentation

Day 3-6

Signed Buyer’s documents are received back at EscrowFunding Package is assembled and sent to Buyer’s Lender for final funding approval pending Seller Signed HUD

Seller Signed HUD is received by Escrow and forwarded to Buyer’s Lender to accompany the Funding Package

If the Buyer’s Lender is satisfied with the funding package and conditions the transaction will fund, the Deed will subsequently be recorded and the transaction will close.

Questions or thoughts? Please leave a comment below!

How do I remove someone from the title to my property?

On February 8, 2011 / Blog, Title Insurance

How do i remove someone from property title

How Do I Remove Someone From Title?

Situations can arise where the ownership interest in your property changes from the way it was originally acquired. Whether it is due to death, divorce, a parting of ways or the requirements of a new lender it sometimes becomes necessary to remove someone’s name from the title to a property. This is usually accomplished by the party exiting title executing a deed of conveyance in favor of the party or parties that will remain in title. Clearing the interest of deceased parties is an entirely different matter altogether and will not be addressed here.

In Case of Divorce

In cases of divorce, the best way to clearly show which party was awarded the property would be for the party not awarded it to execute a quit claim deed in favor of the party that it was awarded to. Many times the terms of the decree of dissolution and/or settlement agreement in the divorce case don’t properly identify real estate holdings and it can be difficult to determine “who got what”.

Download a printable version of this article

Click here to download “How to Remove Someone From Title to Property”

Tenants-In-Common

If title is held by two or more parties as tenants–in-common and one of them decides to sell or otherwise relinquish their interest they would execute a deed of conveyance (typically a statutory warranty deed or in some cases a quit claim deed) to the recipient(s) of their interest.

When a Party in Title Doesn’t Qualify For a Loan

Sometimes a party in title does not qualify for a loan and if the lender agrees to make the loan to the other title holder(s) a deed of conveyance (typically a quit claim deed) will be executed by the non-borrower to the borrowing party in title to the property.

Seek Legal Council

You should always consult with an attorney before signing any legal documents. You should also consult with Excise Tax Dept. personnel at the local county recorder’s office to help you determine if excise (i.e. conveyance or transfer) tax will be due when the deed is presented for recording.

Monthly archive for February 2011