Monthly archive for October 2021

Here’s an excerpt from Red Flags in the Escrow/Title Process in our guide:

Examples of Red Flags to Watch For:

• Bankruptcies
• Business trusts
• Clearing liens and judgments, including child or spousal support liens
• Encroachment or off record easements
• Establishing fact of death–joint tenancy Family trusts
• Foreclosures
• Physical inspection results–Encroachment, off-record easements
• Probates
• Power of Attorney–Use of, proper execution
• Proper execution of documents
• Proper jurats, notary seals
• Recent construction
• Transfers or loans involving corporations or partnerships
• Last minute change in buyers
• Last minute change in type of title insurance coverage

Here’s an excerpt from Escrow: Frequently Asked Questions in our guide:

• Why is Escrow Needed? Whether you are the buyer or the seller, you want assurance that no funds or property will change hands until all instructions have been followed. With the increasing complexity of business, law and tax structures, it takes a trained professional to supervise the transaction.
• How Long is an Escrow? The length of an escrow is determined by the terms of the purchase agreement/joint escrow instructions and can range from a few days to several months.
• Who Chooses the Escrow? The selection of the escrow holder is normally done by agreement between the principals. If a real estate agent is involved, they may recommend an escrow holder.

Here’s an excerpt from The Title Insurance Value Proposition in our guide:

• Title insurance protects the interests of property owners and lenders against legitimate or false title claims by owners or lien holders. It insures the title to the investment, unlocking its potential as a financial asset for the owner.
• Title problems are discovered in more than one-third of residential real estate transactions. These “defects” must be resolved prior to closing. The most common problems are existing liens, unpaid mortgages, and recording errors of names, addresses or legal descriptions.
• A homeowner’s title insurance policy protects the owner for as long as he or she has an interest in the property; and the premium is paid only once, at closing.