Ticor Title Lynnwood Welcomes Christy Jones

Christy Jones - LPO Escrow Closer

Christy-Jones-LPO Escrow Closer

We are pleased to announce that Christy Jones has joined the Ticor Title team in Lynnwood!

A Seasoned Professional

As a seasoned veteran in Title and Escrow since 2001, Christy has experienced the ups and downs of the market and gained valuable knowledge along the way. She knows her client’s time is valuable, so she ensures that her team’s communication is quick and effective throughout the entire transaction. Christy has closed a broad array of transactions including: Refinance, Residential Resale, Multi-Family, Short Sales, Estates, REO, HUD Sales, Builder, Mobile Homes, and more. She strives to provide a positive and memorable closing with our customers and build long-standing relationship with brokers and lenders.

Christy Jones

LPO/Escrow Closer
425-434-4013
christy.jones@ticortitle.com
19020 33rd Ave W Suite 550
Lynnwood, WA 98036

Map & Directions

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A Lynnwood Native

Christy was born and raised in the Lynnwood/Meadowdale area, and attended Mountlake Terrace High School. Enjoying our beloved Pacific Northwest with her husband and son, and attending her son’s sports activities, is something she looks forward to every day. She also loves camping, walking around the Edmonds beaches and parks, partaking in the local fairs and festivals, bowling, and watching movies. Vacationing at Disneyland and other theme parks in California brings great joy to her life.

Integrity & Pride

As with her family, Christy has true dedication and compassion toward her customers. Integrity and pride in the service she provides is of utmost importance and she believes that a happy customer is a loyal customer!

Partner with Christy and experience the difference in how her communication and extensive knowledge makes for a smooth and enjoyable transaction.

How to Eliminate Signing/Consummation Date Guesswork

TRID Calendar

TRID Calendar - Determine Consummation Date
By now, we’re all familiar with the Closing Disclosure delivery period and review period guidelines set forth by the CFPB. The delivery and waiting period guidelines have made it more challenging to plan and schedule signings because the delivery method, non-working days, and federal holidays all have to be factored in when determining the earliest possible consummation date or required delivery date for a specific consummation date. And of course, there’s the 3-day rescission period that applies to refinance transactions.

To eliminate the guesswork and speed up the calculation process for our clients and partners, we are happy to announce the availability of the Ticor Title TRID Calendar. The TRID Calendar is an interactive tool that illustrates all the important dates in three simple steps.

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NOTE:

If a federal holiday falls within the Delivery and/or Waiting Periods, add an additional business day.

The three-day period is measured by days, not hours. Thus, disclosure must be delivered three days before closing, and not 72 hours prior to closing.

Disclosures may also be delivered electronically to the Delivery Period and may be signed in compliance with E-Sign requirements.

Where to Find the TRID Calendar

Access the TRID Calendar at http://ticortitle.com/cfpb/calendar.htm on a desktop, tablet, or mobile device.

How the TRID Calendar Works

Determining the delivery period, review period, consummation date, and rescission period can be achieved in three simple steps:

  1. Specify loan purpose (purchase or refinance)
  2. Specify delivery method (personal delivery, mail delivery, electronic delivery)
  3. Click a date on the calendar to specify signing/consummation date

The TRID Calendar will instantly illustrate the delivery period, review period, signing/consummation date, and rescission period (for refinances) to the calendar.

Save a PDF for Your Records

TRID Calendar PDFAs a convenience, the TRID Calendar provides the option to create and save the calendar as a PDF. To create a PDF of your illustrated calendar, click the “CREATE PDF FILE” button at the bottom of the TRID Calendar page . The PDF file displays the delivery period, review period, consummation date, rescission period, as well as holidays that occur during any of the periods. Also included in the PDF is an explanation of Consummation.

What is Consummation?

Consummation is the day the borrower becomes legally obligated under the loan, which would be the date of signing, even if the loan has a rescission period.It is important to note the definition of consummation can be different than the closing date as defined in the purchase agreement where the buyer becomes contractually obligated to a seller on a real estate transaction.

What to Look For in a Title Insurance Company [video]

What to look for in a title insurance company


Ok so you know title insurance is important for verifying the title of your property, right? So trusting in the right company is also important. But how to you pick the best provider?

Experience, Reputation, and Reliability

Well, as you work with your real estate agent or lender, here are three things to consider when looking for a title insurance company: experience, reputation, and reliability.

Every state is different so the company you choose should have solid partnerships with local businesses, representatives with significant experience in your community, and expert knowledge of your local laws.

You also want a title company with a good reputation for solving complex problems, mediating difficult circumstances, and dealing with any situation that comes up. Because you never know what might come up! And finally you want a representative who’s backed by decades of reliability with the financial stability to be around for many years to come.

So as you work with your real estate agent or lender ask about the title company and choose one that’s experienced, reputable, and reliable!

About Title Insurance

Title policies insure owners and lenders against possible losses from claims against real property ownership. The preliminary report or commitment provides advance information on matters which will be excepted from coverage. Lenders and owners are thereby given an opportunity to correct title flaws before purchasing or lending.
Title insurance originated in the 1870’s to stem a series of land ownership problems that developed from inaccurate record searches, forgeries, and related problems. Today, it offers protection from certain items that cannot be determined from public records, such as forgeries of all types, undisclosed heirs, hidden marriages and divorces, clerical errors, and invalid legal procedures and interpretations.

Policies are written on the basis of a search of public records and other records which impart constructive notice. Remember, a deed does not prove that the seller is the owner of the property. Only title insurance can protect your interest in the property from unknown encumbrances, legal conflicts and unforeseen claims.

A policy of title insurance is like a pre-paid legal agreement. Your insurer will provide legal defense against challenges to your insured title (dependent, of course, upon the type of policy coverage ) and will reimburse you financially for losses due to the covered defects in your ownership rights.

It is important to remember that a lender’s title policy does not insure a borrower against title risks. While certain types of policies pertain to both the owner and the lender, it makes good sense to help protect your borrowers by explaining the limitations of their particular coverage.

If you have any questions regarding which policy would best suit the needs of any particular situation, contact your Ticor Title representative.

Ticor Title Spokane Welcomes Brian Kobs

Ticor Title Spokane Welcomes Brian Kobs

Ticor Title Spokane Welcomes Brian Kobs

Welcome Brian Kobs

We are pleased to announce the expansion of our Spokane Operation with the addition of Brian Kobs – Sales Executive.

With over 10 years in sales, Brian is known best for his hard work and commitment. Clients compliment Brian for mending the communication breakdowns that inevitably happen in our business. “Sometimes this is verbal communication, sometimes it is an inability to communicate feelings and emotions. Either way, though questions and empathy most of these obstacles can be overcome somewhat painlessly.”

Contact

Phone: 509-344-9992
Fax: 855-885-2346
Brian.Kobs@TicorTitle.com

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What is Brian passionate about professionally? “I am most passionate professionally about contributing to achieve common goals with my team /work family. Celebrating personal success is typically a lonely activity. There is little that is as emotionally fulfilling as the feeling you get when you celebrate a victory as a team.”

What about personally? “I’ve shared the last 23 years of my life with the most amazing woman I’ve ever met. Whatever I do is always better when my wife is involved. Any lengthy conversation with me will inevitably include some reference to Sara-Jayne.” Camping, boating, or fishing are fun ways that Brian likes to spend his weekends.

Please help us welcome Brian Kobs to the Ticor Title Spokane Sales Team.

Remember to specify Ticor Title on your next transaction and be sure to order your Property Profile at cs.spokane@ticortitle.com!

Escrow Locations

Spokane
1330 N Washington St, Suite 3525
Spokane, WA 99201
Phone: 509-327-2381
Fax: 866-878-4105

Spokane Valley
720 N Argonne Rd , Suite E
Spokane, WA 99212
Phone: 509-928-9665
Fax: 509-928-7018

Open House May 12 – Ticor Title Lynnwood

Ticor Title Lynnwood Open House May 12, 2016

You’re invited to join us for food, refreshments, and good times as we celebrate the recent opening of our Lynnwood escrow office!
Thursday, May 12

At Ticor Title Lynnwood, we believe that every successful real estate transaction begins with a great team. We are proud of our dedicated family of professionals who are committed to the highest levels of service to our clients, the Lynnwood community, and each other.

So please join us as we celebrate our growing team and new Lynnwood location!
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When:

May 12
4PM – 7PM

Where:

Ticor Title – Lynnwood
19020 33rd Ave W
Suite 550
Lynnwood, WA   98036
Map & Directions – Ticor Title Lynnwood

RSVP:

Scott Huggins
425-361-3776
scott.huggins@ticortitle.com

What is Escrow [video]

What is Escrow


Making a simple financial transaction is pretty straightforward, right?
You get the goods, he gets the money, and a receipt is your proof of ownership. But how do you make a financial transaction as large and as complicated as a home purchase or refinance?

How Escrow Works

That’s where escrow comes in. Your escrow officer is an essential partner who mediates a complicated financial transaction to make sure it’s done accurately and fairly.

Here’s how it works: When a buyer and seller come to an agreement on the terms of sale, everyone involved gives their part of the transaction to the escrow officer. Then the escrow officer ensures everyone does what they agreed to do before handing over the deed and distributing funds appropriately.

And by the time the property changes hands or the refinance is complete, all the variables are coordinated and everyone has peace of mind it was all done correctly! To learn more about escrow contact your Ticor Title representative.

Escrow Workflow

Click to Download

Escrow Workflow

The Escrow process in 12 steps. This flowchart illustrates which items are performed by escrow and which items are performed by the Lender.

Click here to download

The Property Tax Annual Cycle in Washington State

There are few things in life that are as certain as taxes, especially when it comes to buying, selling, and owning real estate.  In this article, we’re going to take a specific look at common questions relating to property taxes, including when they are due, when they may be paid, how they’re calculated, and what tax relief programs are available.
Click Here to View a PDF version of this infographic.Property-Tax-Annual-Cycle-graphic

 

The Property Tax Timeline

Property taxes have a timeline that is different than most other taxes or bills that we pay. Let’s take a look at the facts:

  • Taxes are due twice a year, but towards the middle each cycle
  • First half taxes are due at the end of April and cover January through June
  • Second half taxes are due at the end of October, and cover July through December
Click  the following link to download a printable version of the Property Tax Annual Cycle Infographic.

Property tax proration

Because taxes are due toward the middle of the period they cover, a real estate seller may receive a refund or pay prorated taxes depending on the closing date.  For example, a sale that closes in March will have both parties paying prorated taxes: the seller pays for January 1st to date of closing, and the buyer pays from the closing date to June 30th. A closing that happens in May, would give the seller a refund for prorated taxes from the closing date to the end of June, since the seller would have paid in April for the entire first half of the year.

Can property taxes be paid in advance?

When are taxes due?

1st half are due the last day of April, 2nd half are due the last day of October. King County mails out a statement in the middle of February.

Taxes for the second half of the year can be paid in advance, but the first half can’t. Washington State law (RCW 84.56.010) doesn’t allow county treasurers to collect property taxes until February 15 of the year that they are due. So the first half is typically payable any time between Feb 15th and April 30th; and the second half is typically payable any time between Feb 15th and October 31st. It is not necessary to have a tax statement to mail in with your payment. If you decide to mail in your payment without a tax statement, you must write your tax account number on the check. Mailed payments must be postmarked on or before the due date otherwise they will be considered late.

How are property taxes calculated?

How taxes are calculated

The two factors used in the calculation of taxes are the assessed value of the property and the levy rate for that area. Levy rates are represented in dollars per thousand, so to calculate the tax amount multiply the assessed value by the levy rate and divide by 1,000.

The property tax for a given parcel are based on a fairly simple calculation: multiply the total assessed or taxable value of the parcel by the levy rate for that parcel’s neighborhood. In addition there can be fees added by the county to cover specific services like noxious weed control.

Last Year’s Assessed Value x This Year’s Levy Rate = Tax Amount Due

What determines the levy rate?

The levy rates are determined by a number of factors, including the results of voter-approved levies. Property taxes usually aren’t certified until the middle of February, even though the assessments were mailed out the previous year (which often causes confusion). In other words, the assessed valuation statement you get in the 2ndhalf of this year has no effect on the taxes you are paying this year. The valuation will be used in the calculation for next year’s taxes. You won’t know the actual tax you will need to pay for 2016 until the county certifies 2016 taxes in the middle of February, even though 2016 assessed values have been available for months.

Assessed value vs. taxable value

The assessed value is typically the same as the taxable value except in cases where the taxpayer has applied for and received an exemption. For example, senior and disabled property owners may qualify for tax reductions. In some cases home improvements may qualify for a 3-year exemption for taxes on the value of the improvement. For more information on possible exemptions or tax defererals, contact the Assessor-Treasurer for the county in which the property is located.

What tax relief programs are available?

Here are some examples of tax relief programs and special classifications that may be available in your area:

  • Open Space Classification for Agricultural land, Timberland, and Natural preserves.
  • Designated Forest Land Classification for timberland parcels 20 acres or more.
  • Historical Restoration Exemption for historical significant property undergoing restoration.
  • Improvement Exemption – Single Family Dwellings a temporary exemption of valuation of additions to single-family dwellings.
  • Destroyed Property Claim adjustment to the valuation of destroyed property. (King County – please note this program is handled by the Admin department, for further information please contact them at 425-388-3038).
  • Property tax exemptions for senior citizens and disabled persons
  • Full tax deferrals for senior citizens and disabled persons.
  • Exemptions for qualifying property owned by non-profit organizations.
  • Property tax deferral for those with limited income.

Property tax resources:

King County property tax resources

King County Assessor-Treasurer hotline: (206) 296-3850
Find your tax parcel account number: King County tax parcel search
See or print a tax statement: View or print King County tax statements here.
Make online payment: Pay King County Property Taxes Online
Make checks payable to: King County Treasurer
Mailing addresses for property taxes: King County Treasury 500 Fourth Avenue, Room 600 Seattle, WA 98104

Pierce County property tax resources:

Pierce County Assessor-Treasurer hotline: (253) 798-6111
Find your tax parcel account number: Pierce County tax parcel search
See or print a tax statement: View or print Pierce County tax statements online here.
Make online payment: Pay Pierce County Property Taxes Online
Make checks payable to: Pierce County
Mailing addresses for property taxes: Pierce County Budget & Finance P.O. Box 11621 Tacoma, WA 98411-6621

Snohomish County property tax resources:

Snohomish County Assessor-Treasurer hotline: (425) 388-3433
Find your tax parcel account number: Snohomish County Tax tax parcel search
See or print a tax statement: View or Print Snohomish County tax statements online here.
Make online payment: Pay Snohomish County Property Taxes Online.
Make checks payable to: Snohomish County Treasurer
Mailing addresses for property taxes: Snohomish County Treasurer 3000 Rockefeller Ave, M/S 501 Everett, WA 98201

Spokane County property tax resources:

Spokane County Assessor-Treasurer hotline: (509) 477-3698
Find your tax parcel account number: Spokane County Tax tax parcel search
See or print a tax statement: View or Print Spokane County tax statements online here.
Make online payment: Pay Spokane County Property Taxes Online.
Make checks payable to: Spokane County Treasurer
Mailing addresses for property taxes: Spokane County Treasurer
PO Box 199
Spokane, WA 99210

Open House April 13th – Ticor Title – Gig Harbor

Gig Harbor Open House 2016

Gig-Harbor-open-house-2016

You’re invited to join us for food, refreshments, live music, and good times as we celebrate the recent relocation of our Gig Harbor escrow office!

At Ticor Title Gig Harbor, we believe that every successful real estate transaction begins with a great team. We are proud of our dedicated family of professionals who are committed to the highest levels of service to our clients, the Gig Harbor community, and each other.

So please join us as we celebrate our growing team and expanded Gig Harbor location!
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Download the Invite

Ticor Title Open House 2016 Gig HarborClick here to download the invite

When:

April 13
4PM – 7PM

Where:

Ticor Title – Gig Harbor
5775 Soundview Drive #204B
Gig Harbor, WA 98335
Map & Directions

RSVP:

Lucy Ritchie
253-358-0034
lucy.ritchie@ticortitle.com

What is Title Insurance [video]

What is Title Insurance


Everyone has a checklist of things they look for when buying a house, right? Like maybe looking for a quiet tree-lined street in a neighborhood with good schools not far from work. These are all important things to consider. But what about the property’s history?

How Title Insurance Works

Over the years things like liens, easements, and subdivisions may cause confusion over who has rights to the property. And the last thing you want as a homeowner is a big kerfuffle to put your property in jeopardy! That’s where title insurance comes in. When you buy or refinance a home, title insurance confirms there are no disputes over who has rights to the property.

Here’s how it works: Unlike auto, health, or homeowners insurance where you pay a monthly premium for value after an action, you pay for title insurance upfront to protect you from future claims.

By the time you’re ready to close the deal, title insurance gives you and your lender peace of mind that any disputes or restrictions are resolved or known. To learn more about how title insurance protects your rights to your home, contact your Ticor Title representative.

How to Receive Your Closing Protection Letter in One Minute or Less

Closing Protection Letter Delivery in One MinuteTicor Title is proud to introduce a system by which we provide Closing Protection Letters (CPLs) in under one minute for our Lender Clients, providing convenience and a speedy response 24/7. When a Lender completes the CPL request form via MyTicor.com, a response via email with the completed CPL will be sent promptly.

*Note that internet connection speeds, recipient email server functionality, and technological issues outside our control may have an impact on when a recipient receives CPL.

Here’s how to access a Closing Protection Letter in under one minute:

  1. Visit MyTicor.com and click on the “CPL Request” link in the left-hand navigation menu.CPL Request Ticor Title
  2. Complete the CPL Request Form (including required fields marked with *)CPL Request Form Ticor Title
  3. Check your email. The CPL will be delivered promptly to the email address specified in the Request Form.

Need to make edits to your CPL?

Sometimes things change as a transaction progresses. If you need to make an edit to any given CPL provided by our system, click the link at the bottom of the CPL titled: “CLICK HERE TO EDIT AND RE-CREATE THIS CPL”. The current information on your CPL will appear in the form where you may make edits as needed. Click the “Submit” button to submit your change request. Your revised CPL will be delivered via email as before.

Closing Protection Letters Explained

Title insurance underwriters issue commitments and policies both through direct title operations and through title insurance agents. The title insurance underwriter/ agent relationship is a limited agency relationship wherein the agent is only granted the authority to act on behalf of the title insurance underwriter for the purpose of issuing title insurance commitments or policies. Although both title insurance underwriters and title agents perform closing and escrow functions, those closing and escrow activities are outside the scope of the limited scope of title insurance underwriter’s agency contract and relationship with the policy issuing agent. Given the limited scope of the title insurance underwriter/agent relationship the title insurer has no responsibility or liability for closing and escrow activities of a title agent.

Closing Protection Letters &
Insurance Policy Comparisons

Important Differences Between Different Types Of CommonInsurance Policies and Protections
Closing Protection Letters & Insurance Policy Comparisons

By contrast, when a direct title operation or employee of a title insurance underwriter performs closing or escrow functions the underwriter is liable for those acts because those are the direct acts of the title insurance underwriter and its employees. The closing protection letter is offered to address lender concerns over the security of funds and documents handled by a title agent that is issuing the title insurer’s policy in a particular transaction by indemnifying against actual loss if the policy issuing agent does not follow the lender’s written closing instructions regarding the disbursement of funds and documents.

The closing protection letter is an agreement to indemnify the lender for actual losses incurred by the lender caused by specific closing and escrow related actions or inactions of the title agent. The closing protection letter is not an insurance contract. The title underwriter’s indemnification obligation is subject to the conditions and exclusions to indemnification stated in the body of the letter.

Subject to state law variations, the closing protection letter indemnifies against actual loss caused by failure of the named issuing agent to comply with the written closing instructions of the addressee/lender to the extent those closing instructions relate to:

  • The status of title to the land or the validity, enforceability and priority of the lien of the mortgage, including the obtaining of documents and the disbursement of funds necessary to establish title or the lien; or
  • Fraud, dishonesty or negligence of the issuing agent in handling the addressee’s transactional funds or documents to the extent such fraud, dishonesty or negligence relates to the status of the title or the validity, enforceability and priority of the lien of the mortgage.