Archive for the Ticor Tech Tip Category

A Title Commitment (also known as a Preliminary Report in some areas) is a dated formal report that sets out in detail the conditions under which a policy of title insurance would be issued on a particular parcel of land. The report reflects the matters which would be shown as exceptions in a policy of the title insurance so that the parties to the transaction will be aware of any of those matters of record that may need to be cleared prior to the closing of the transaction. This report is issued before the title policy—hence the name Title Commitment.

We have created a guide to assist in how to identify and understand the following…

The estate or interest covered.
The record owner of the estate or interest.
A legal description of the parcel of land covered.
Requirements and Notes.
The easements, liens, encumbrances and other matters which affect the title to the land at the date and time of the report.

Follow the link below to download this informational guide!

Ticor Title was Title Insurance and Trust Company, often called “TI” , opened for business on January 15, 1894. Ticor Title is a member of the Fidelity National Financial, Inc. family of companies. FNF is a leading provider of title insurance, mortgage services, and diversified services. In financial strength and claims-paying ability, Ticor Title and FNF consistently receive high marks. FNF is ranked #402 in the 2019 Fortune 500 list.

Our management team recently sat down with Dave Ross with KIRO FM and answered these two important questions.

• What Makes Ticor Title Different?
• Can You Choose Your Title Insurance Company?

Effective January 1st 2020 the new Graduated Real Estate Tax went into effect. To accommodate this update, we recently unveiled our online REET Calculator designed to save you time and give you a clear understanding of what to expect in the coming year. We have taken this a step further with the development of a interactive REET widget that loads automatically on MyTicor.com!

To try the Widget simply visit MyTicor.com and it will load automatically!

What is REET? Real estate excise tax (REET) is a tax on the sale of real estate. The real estate excise tax is typically paid by the seller of the property, although the buyer is liable for the tax if it is not paid. The tax applies to the seller. The tax also applies to transfers of controlling interests (50% or more) in entities that own property in the state.

We know that getting information quickly and accurately can sometimes make or break a deal. One forward thinking approach we take
at Ticor Title is how we offer our Title & Escrow Rates and Closing Protection Letters (CPLs).

Here are two ways to eliminate delays and streamline the transaction workflow

• Closing Protection Letters Delivered in 1-Minute or Less
• Title & Escrow Rates Provided Instantly and Accurately

Follow the link below to read more about how these two processes can help to save you time in your business!

We are proud to say we have partnered with long time local area consumer protection advocate Herb Weisbaum of KOMO to bring you Technology and Title Tips.

KOMO Technology and Ticor Title Tips

• Do you know what the 4 things you should never share via text, email or fax are?
• What is Title and Escrow?

Making a simple financial transaction is pretty straightforward, right?
You get the goods, he/she 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?

We answer this question and more including…

• Escrow Workflow – 12 Steps to Closing
• Funds and Proceeds – Tips for a Successful Escrow Closing
• Deed Types – What are the Differences

Follow the link below to Watch our “What is Escrow” Video and Download the Guide!

With 2020 just around the corner, we have made our annual County Recorders’ Office Holiday Calendar available for download.

This Calendar shows the following useful information.

• Which days of the year the County Recorders’ Office will be Closed
• Last day of the month to sign Refinance
• Which days of the year the Tax Payments are due

Follow the link below to download the 2020 Holiday Calendar now!

We are proud to say we have partnered with long time local area consumer protection advocate Herb Weisbaum of KOMO to bring you Technology and Title Tips.

KOMO Technology and Ticor Title Tips

• Google’s new privacy tool launched in September, but why is this important to you?
• 7 Reasons Why Every Homebuyer Needs Owner’s Title Insurance

Effective January 1st 2020 the new Graduated Real Estate Tax will go in effect. Our brand new simple and easy to use online REET Calculator will save you time and give you a clear understanding of what to expect in the coming year.

What is REET?

Real estate excise tax (REET) is a tax on the sale of real estate. The real estate excise tax is typically paid by the seller of the property, although the buyer is liable for the tax if it is not paid. The tax applies to the seller. The tax also applies to transfers of controlling interests (50% or more) in entities that own property in the state.

Try the New Online Calculator Below!