As an escrow officer I field countless questions from Realtors, lenders, and consumers, so I thought I'd put together a list of the top ten questions I get on a regular basis and address them through a series of blog posts.
Here are my top ten:
10. My buyer/seller won't be in town for closing--how can we handle that?
9. What is an R8 credit and how is it calculated?
8. Why do I need an owner's title insurance policy when the property was recently purchased (i.e. a flip)?
7. Can I add my spouse or someone else to title after closing?
6. Can my seller/buyer give someone Power of Attorney to facilitate the closing on their behalf?
5. There is a deceased person in title--what do we do?
4. Why can't we just do a Quitclaim Deed?
3. Why does the title company care about the marital status of the seller/buyer?
2. Property taxes--how are they prorated?
1. Can we use this prior survey?
So keep checking back!
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Thursday
I love my Title Department!
I'm not kidding--they are the best in the business!
I got a call 2 days ago from a woman who, along with her husband, is trying to refinance her house. The lender had opened a title order with another title company who has been dragging their feet on a Probate issue. She explained the issue to me as she understood it, then she wanted to know if we'd look at it and see if we could close it...quickly. Their interest rate lock is set to expire in a few days so I needed to get it moved through on a major rush.
Got in touch with her lender and they sent over the paperwork so I could get the ball rolling. I entered the order on a rush and included what little information I had regarding the Probate. About 24 hours later I had a commitment ready to print, but there was still a requirement for review of the full Probate documents, which I soon found out they'd already ordered (ball still rolling!). Then this morning I got an email from the examiner that there is one document I need to file a certified copy of in the real property records and I'm good to go! I called to talk it over with him a little and he said the certified copy I needed had already been ordered and would be sent directly to me. Wow! I'm thrilled with the service I get from our title department.
I called the borrower and told her the good news and she is ecstatic. We should be able to close her tomorrow. I love this stuff! It's such a great feeling to have a team behind you that can help you pull things together for your customers.
I got a call 2 days ago from a woman who, along with her husband, is trying to refinance her house. The lender had opened a title order with another title company who has been dragging their feet on a Probate issue. She explained the issue to me as she understood it, then she wanted to know if we'd look at it and see if we could close it...quickly. Their interest rate lock is set to expire in a few days so I needed to get it moved through on a major rush.
Got in touch with her lender and they sent over the paperwork so I could get the ball rolling. I entered the order on a rush and included what little information I had regarding the Probate. About 24 hours later I had a commitment ready to print, but there was still a requirement for review of the full Probate documents, which I soon found out they'd already ordered (ball still rolling!). Then this morning I got an email from the examiner that there is one document I need to file a certified copy of in the real property records and I'm good to go! I called to talk it over with him a little and he said the certified copy I needed had already been ordered and would be sent directly to me. Wow! I'm thrilled with the service I get from our title department.
I called the borrower and told her the good news and she is ecstatic. We should be able to close her tomorrow. I love this stuff! It's such a great feeling to have a team behind you that can help you pull things together for your customers.
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