A post on Facebook prompted me to compose this post. Yep, Facebook. Although I am now VP - New Media and Education for Chicago Title Agency, in my recent past I managed a branch operation for the company for ten years. During those ten years, I witnessed thousands of different HLDE's (Hectic Last Days of Escrow). A quick disclaimer ”“ I am writing about residential real estate transactions in Arizona. Each state has their own rules. It is important to note that 90% of the work on an … [Read more...]
What can Title Companies do for Real Estate Agents? (and brokerages)
As real estate professionals, one of our primary “partners” in every real estate transaction is a title company (along with lenders, appraisers, inspectors, stagers, landscapers, plumbers”¦ well you get the idea). I was recently asked by a title company representative, “What is the most important thing a title company can do for you, a real estate broker?” My response was simple: Communicate. Ask a home buyer or seller what is the most important thing their agent can do for them, and I bet … [Read more...]
Why Do You Need Title Insurance? In Plain English
Why do you need title insurance? It's the second most asked question in our office. The most asked question is - When do we get the keys? That was discussed in an earlier post here at TPREG.com. Let's start with the official definition for title insurance. From www.ctic.com, we have the following: Title Insurance ”“ Assurance of indemnification for loss occasioned by defects in the title to real property or to an interest therein which is insured. Huh? Clear as mud, … [Read more...]
So, When Do We Get The Keys?
It's the most asked question after the buyers sign their loan package. So, when do we get the keys? They may be buying their retirement home or it could be a first time home buyer. It doesn't matter. They all want to know the answer to that question. The official answer is "In Arizona, the property transfers or conveys upon recordation of the deed with the County Recorder." This official answer doesn't really help the buyer. They want to know how long it will take to complete the … [Read more...]
Maybe You Shouldn’t Attend Your Client’s Signings…
What better place to get something off my chest than Jay's site. Jay's been known a time or three to rant a bit here, (my personal favorite is still the Tempe towing scam) so I figure he'll understand. Before I begin, I've struggled as to whether I should even be writing on this topic. As a branch manager for a title company, my bread is buttered by agents and lenders referring their clients to my office. I'm always grateful when an agent or lender has faith in me and my staff to take care of … [Read more...]
The Phoenix Real Estate Guy was started by Jay Thompson, and I have a little blogging problem... he liked to say...