It is not unusual that folks stop by our office to ask questions about title, escrow and closing process.
In the past 24hours, I have been contacted by two property owners who are
currently listed.
One, is listed with the biggest Cleveland area company and the other, with a franchise
broker.located just outside of Cleveland.
For various reasons, they each are very unhappy with the service they are getting
from their agents.
Each of them contacted the listing agents office to request a release from the listing
agreement they signed.
In each case they tell me they were told absolutely NO!
One of them was told by the agent that she was in the business to make money
and what he wanted was not important!.
The other seller was left was in tears by the office manager's response.
I guess this is really none of my business - but they came to me and it does bother me
that these "professionals" are only making the image worse for those hard working Cleveland area
real state agents who put their heart and soul into taking care of their customers and clients as
they should be.
Many sellers stop by that we don't know -
I think they are looking for someone to listen to them.
There is nothing I can do or offer about their problem....
But - I listen!
Tuesday, June 18, 2013
Wednesday, May 29, 2013
How's the Title Business?
How's the title Business?
Lately I'm hearing this a lot.
Honestly, I can tell you business is a lot busier than it has been for the past few years!
It's been tough. Hanging in there has been the challenge of my lifetime.
This is my family business - not so easy to give up when the whole
family is involved. It's a time we found what we are really made of.
Everyone sacrificed and worked hard to keep it going.
I've prayed. I've cried. I've gone through exhaustion.
At times I almost forgot how to laugh.
Gateway Title will celebrate 20 years of doing business next month.
There were times I wondered if that would happen.
I know I'm not alone. I know many good people left the business.
There is another side to what I've experienced.
I've learned God does hear prayers I still cry when I hear "God Bless America"
I sleep better at night and my family is stronger then I thought.
Yes the title business is busier lately and we are still here working and doing what we love -
helping buyers and sellers
through the mysterious title and escrow process.
I also know we couldn't do it without you, our wonderful customers
Thank you
Lately I'm hearing this a lot.
Honestly, I can tell you business is a lot busier than it has been for the past few years!
It's been tough. Hanging in there has been the challenge of my lifetime.
This is my family business - not so easy to give up when the whole
family is involved. It's a time we found what we are really made of.
Everyone sacrificed and worked hard to keep it going.
I've prayed. I've cried. I've gone through exhaustion.
At times I almost forgot how to laugh.
Gateway Title will celebrate 20 years of doing business next month.
There were times I wondered if that would happen.
I know I'm not alone. I know many good people left the business.
There is another side to what I've experienced.
I've learned God does hear prayers I still cry when I hear "God Bless America"
I sleep better at night and my family is stronger then I thought.
Yes the title business is busier lately and we are still here working and doing what we love -
helping buyers and sellers
through the mysterious title and escrow process.
I also know we couldn't do it without you, our wonderful customers
Thank you
Friday, May 17, 2013
Buyers will like this - I dare you!
Rachel says, "I Dare You!"
How many calls do you get from your “for sale” sign?
Increase the action on your property.
Separate your property from the pack.
Put it “on sale” and write the sale price right on your sign!
You put the asking price on your flyers, but how many buyers actually
stop the car to take the flyer?
This is an up front, in your face, bold way to advertise on your lawn
sign. I discovered this selling secret from sellers who did it and got a
buyer from the attention it drew.
Anything can be for sale,
The real deals are “on sale”.
If you’d like a white Plastic sign, we found some old signs on which you
could write the asking price and attach to your present yard sign.
Just stop by our Gateway Title Brecksville office and get yours for
free – while the supply last.
Email or call us at 440 546 9660 for more information on this
challenge.
Do you dare?
Rachel
How many calls do you get from your “for sale” sign?
Increase the action on your property.
Separate your property from the pack.
Put it “on sale” and write the sale price right on your sign!
You put the asking price on your flyers, but how many buyers actually
stop the car to take the flyer?
This is an up front, in your face, bold way to advertise on your lawn
sign. I discovered this selling secret from sellers who did it and got a
buyer from the attention it drew.
Anything can be for sale,
The real deals are “on sale”.
If you’d like a white Plastic sign, we found some old signs on which you
could write the asking price and attach to your present yard sign.
Just stop by our Gateway Title Brecksville office and get yours for
free – while the supply last.
Email or call us at 440 546 9660 for more information on this
challenge.
Do you dare?
Rachel
Saturday, May 4, 2013
Wednesday, April 24, 2013
Tuesday, April 16, 2013
WE MUST GO ON
Yes, it's horrible.
On April 13,2013 many lives were changed forever.
I felt so much sadness and anger, I wasn't sure how to handle it.
Holding back tears, I continued to go through the process of
my daily activities.
As the evening progressed, I realized I must find a way to
not let this awful thing paralyze me.
They can not win.
This world I knew as a child is gone.
I pray that the world my children and Grand children
is one that they experience with love and security.
God Bless America!
On April 13,2013 many lives were changed forever.
I felt so much sadness and anger, I wasn't sure how to handle it.
Holding back tears, I continued to go through the process of
my daily activities.
As the evening progressed, I realized I must find a way to
not let this awful thing paralyze me.
They can not win.
This world I knew as a child is gone.
I pray that the world my children and Grand children
is one that they experience with love and security.
God Bless America!
Thursday, April 4, 2013
LIVE FOR TODAY - REPEAT!
TODAY'S SELF-TALK: "I live today for today. I learn from yesterday, and prepare for tomorrow, but today I focus on today, and make every precious moment count. Now is my time, this is my moment, and today is my day."
Repeat - Repeat - Repeat!
Repeat - Repeat - Repeat!
Friday, March 29, 2013
WHY DOES IT COST SO MUCH TO SELL OR BUY A HOME?
Every so often, I get the "deer in the headlights" look from a seller at the closing table. Some sellers ask "Why do you charge me so much to sell my home?"
Some call me and tell me to "sharpen my pencil" that one makes my blood boil!
I love what I do to make others dreams come true.
I insure and protect the American dream and that is pretty awesome responsibility.
In order to achieve this I have to do a lot of work.
Examine the title, commit to the conditions to insure.
As the neutral escrow agent, I follow contract and lender instructions to complete the deal-
Keep in touch with ALL parties and hope they return calls and co-operate to get it done.
Then there's Real estate agents, inspectors, insurance agents, city and county offices, attorneys,
and we collect the lender's charges for the mortgage loan.
Sometimes, there are well meaning relatives who think they know more than we. Loan officers and their processors, who have different stories to tell buyers, get mortgage pay-offs, taxes, appointments for signing -one each for buyer and seller. This is an escrow closing area. Make sure deed and mortgage are filed on time, and disburse the funds to all involved including paying off the mortgage. We wire most of these and it is not free and..when it is all over...
I issue a title insurance policy to protect the American Dream!
Do you have any idea the number of hours we put into a real estate transfer title?
Much of what is charged, I am collecting for another party -: the county/state transfer tax (a biggie) and we collect the lender's charges for the mortgage loan. and the
real estate commission, the biggest biggie.
I totally believe in educating the buyers and sellers through our free workshops, consultations, plus
the zillions of phone calls I take and explain costs up front.
Sometimes they "forget".
We are the low man(or woman) on the totem pole when it comes to fees involved in a real estate purchase or sale, I started Gateway Title 21 years ago.
I guess I keep doing this because I love it!
Call me when you are buying or selling for a free estimate and explanation of the costs involved. PS. Did you know the seller and buyer have a right to choose the title company used for their closing?
Some call me and tell me to "sharpen my pencil" that one makes my blood boil!
I love what I do to make others dreams come true.
I insure and protect the American dream and that is pretty awesome responsibility.
In order to achieve this I have to do a lot of work.
Examine the title, commit to the conditions to insure.
As the neutral escrow agent, I follow contract and lender instructions to complete the deal-
Keep in touch with ALL parties and hope they return calls and co-operate to get it done.
Then there's Real estate agents, inspectors, insurance agents, city and county offices, attorneys,
and we collect the lender's charges for the mortgage loan.
Sometimes, there are well meaning relatives who think they know more than we. Loan officers and their processors, who have different stories to tell buyers, get mortgage pay-offs, taxes, appointments for signing -one each for buyer and seller. This is an escrow closing area. Make sure deed and mortgage are filed on time, and disburse the funds to all involved including paying off the mortgage. We wire most of these and it is not free and..when it is all over...
I issue a title insurance policy to protect the American Dream!
Do you have any idea the number of hours we put into a real estate transfer title?
Much of what is charged, I am collecting for another party -: the county/state transfer tax (a biggie) and we collect the lender's charges for the mortgage loan. and the
real estate commission, the biggest biggie.
I totally believe in educating the buyers and sellers through our free workshops, consultations, plus
the zillions of phone calls I take and explain costs up front.
Sometimes they "forget".
We are the low man(or woman) on the totem pole when it comes to fees involved in a real estate purchase or sale, I started Gateway Title 21 years ago.
I guess I keep doing this because I love it!
Call me when you are buying or selling for a free estimate and explanation of the costs involved. PS. Did you know the seller and buyer have a right to choose the title company used for their closing?
Monday, March 18, 2013
To all sellers
I have been researching marketing real estate and I have discovered that putting the sale price on the sign creates activity on the property creating a better position in finding a buyer.
Do you have thoughts on this? I would appreciate it if you would please reply back to me with your opinion.
Thanks for taking the time to help.
Keeping Life Simple,
Rachel Torchia
President
Gateway Title Agency Inc.
8748 Brecksville Road Suite 100
Brecksville, Ohio 44141
Phone: (440) 546-9660
rachel@gatewaytitle.com
Reak Estate Actuality editor
I have been researching marketing real estate and I have discovered that putting the sale price on the sign creates activity on the property creating a better position in finding a buyer.
Do you have thoughts on this? I would appreciate it if you would please reply back to me with your opinion.
Thanks for taking the time to help.
Keeping Life Simple,
Rachel Torchia
President
Gateway Title Agency Inc.
8748 Brecksville Road Suite 100
Brecksville, Ohio 44141
Phone: (440) 546-9660
rachel@gatewaytitle.com
Reak Estate Actuality editor
Saturday, March 16, 2013
A FACEBOOK CONVERSATION ABOUT SELLING FSBO
- I really think that FOR SALE BY OWNERS (fsbo) should advertise the asking price on their yard sign. I heard from a former FSBO seller who did just that and it worked!
- the following is our posting about that belief .
- It was a big discussion at the workshop this morning. I am pretty sure at least one seller is going to do it. I'll let you know the results as things progress. If you are on Facebook "like" Gateway Title- The FSBO Specialists. We get into some interest things about today's real estate market.
Melissa Rocky Lewis Hah! Don't know about that. I just remember my own house hunting. It was always the first thing I wanted to know as I drove by... "I wonder if I can afford that one."- Gateway Title - The FSBO Specialists I think that is most everyone's first reaction - human nature, so why not feed it?
Wednesday, March 6, 2013
OBITUARY FROM LONDON TIMES
An Obituary printed in the London Times -
Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape.
He will be remembered as having cultivated such valuable lessons as:
- Knowing when to come in out of the rain;
- Why the early bird gets the worm;
- Life isn't always fair; and
- Maybe it was my fault..
Common Sense lived by simple, sound financial policies (don't spend more than you can earn) and reliable strategies (adults, not children, are in charge). His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.
Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.
It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.
Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.
Common Sense took a beating when you couldn't defend yourself from a burglar in your own home and the burglar could sue you for assault.
Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.
Common Sense was preceded in death, by his parents, Truth and Trust, by his wife, Discretion, by his daughter, Responsibility, and by his son, Reason.
He is survived by his 4 stepbrothers:
I Know My Rights
I Want It Now
Someone Else Is To Blame - I'm A Victim
Not many attended his funeral because so few realized he was gone.
If you still remember him, pass this on. If not, join the majority and do nothing.
Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape.
He will be remembered as having cultivated such valuable lessons as:
- Knowing when to come in out of the rain;
- Why the early bird gets the worm;
- Life isn't always fair; and
- Maybe it was my fault..
Common Sense lived by simple, sound financial policies (don't spend more than you can earn) and reliable strategies (adults, not children, are in charge). His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place. Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; teens suspended from school for using mouthwash after lunch; and a teacher fired for reprimanding an unruly student, only worsened his condition.
Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children.
It declined even further when schools were required to get parental consent to administer sun lotion or an aspirin to a student; but could not inform parents when a student became pregnant and wanted to have an abortion.
Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.
Common Sense took a beating when you couldn't defend yourself from a burglar in your own home and the burglar could sue you for assault.
Common Sense finally gave up the will to live, after a woman failed to realize that a steaming cup of coffee was hot. She spilled a little in her lap, and was promptly awarded a huge settlement.
Common Sense was preceded in death, by his parents, Truth and Trust, by his wife, Discretion, by his daughter, Responsibility, and by his son, Reason.
He is survived by his 4 stepbrothers:
I Know My Rights
I Want It Now
Someone Else Is To Blame - I'm A Victim
Not many attended his funeral because so few realized he was gone.
If you still remember him, pass this on. If not, join the majority and do nothing.
Monday, March 4, 2013
AND THE WINNER IS? BOTH- BUYER &SELLER!
Follow up ...
Well the buyer and seller finally came to terms and are ready to move on. How did it turn out?
Seller accepts the pro ration of taxes but refused to pay for title insurance. Buyer accepts paying for his title insurance (he wouldn't take title without it).
They made a few other adjustments and are ready to move on.
The moral of this story is.....
If you really want to sell and they really want to buy, KEEP TALKING AND WORK IT OUT!
Well the buyer and seller finally came to terms and are ready to move on. How did it turn out?
Seller accepts the pro ration of taxes but refused to pay for title insurance. Buyer accepts paying for his title insurance (he wouldn't take title without it).
They made a few other adjustments and are ready to move on.
The moral of this story is.....
If you really want to sell and they really want to buy, KEEP TALKING AND WORK IT OUT!
Saturday, March 2, 2013
LEASE/PURCHASES ARE CONVERTING TO PURCHASE
A new Real Estate Trend has come to our attention
We are getting more "LEASE /PURCHASE" agreements, now converting to the
purchase.
They need a title company to follow the agreement
instructions and close it for them. We do that!
Please give me a call at 440 546 9660 or email me rachel@gatewaytitle.com
If you have questions or need help with this.
That's what we do!
THIS IS WHY WE DO WHAT WE DO
An email from Tracy:
Rachel and Barb,
Thanks so much for all you did to make my title work a breeze. I also
appreciate all you did to accomodate my agile schedule today. Despite all the
reworking and running around, I was able to arrive at home just in time to meet
the carpet installers as they were ringing my doorbell.
Best regards, Tracy
Thanks Tracy - You made our day!
Wednesday, February 27, 2013
SELLER A CONTROL FREAK OR JUST PLAIN NUTS!
Got this call yesterday.
They are trying to buy, for cash, a home that has been on the market since 2008.
They offered the asking price which is now at market value, splitting the fees equally..
Seller countered by adding closing cost and tax pro ration to offered price.
He thinks he shouldn't have to pay any costs or his own real estate taxes!
Hello....This is 2013... Is this seller nuts or what?
He needs help.
They are trying to buy, for cash, a home that has been on the market since 2008.
They offered the asking price which is now at market value, splitting the fees equally..
Seller countered by adding closing cost and tax pro ration to offered price.
He thinks he shouldn't have to pay any costs or his own real estate taxes!
Hello....This is 2013... Is this seller nuts or what?
He needs help.
Tuesday, February 26, 2013
Cleveland Area Real Estate and Gateway Title
Most often asked question since 2008 is....
"How are you guys doing?"
It is still the number one question I hear.
Aside from the fact that this has been a down real estate market
that is starting to show signs of life, ( a good thing)
we certainly are constantly challenged by outside forces such as:
• Banks that own their own title company and think they are entitled to make more money off the consumer with title and closing fees.
• Real estate agents that own their own title company and think they are entitled to make more money off the consumer with title and closing fees.
• National title insurance underwriters who form a title alliances with banks and lenders thereby cutting out their own independent agents so they, (our own underwriters) make more money.
• Consumers who are afraid to speak up for themselves and let others take advantage of them!
Other than that, we have no problems.
We are doing better than most other title agencies.
The last figure I heard was over 50% have closed their doors since 2008
That saddens me.
On the brighter side…
We have many loyal clients who Trust their Title to Gateway and refer others to us.
For them, I am grateful.
Please, give us a call for you and your family’s title and escrow needs.
We’ll be here for you.
Thanks for Asking,
Take Care,
Rachel
"How are you guys doing?"
It is still the number one question I hear.
Aside from the fact that this has been a down real estate market
that is starting to show signs of life, ( a good thing)
we certainly are constantly challenged by outside forces such as:
• Banks that own their own title company and think they are entitled to make more money off the consumer with title and closing fees.
• Real estate agents that own their own title company and think they are entitled to make more money off the consumer with title and closing fees.
• National title insurance underwriters who form a title alliances with banks and lenders thereby cutting out their own independent agents so they, (our own underwriters) make more money.
• Consumers who are afraid to speak up for themselves and let others take advantage of them!
Other than that, we have no problems.
We are doing better than most other title agencies.
The last figure I heard was over 50% have closed their doors since 2008
That saddens me.
On the brighter side…
We have many loyal clients who Trust their Title to Gateway and refer others to us.
For them, I am grateful.
Please, give us a call for you and your family’s title and escrow needs.
We’ll be here for you.
Thanks for Asking,
Take Care,
Rachel
Thursday, February 21, 2013
WHAT MAKES PROPERTIES HOT?
I have watched this strange phenomena for years.:
A home is on the market for months and nothing happens.
Expanded advertising is done and nothing happens.
Open houses are held and nothing happens.
The price is reduced and nothing happens.
Fliers are distributed and nothing happens.
Nothing is done -( status quo) - and nothing happens.
and THEN.........
A potential buyer shows interest ... and then another shows interest...
and maybe even more show interest and something happens!
OFTEN, even a BIDDING WAR happens and the property is ...
SOLD!
What happened?
Why?
I don't know and I can't explain it.
I just know that it is something strange that hppens.
A house gets HOT and everyone seems to want it.
It seems like every house does has it's time. I've watched this over and over.
It does happen - if you're selling, get ready,
This could happen to your property!
HOT! HOT! HOT!
A home is on the market for months and nothing happens.
Expanded advertising is done and nothing happens.
Open houses are held and nothing happens.
The price is reduced and nothing happens.
Fliers are distributed and nothing happens.
Nothing is done -( status quo) - and nothing happens.
and THEN.........
A potential buyer shows interest ... and then another shows interest...
and maybe even more show interest and something happens!
OFTEN, even a BIDDING WAR happens and the property is ...
SOLD!
What happened?
Why?
I don't know and I can't explain it.
I just know that it is something strange that hppens.
A house gets HOT and everyone seems to want it.
It seems like every house does has it's time. I've watched this over and over.
It does happen - if you're selling, get ready,
This could happen to your property!
HOT! HOT! HOT!
Thursday, February 14, 2013
IT happenes All the Time - I Love IT!
I had an appointment at the Cleveland Eye Clinic for a check-up yesterday.
The assistant had my chart and was confirming /updating my personal information.
She paused... and then said "Oh, you work at Gateway Title they did our closing when we bought our home! I still have my Gateway mug, the picture you took and the pretty pens we used to sign our papers"!
I know I had a big smile on my face and I told her Gateway Title was my company and
she really made my day.
She Thanked me for making them feel so welcomed, and how we made it so easy for them to relax and
go through the paper work.
She said we were the "Best part of buying the home".
She was the "Best Part" of my day!
Thank You Shana.
The assistant had my chart and was confirming /updating my personal information.
She paused... and then said "Oh, you work at Gateway Title they did our closing when we bought our home! I still have my Gateway mug, the picture you took and the pretty pens we used to sign our papers"!
I know I had a big smile on my face and I told her Gateway Title was my company and
she really made my day.
She Thanked me for making them feel so welcomed, and how we made it so easy for them to relax and
go through the paper work.
She said we were the "Best part of buying the home".
She was the "Best Part" of my day!
Thank You Shana.
Tuesday, February 12, 2013
I Deserved A Break . Watch Out ..I'm Back!
Hi There,
It's Hard to back to my reality today.
Four days in Las Vegas is NOT reality.
We had a really fun time but it is not the kind of life style I'd want on a permanent basis.
I was delighted at the real estate activity that took place while I was gone...
A lot can happen in 4 days.
Seller number three dropped off a signed purchase agreement and an earnest money check Monday.
So it's three down and definitely lots more to do - based on the phone calls I had from
prospective buyers and sellers today!
YAHOO - let's get this real estate market MOVING!
We all know this economy needs to grow stronger for the good of us all!
It's Hard to back to my reality today.
Four days in Las Vegas is NOT reality.
We had a really fun time but it is not the kind of life style I'd want on a permanent basis.
I was delighted at the real estate activity that took place while I was gone...
A lot can happen in 4 days.
Seller number three dropped off a signed purchase agreement and an earnest money check Monday.
So it's three down and definitely lots more to do - based on the phone calls I had from
prospective buyers and sellers today!
YAHOO - let's get this real estate market MOVING!
We all know this economy needs to grow stronger for the good of us all!
Wednesday, February 6, 2013
Two Done, One To Go
Three Sellers contacted me last Friday because they found buyers for their properties and were ready to go.Two of the three have completed signing and we have started the process of closing for them.
Number three's buyer called me yesterday, with questions on lender fees and closing costs. I worked up closing costs for her and emailed. We talked a while as I answered her questions.
This is the part I Love doing.
Most buyers and sellers have very little knowledge of costs and just how it all comes together.
It's not every day you buy or sell a house and things do change also.
Just why in the heck do you need title insurance and what is escrow?
How much is all of this going to cost?
Call me - then you'll know!
PS. I Love what I do!
Number three's buyer called me yesterday, with questions on lender fees and closing costs. I worked up closing costs for her and emailed. We talked a while as I answered her questions.
This is the part I Love doing.
Most buyers and sellers have very little knowledge of costs and just how it all comes together.
It's not every day you buy or sell a house and things do change also.
Just why in the heck do you need title insurance and what is escrow?
How much is all of this going to cost?
Call me - then you'll know!
PS. I Love what I do!
Tuesday, February 5, 2013
DO IT- DO IT- NOW!
Real Estate Sellers and Buyers Have Been Waiting For Several Years Now.
It's about time that the market is improving!
A healthy real estate market is the perfect medicine for our country's ailing economy.
From soup to nuts, everything is affected by the building and housing market.
I don't need to study statistics to see what is happening,
Everything has its time and the time to heal our sick economy is NOW!
PS. If I were looking to buy real estate,
I'd do it now, before rates and prices rise -( and they will you know)
It's about time that the market is improving!
A healthy real estate market is the perfect medicine for our country's ailing economy.
From soup to nuts, everything is affected by the building and housing market.
I don't need to study statistics to see what is happening,
Everything has its time and the time to heal our sick economy is NOW!
PS. If I were looking to buy real estate,
I'd do it now, before rates and prices rise -( and they will you know)
Monday, February 4, 2013
How It Really happens...Follow FSBO Chris
Last Friday, Chris called me. He found our www.gatewaytitle.com when he googled for help.in selling his house.
I listened as he explained his situation and offered him the paper work our attorney has prepared for those who are going FSBO (For Sale By Owner).
He printed them from our website - everything he needed - Perfect!
He asked about fees and how we figure them.I explained many final costs are based
on selling price.
He didn't have that as he was making plans to meet with the potential buyer.
I suggested he SMART START his title work and save $125... nice
He did that so I am all ready checking out the title so he can sell.
This scenario is not new to me - been doing it since 1995 -I love what we do.
Good Luck Chris with the potential buyer.
I'm here to help walk you through the closing.
P.S. I keep you posted as to how Chris does.
I listened as he explained his situation and offered him the paper work our attorney has prepared for those who are going FSBO (For Sale By Owner).
He printed them from our website - everything he needed - Perfect!
He asked about fees and how we figure them.I explained many final costs are based
on selling price.
He didn't have that as he was making plans to meet with the potential buyer.
I suggested he SMART START his title work and save $125... nice
He did that so I am all ready checking out the title so he can sell.
This scenario is not new to me - been doing it since 1995 -I love what we do.
Good Luck Chris with the potential buyer.
I'm here to help walk you through the closing.
P.S. I keep you posted as to how Chris does.
Tuesday, January 29, 2013
Okay, I VENTED - I'M FEELING BETTER NOW!
It's safe to call or email me if you need to know what it will cost
to buy or sell that piece of real estate in Ohio.
Email them to: rachel@gatewaytitle.com
Call me at Gateway Title: 440-546 9660
I really do enjoy helping you and
answering your questions.
to buy or sell that piece of real estate in Ohio.
Email them to: rachel@gatewaytitle.com
Call me at Gateway Title: 440-546 9660
I really do enjoy helping you and
answering your questions.
She said::"SHARPEN YOUR PENCIL" - REALLY?
I get calls from buyers and sellers everyday.
They ask a million questions about all phases of real estate.
Much of the time it is about closing costs.
I always take the time to explain who usually pays for what and how much.
Now, this is not something I just throw out there. Many of the fees
depend on the price or if it is a refinance. the amount of the loan.
That being said, I'll explain to you how I figure costs.
1. Examination of records to determine the condition of the title.
2. Escrow fee to cover the cost of escrow officer who handles all of the paper work
and funds required, clears the title so that buyer gets marketable title, prepare paper work
from the lender for buyer, get deed for seller, pay all of the bills,
make sure the buyer gets the property
and disburse to seller their money and more...
3. Title insurance premiums in Ohio are all the same since Ohio is a "rated state".
The cost of the insurance is based on the price or mortgage amount.
TOTAL closing costs will be more than the above three items.
We have to collect up front from buyer and/or seller for transfer tax, filing fees, lenders' mortgage fees,
real estate commissions and other recording fees, cost of survey, wire fees, overnight fees..and it goes on and on.
What ever the contract states - we do!
So -there are TWO fees that I control:
TITLE & ESCROW
So, depending on the information you provide, based on the selling price, I can figure out an estimate of closing costs for both buyers and sellers.
Just give me call.
But.... please remember, there are many costs I collect not many are actually mine!
They ask a million questions about all phases of real estate.
Much of the time it is about closing costs.
I always take the time to explain who usually pays for what and how much.
Now, this is not something I just throw out there. Many of the fees
depend on the price or if it is a refinance. the amount of the loan.
That being said, I'll explain to you how I figure costs.
1. Examination of records to determine the condition of the title.
2. Escrow fee to cover the cost of escrow officer who handles all of the paper work
and funds required, clears the title so that buyer gets marketable title, prepare paper work
from the lender for buyer, get deed for seller, pay all of the bills,
make sure the buyer gets the property
and disburse to seller their money and more...
3. Title insurance premiums in Ohio are all the same since Ohio is a "rated state".
The cost of the insurance is based on the price or mortgage amount.
TOTAL closing costs will be more than the above three items.
We have to collect up front from buyer and/or seller for transfer tax, filing fees, lenders' mortgage fees,
real estate commissions and other recording fees, cost of survey, wire fees, overnight fees..and it goes on and on.
What ever the contract states - we do!
So -there are TWO fees that I control:
TITLE & ESCROW
So, depending on the information you provide, based on the selling price, I can figure out an estimate of closing costs for both buyers and sellers.
Just give me call.
But.... please remember, there are many costs I collect not many are actually mine!
Thursday, January 24, 2013
BUYER'S DEMANDS BULLY SELLER
How Buyers have changed over the years. When we bought our first home, we bought the home not the color of paint on the walls or type of counter tops in the kitchen. We looked for the house that met our family's needs and offered the neighborhood in which we felt comfortable. We knew there were things we would be changing as we made the house our home.
The right fit for our family came in PINK - yep a pink house! We moved into the home in Sept. and the following summer I - yes ME- I painted it white! The little "pink" house went through many changes in the 4 years we lived there and by the second year, it was just the way I wanted it.
We put new tile in the bathroom, new carpeting throughout and repainted to our taste in colors. I always had the feeling that if I looked for a place that needed nothing, it would always be someone else's house and I wanted it to reflect our family. There also was a lot of pride in knowing we had done it and made it "Ours".
I have the feeling that today's buyers are missing out and paying a lot more than they have to for someone else's decor.
I've seen "laundry lists" of things the buyers want sellers to do.Of course, the offered bid was very low. New roof, new furnace, remove wall paper, paint basement...Yes, it is ridicules!
I suppose this all started because sellers were so desperate that they were willing to do most anything to sell. Let's see...buy low and have the seller remodel!
The market is improving and sellers are not as desperate. I would like to see common sense return to the real estate market. Think it will happen or do we all watch "House Hunters" too much on tv?
The right fit for our family came in PINK - yep a pink house! We moved into the home in Sept. and the following summer I - yes ME- I painted it white! The little "pink" house went through many changes in the 4 years we lived there and by the second year, it was just the way I wanted it.
We put new tile in the bathroom, new carpeting throughout and repainted to our taste in colors. I always had the feeling that if I looked for a place that needed nothing, it would always be someone else's house and I wanted it to reflect our family. There also was a lot of pride in knowing we had done it and made it "Ours".
I have the feeling that today's buyers are missing out and paying a lot more than they have to for someone else's decor.
I've seen "laundry lists" of things the buyers want sellers to do.Of course, the offered bid was very low. New roof, new furnace, remove wall paper, paint basement...Yes, it is ridicules!
I suppose this all started because sellers were so desperate that they were willing to do most anything to sell. Let's see...buy low and have the seller remodel!
The market is improving and sellers are not as desperate. I would like to see common sense return to the real estate market. Think it will happen or do we all watch "House Hunters" too much on tv?
Wednesday, January 23, 2013
"For Sale By Owners" More Determined Than Ever!
We, at Gateway Title, truly are "FSBO"(For Sale By Owner) experts.
This has been our niche' for 17 years and we have seen it all!
Before 2008, sellers would put their house on the market "by owner" to try it for a couple of weeks.
They usually set the asking price too high with the thought of making a real killing in a seller's market!
After a couple of weeks, if the property is not sold, the sellers call a real estate agent and list at a true market price,it sells and they pay a commission.
Then of course, the past 4 years have been pretty dead. They go "by owner", then list, and when it expires go back to FSBO or, in total frustration, take it off the market completely!
Now the "For Sale By Owners" are coming back with a determination I have never seen before.
They order our "Starter Kit" and also, as never before, read every word and call to "Smart Start" the title work (saves them $$).
They are tuned in to the real market value, they refuse to have to pay comission, many times,
they offer modest
closing credits to a buyer, and THEY ARE SUCCEEDING!
It seems like Gateway is part of the FSBO underground because we get so many request from sellers who were referred by other buyers and sellers.We are working with many "family to family" transactions like never before and it seems like "starter" homes are back in demand!
Folks come out of the blue to use our services and we absolutely LOVE it!
We hope this activity is an indication of an improving market for all.
Heaven knows a better economy is what we're all praying for!
PS. Don't stop praying...We think it's working!
This has been our niche' for 17 years and we have seen it all!
Before 2008, sellers would put their house on the market "by owner" to try it for a couple of weeks.
They usually set the asking price too high with the thought of making a real killing in a seller's market!
After a couple of weeks, if the property is not sold, the sellers call a real estate agent and list at a true market price,it sells and they pay a commission.
Then of course, the past 4 years have been pretty dead. They go "by owner", then list, and when it expires go back to FSBO or, in total frustration, take it off the market completely!
Now the "For Sale By Owners" are coming back with a determination I have never seen before.
They order our "Starter Kit" and also, as never before, read every word and call to "Smart Start" the title work (saves them $$).
They are tuned in to the real market value, they refuse to have to pay comission, many times,
they offer modest
closing credits to a buyer, and THEY ARE SUCCEEDING!
It seems like Gateway is part of the FSBO underground because we get so many request from sellers who were referred by other buyers and sellers.We are working with many "family to family" transactions like never before and it seems like "starter" homes are back in demand!
Folks come out of the blue to use our services and we absolutely LOVE it!
We hope this activity is an indication of an improving market for all.
Heaven knows a better economy is what we're all praying for!
PS. Don't stop praying...We think it's working!
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