Tuesday, April 20, 2010
Sunday, April 18, 2010
TITLE TIP #6 - FILL IN THE BLANKS ... We Can't Read Your Mind!
I always tell my escrow team that they are deaf. Yes,deaf!
Why would I say that?
Because we must follow your written instructions on your real estate purchase agreement and if you leave anything blank, we can't assume what you want to happen. If something does not apply to you, use NA or cross it off so we know this was not an oversite or mistake. Make certain that you or your agent leave no blanks on the contract.
When you TELL us what you meant,be sure to put it in writing and that ALL parties sign and date the changes or addendums to your contract.
Please remember:
Your escrow officer can ONLY follow WRITTEN INSTRUCTIONS.
That's why I remind them they are "deaf" to oral instructions and can only follow those they can SEE in writing.
Take the stress out of your closing:
PUT IT IN WRITING AND LEAVE NO BLANKS!
Why would I say that?
Because we must follow your written instructions on your real estate purchase agreement and if you leave anything blank, we can't assume what you want to happen. If something does not apply to you, use NA or cross it off so we know this was not an oversite or mistake. Make certain that you or your agent leave no blanks on the contract.
When you TELL us what you meant,be sure to put it in writing and that ALL parties sign and date the changes or addendums to your contract.
Please remember:
Your escrow officer can ONLY follow WRITTEN INSTRUCTIONS.
That's why I remind them they are "deaf" to oral instructions and can only follow those they can SEE in writing.
Take the stress out of your closing:
PUT IT IN WRITING AND LEAVE NO BLANKS!
Friday, April 16, 2010
TITLE TIP # 5 DON'T GAMBLE WITH THE TITLE TO YOUR PROPERTY
TITLE TIP #5
Accepting a quit claim deed for real property is for gamblers.
Don’t take chances with your real estate investments.
Let me tell you why -
True life example:
A few years ago a Doctor came to us to insure and close on a property he just sold.
That property was given to him via Quit Claim deed from a patient who owed him a lot of Money.
The Doctor thought it was a good deal and rented out the house.
After a few years the Doctor decided to retire, sell the property as part of his retirement.
He found a ready, willing and able buyer.
We searched the title to his Quit Claimed rental and discovered there were more liens against the property than the property was worth!
When he accepted the Quit claim deed he also accepted all of the encumbrances and debt against the property!
The lesson is:
Always have the title to a property examined before you take title.
Insure the title.
Never accept a Quit Claim Deed - what you get may be more than you see!
Accepting a quit claim deed for real property is for gamblers.
Don’t take chances with your real estate investments.
Let me tell you why -
True life example:
A few years ago a Doctor came to us to insure and close on a property he just sold.
That property was given to him via Quit Claim deed from a patient who owed him a lot of Money.
The Doctor thought it was a good deal and rented out the house.
After a few years the Doctor decided to retire, sell the property as part of his retirement.
He found a ready, willing and able buyer.
We searched the title to his Quit Claimed rental and discovered there were more liens against the property than the property was worth!
When he accepted the Quit claim deed he also accepted all of the encumbrances and debt against the property!
The lesson is:
Always have the title to a property examined before you take title.
Insure the title.
Never accept a Quit Claim Deed - what you get may be more than you see!
Wednesday, April 14, 2010
GATEWAY TITLE TIP #4 - SMILE PRETTY!
When you are signing final mortgage documents, don't forget: You must bring with you, picture identification (valid driver’s license).
We have to copy this for our file.
This identification is required for closing on real estate. Oh, I know you hate that picture, Just about everyone hates that picture! :)
We have to copy this for our file.
This identification is required for closing on real estate. Oh, I know you hate that picture, Just about everyone hates that picture! :)
Monday, April 12, 2010
GATEWAY TITLE TIP #3..... WHAT'S IN A NAME?
Gateway Title - The FSBO Specialists #3 TITLE TIP: Debbie... Deborah.... Deb...Debra....Debbie K....Deborah Kay? Be careful to always sign all papers the same way in a real estate transaction. With or without your middle name, middle initial? Be consistant with what ever you call your "legal" name and avoid problems in closing!
How many identities do you have?
How many identities do you have?
Saturday, April 10, 2010
Gateway Title " Staging With Suzy" Seminar A Success!
Sitting in a class room at 9:30 on a sunny Saturday morning is probably not your idea of fun.For seven savvy sellers of beautiful local properties,it was exactly where they wanted to be. They attended "Staging With Suzy" (Suzanne Torchia Anton, REALTOR from the Realty Store).
Suzy told them like it is and showed many examples of before/after.Her tips were great! It was so interesting. I wish all sellers would get this and apply the information and "stage" their homes for sale. The whole presentation made a lot of sense.
To understand the difference between decorating and staging is so important in marketing a home.
I learned a lot and see it as: "decorating" is for the owners and "staging" is for the buyers!
How do you define it?
Suzy told them like it is and showed many examples of before/after.Her tips were great! It was so interesting. I wish all sellers would get this and apply the information and "stage" their homes for sale. The whole presentation made a lot of sense.
To understand the difference between decorating and staging is so important in marketing a home.
I learned a lot and see it as: "decorating" is for the owners and "staging" is for the buyers!
How do you define it?
Friday, April 9, 2010
TITLE TIP #2 - HOW TO SAVE MONEY ON CLOSING COSTS!
TITLE TIP #2: Sellers, would you like to know one way to save $$ on closing costs?
If you owned the property you are selling for less than 10 years, You are probably entitled to a reissue rate discount on new title insurance costs. Find your old closing HUD statement or Title insurance policy and ask the title company to check for and credit you reissue discount savings at closing. Test the integrity of a title company. Do they tell you about this savings up front? Most don't tell you because they make less money. You are entitled.
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