Sunday, April 15, 2007

Are All Title Policy's The Same?

I was asked to do a post explaining what an "Eagle Policy" Covers and what the difference is between the ALTA Residential and CLTA Standard Policies. Letting your buyers know what they are getting when it comes to title insurance coverage is important. You may not realize, but title companies do issue different types of policies. This may seem like major boring stuff, but your insured clients will thank you for being informed and for helping them make the right choice when it comes to selecting a title insurance policy.

To see the differences between the three, click here for a comparison.

Here is what's exciting about the Eagle Policy....


Several important new risks are now covered on a post-policy basis. This means that some defects in title that did not exist at the time the insured purchased the property, but are now asserted by others, are covered.

These post-policy covered risks involve cases in which someone other than the homeowner claims to own an interest in the title; or has rights affecting the title arising out of leases, contracts or options; or claims to have rights affecting the title arising out of forgery or impersonation; or has an easement on the land; or has a right to limit the insured's use of the land; or in which the title is defective.

The following are several examples of this post-policy protection:


The homeowner is covered when someone forges the insured's signature to a deed or mortgage in an effort to sell or impose a lien or restriction on their home.


This coverage protects the homeowner if, after his or her purchase, someone else builds a structure (excluding boundary walls and fences) which encroaches on the homeowner's land.


Coverage is provided when the homeowner's title is clouded because someone recorded in the land records a document containing the legal description of the homeowner's land, whether by mistake or in a specific effort to cause the insured harm, and the homeowner is prevented from completing a loan or sale transaction on their home.


Coverage is extended to a homeowner when someone claims to have the insured's title arising out of someone else's continued use and occupancy.


The homeowner is covered in the event another party claims to have the right to use a part of the insured's land as an easement because of continuous use over time.

Previously, these types of risks were only covered if they existed on the policy date, although our original EAGLE Policy included coverage on a post-policy basis for forgery and encroachments onto the land.

Other exciting coverages include ...


The new EAGLE Policy expands access coverage to include, for the first time, actual vehicular and pedestrian access to and from the land, based upon a legal right.
The access coverage traditionally provided by title insurance was tied to a legal right of access and did not include actual access. The new EAGLE Policy affords the type of access protection most needed by homeowners.


Coverage is extended to a homeowner who is forced to remove or correct existing structures that were built without a building permit or that violate an existing zoning law or zoning regulation. The zoning coverage even extends to boundary walls and fences!

The original EAGLE Policy coverage in this area was tied to forced removal, not forced remediation. Because we have found it far more likely that a homeowner would be forced to correct a building permit or zoning violation than to actually remove the structure, the coverage has been expanded in the new EAGLE Policy to specifically include forced remediation. The homeowner is covered for losses up to $25,000 (after a small deductible) for building permit violations and forced remediation of zoning violations, and up to the full Policy Amount for forced removal of structures due to zoning violations.


The homeowner is covered where subdivision laws have been violated prior to the homeowner's purchase and, as a result, the homeowner is unable to obtain a building permit, is forced to correct or remove the violation, or is unable to complete a sale or loan transaction. The new EAGLE Policy continues to provide homeowners up to $10,000 (after a small deductible) for protection against risk - a benefit which homeowners who obtained our original EAGLE Policy have found most valuable.


The homeowner is covered if he or she is forced to remove a boundary wall or fence because it encroaches onto a neighbor's land, onto an easement or over a building set-back line.

Previous policies excluded boundary walls and fences from this type of coverage. We have found that the encroachment of boundary walls and fences onto neighboring land is far more likely to occur than the encroachment of other structures and, therefore, have determined to provide the homeowner protection of up to $5,000 (after a small deductible) for these types of encroachments.


Coverage is provided for violations of restrictive covenants occurring before the homeowner acquired the land, if the homeowner is forced to correct or remove the violation or if the homeowner's title is lost or taken because of the violation. Examples of such violations would include the following, if not permitted by the applicable restrictions: (1) additional buildings; (2) types of roof material; (3) color of home; (4) number of stories; and (5) types of fencing. While these coverages have been available by endorsement for some time, they were never provided automatically until our original EAGLE Policy. The new EAGLE Policy expands the coverage in this area from that provided in the original EAGLE Policy by eliminating the deductible that applied to a portion of this coverage.

How To Order An Eagle Policy

Call your local title company

The EAGLE Policy. . .peace of mind for homeowners and the professionals who serve them.

Q & A - What Is Title Insurance

Why do I need Title Insurance Coverage?

Q: What is title insurance?

A: An insurance policy--protecting against loss should the condition of title to land be other than as insured.

Q: Why do I need title insurance?

A: When you buy a home, or any property for that matter, you expect to enjoy certain benefits from ownership. For example, you expect to be able to occupy and use the property as you wish, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell or pledge your property as security for a loan. Title insurance is designed to cover these rights you bargain for.

Q: What if I have a problem? Do I have to lose my property to make a claim?

A: Not at all. At the mere hint of a claim adverse to your title, you should contact your title insurer or the agent who issued your policy. Title insurance includes coverage for legal expenses which may be necessary to investigate, litigate or settle an adverse claim.

Q: What does this cost?

A: The cost varies, depending mainly on the value of your property. The important thing to remember is that you only pay once, then the coverage continues in effect for so long as you have an interest in covered property. If you should die, the coverage automatically continues for the benefit of your heirs. If you sell your property, giving warranties of title to your buyer, your coverage continues. Likewise, if a buyer gives you a mortgage to finance a purchase of covered property from you, your coverage continues to protect your security interest in the property.

Q: If my lender gets title insurance for its mortgage, why do I need a separate policy for myself?

A: The lender's policy covers only the amount of its loan, which is usually not the full property value. In the event of an adverse claim, the lender would ordinarily not be concerned unless its loan became non-performing and the claim threatened the lender's ability to foreclose and recover its principal and interest. And, in the event of a claim there is no provision for payment of legal expenses for an uninsured party. When a loan policy is being issued, the small additional expense of an owner's policy is a bargain.

Q: Can you be a little more specific about the types of claims, or risks, covered by title insurance?

A: Sure. First understand there are basically three different levels of coverage: Standard coverage, extended coverage, and our most comprehensive "EAGLE Policy" coverage.

Standard coverage handles such risks as:

  • Forgery and impersonation;
  • Lack of competency, capacity or legal authority of a party;
  • Deed not joined in by a necessary party (co-owner, heir, spouse, corporate officer, or business partner);
  • Undisclosed (but recorded) prior mortgage or lien;
  • Undisclosed (but recorded) easement or use restriction;
  • Erroneous or inadequate legal descriptions;
  • Lack of a right of access; and
  • Deed not properly recorded.

An extended coverage policy may be requested to protect against such additional defects as:

  • Off-record matters, such as claims for adverse possession or prescriptive easement;
  • Deed to land with buildings encroaching on land of another;
  • Incorrect survey;
  • Silent (off-record) liens (such as mechanics' or estate tax liens); and
  • Pre-existing violations of subdivision laws, zoning ordinances or CC&R's.

Subject to availability in your locale, First American's EAGLE Policy covers all of the risks listed above, plus:

  • Post-policy forgery;
  • Forced removal of improvements due to lack of building permit (subject to deductible);
  • Post-policy construction of improvements by a neighbor onto insured land; and
  • Location and dimensions of insured land (survey not required).

Contact your local title rep. or me if you have questions you need answered. Brad Andersohn

Taking Title? - Don't Advise, Be Wise!

Taking Title? - Don't Advise, Be wise! When a buyer purchases property in California, often times they will ask us, or you, "How should we take title?" We cannot advise the buyers, we can only suggest they speak to their CPA or attorney etc.

Now, there is a tool that helps one understand the ways in which they can take title and the different methods of holding title on real property. We provide this to our realtors and our buyers.

There is an explanation of the different ways to hold title and the benefits or explanations of each.

Don't wait till the last minute to discuss this with your buyers. They may need time to review the information and then talk to their accountant to find out what's best for them. When we're funding tomorrow and recording the next day, this is not the time for your clients to be concerned with "how to hold title". You are welcome to review this tool and maybe it will help your buyers. This is only in regards to California Real Estate.

Generate Buyers - Tax Time April 15th

Generate More Buyers - Tax Time April 15th
The best time of year to generate more buyers is tax time. In my opinion, converting renters into homeowners is the way to do just that. We all know that there is no real benefit to renting unless we absolutely have to. There are so many first time buyer loan programs, 3 percent down loans, 100% financing, Interest only and that's just to name a few I have seen and had the priveledge to close. Most people who rent may not know that the rent amount they are paying, could be equity in their own home. I have a great tool that will help you explain to your renting friends and clients the value of owning their own home based on their monthly rent payments.

Many have been able to use this tool to successfully convert renters to buyers. Tax time is perfect because renters realize they don't get any credits or tax breaks as a tenant. They have no interest to write off, no benefits of homeownership, and they are just paying off the mortgage for the landlord, will eventually own the home. Renters/Tenants are always subject to a 30 day notice to move. That can be a rude awakening.
Tis the season to help the renters in your area understand the benefits of homeownership, the creative financing that is available, and why they should use you to find them their dream home, (and us to close the escrow :-)). Use the link above to generate more buyers and educate tenants in your area. Lend a helping hand to the renters in your area! They could use your help into homeownership!

Electronic Signatures and Real Estate

I often wonder where technology is going to take the real estate transaction. Is buying Real Estate online really the way of the future? Will Online transaction management systems like AgentFirst, Sureclose, Settlementroom, or REBT's RELAY be the way we do business in the days ahead?

Now there is electronic signatures. Sending your clients contracts via email,
(in a pdf format), that they can sign online, from any computer, anywhere
in the world. WOW!

The question is, where does it go from here? What will happen to the notary? We can never replace the handshake and a smile, but will technology take us to a place where we are doing purchases and sales of real property mostly online? I'd love to hear the thoughts of those who have been facing these technology challenges as well as those who are working so diligently to create them.

It's always been interesting to me, all the new technology that has worked it's way into our industry. I remember when property was looked up on micro-fiche, and Realtors had MLS Books. No pagers, no faxes, no cell phones, no websites, no email, and no worries. Now look at our industry, can you imagine the future 10 years from now?

I am a certified trainer of e-signatures and do endorse this product. E-sign is a trademark of and electronic signatures. It is also built into, Winforms and Zipforms, your online contract library.

Agent Assist - Realtor Software

Sometime around 1998, I went to a Business Planning seminar for Realtors in San Francisco. The guest speaker and presenter was Mike Ferry. Agents spent alot of money to come see how to create an effective business plan and set their goals to be successful in Real Estate. Over 350 agents attended this Goal Planning seminar. Many bought books, videos, tapes, visual aids, cassettes and other stuff to help them with their Real Estate Business.

While at this seminar, I had what I call a BFO! (Blinding Flash of the Obvious) I realized that every agent in that room and every agent here online all have one thing in common! We ALL NEED TO MAKE MONEY! Some a little more, some a little less, so I started developing my own software application that would help Brokers and Agents determine their goals based on specific desired incomes. I know that we all want to make a million dollars, but this program is designed to help you make what you need to survive, and then some. It's called Agent Assist.

It started as a planner, then I added income and expense tracking. It grew to include sellers and buyers net sheets, progress analysis, title and escrow fees, mortgage calculator, renters chart and more. Now it has resource tracking, transaction tracking, charts and production graphs and alot of tools to assist agents with their business. Hence, the programs name Agent Assist. I am now up to version 5.0.

This program has become what it is today primarily because I have listened to my clients and their needs. It has a great, non-threatening look and feel driven by a basic flat file menu system. Agent Assist 5.0 is The Premier Real Estate Program Designed and created to assist you with many important segments of your Business. This is possibly one of the most practical applications and easiest to use programs in the Real Estate Industry.

I want you to check out the program and let me know what you think? I will provide it to you as a complimentary gift just for reading this post and in exchange, I just want you to post your comments and feedback.

The software was written in excel so you will need to have Microsoft Excel installed on your PC. (Works on the Mac if you can run windows). If you search, just type Agent Assist 5.0 and you'll find it. You can also get it from my website, Best of all, it's FREE! No gimics, no expirations, no ploys or spoofs. This is just my way of giving back to my industry, my customers, and my community.

If you are interested in a copy, post your comment and info. If you already have a copy, please post your thoughts and comments. Lastly, after trying the application, if there is something you would like to see me add or take away, please let me know. I appreciate your comments and help. Whether you are brand new in the business, or have 20 years experience, I know you'll love this program.

Save $$$ On Your Property Taxes

Claim your homeowner's exemption. What is the homeowners' exemption? Property taxes are based on the assessed value of your home, which is determined by the County Assessor's Office. In this post, I am referring to Solano County in California.

If the home is your primary residence and you are not receiving another property tax exemption of greater value, you may qualify for a homeowners exemption which will reduce the tax you pay. Once granted, the exemption continues from year to year.

To obtain the full exemption
you must make a timely filing (usually by February 15) of a simple form with the County Assessor. A partial (80%) exemption may be granted for homeowners who file a late affidavit and claim for exemption with the assessor between February 16th and December 10th. To find out more information, contact:

Solano County Assessors Office at (707) 784-6210. Or write:
Assessor Recorder
675 Texas Street. Suite 2700
Fairfield, CA 94533-6338
Hours: Mon - Fri, 8:00am - 4:00pm

The Short Sale - Can be a Long Sail...

The Short Sale - Can be a Long Sail...
What is it and how can it work for you?

In a Short Sale, you have to negotiate with the bank holding the mortgage, and get them to accept less than what the seller owes. We are seeing a lot of transactions like this in the current market. Your buyers and sellers may have questions regarding the advantages and dis-advantages of the Short Sale. One thing for sure, you might have to be in it for the long sail.

In my humble opinion, I think it's better to do a Short Sale, than a foreclosure or bancruptcy. I feel that the advantages of the Short Sale far out-weigh the advantages of a foreclosue or bancruptcy on your record.

A foreclosure does affect your credit and the ability to purchase another home anytime in the near future. I'd like to share some notes I took from last weeks seminar regarding these transaction types. You can also go see the short sales expert.

Why do banks negotiate and accept Short Sales?

  • There are many reasons banks that will agree to a Short Sale but the most common include:
  • The mortgage is past due or in a foreclosure
  • The property is in poor condition
  • The owner has sufferred a hardship and can't make the payments
  • The area or neighborhood has depreciated in value
  • New homes built are being chosen over the resale properties
  • The banks shareholders are concerned when there are too manydefaulting loans on the books
  • Some banks are required to prove a loss each month
  • An REO is a liability, not an asset. Too many liabilities will cause any business to go under if not dealt with properly and quickly

What are the steps to a successful Short Sale?
Each bank may have different requirements and regulations, this is just a sample scenario

  • Find a distressed property
  • Meet with the homeowner to put something together
  • Get a signed "Authorization to Release Form"
  • Create a contract to reflect your offer to the bank
  • Call the loss mitigation dept. at the bank
  • Fax them your offer along with the following:

a. Cover Letter explanation of why you can't offer full price
b. The owners signed sales contract
c. Justified Sales Comps of the area
d. Pictures of the property condition
e. An estimated net sheet or closing statement
f. A hardship letter from the homeowner concerned of bancruptcy
g. Detailed list of estimated costs for needed repairs

What happens to the homeowners credit?
When you negotiate a successful Short Sale, remember that the agreed upon price is payment in full. However, the homeowners may still owe the difference between the mortgage balance and the discounted amount if the bank persues the owners via a "deficiency judgement". If granted, this judgement will affect the homeowners and their credit report just as any judgement would. You must get the bank to agree to accept "payment in full without pursuit of any deficiency judgement."

In addition, you need to explain to the homeowner that the discounted amount (the difference between the mortgage balance and the Short Sale) may be declared as income on their tax return by means of a "1099". The homeowners should always consult with their accountant or a legal professional for advice.

This information is being provided to you based on a recent "Short Sale / Foreclosure" seminar, in which agents were informed of different marketing ideas regarding distressed and Bank owned properties (REO's). This post was created to share those ideas and concepts, and hopefully provide a better understanding of the Short Sale for you and your clients. Here is what other members have posted regarding Short Sales on Active Rain.

Saturday, March 17, 2007

60 Something Ways To Lose Your Property

You don't want problems from prior ownerships to interfere with your rights to your property. And you don't want to pay the potentially ruinous cost of defending your property rights in court. A title insurance policy is your best protection against potential title defects, which can remain hidden despite the most thorough search of public records and the most careful escrow or closing. For a one-time premium First American agrees to reimburse you for loss due to defects existing prior to the issue date of your policy, up to the policy amount. And, should it be needed, the policy also provides for the cost of legal defense of your title. The standard coverage policy protects you against such potential defects as:

1.Forged deeds, mortgages, satisfactions or releases.
2.Deed by person who is insane or mentally incompetent.
3.Deed by minor (may be disavowed).
4.Deed from corporation, unauthorized under corporate bylaws or given under falsified corporate resolution.
5.Deed from partnership, unauthorized under partnership agreement.
6.Deed from purported trustee, unauthorized under trust agreement.
7.Deed to or from a "corporation" before incorporation, or after loss of corporate charter.
8.Deed from a legal non-entity (styled, for example, as achurch, charity or club).
9.Deed by person in a foreign country, vulnerable to challenge as incompetent, unauthorized or defective under foreign laws.
10.Claims resulting from use of "alias" or fictitious namestyle by a predecessor in title.
11.Deed challenged as being given under fraud, undue influenceor duress.
12.Deed following non-judicial foreclosure, where required procedure was not followed.
13.Deed affecting land in judicial proceedings (bankruptcy, receivership, probate, conservatorship, dissolution ofmarriage), unauthorized by court.
14.Deed following judicial proceedings, subject to appeal or further court order.
15.Deed following judicial proceedings, where all necessary parties were not joined.
16.Lack of jurisdiction over persons or property in judicial proceedings.
17.Deed signed by mistake (grantor did not know what wassigned).
18.Deed executed under falsified power of attorney.
19.Deed executed under expired power or attorney (death, disability or insanity of principal).
20.Deed apparently valid, but actually delivered after death of grantor or grantee, or without consent of grantor.
21.Deed affecting property purported to be separate property of grantor, which is in fact community or jointly-ownedproperty.
22.Undisclosed divorce of one who conveys as sole heir of a deceased former spouse.
23.Deed affecting property of deceased person, not joining all heirs.
24.Deed following administration of estate of missing person, who later re-appears.
25.Conveyance by heir or survivor of a joint estate, who murdered the decedent.
26.Conveyances and proceedings affecting rights of service-member protected by the Soldiers and Sailors Civil Relief Act.
27.Conveyance void as in violation of public policy (payment of gambling debt, payment for contract to commit crime, or conveyance made in restraint of trade).
28.Deed to land including "wetlands" subject to public trust(vesting title in government to protect public interest in navigation, commerce, fishing and recreation).
29.Deed from government entity, vulnerable to challenge as unauthorized or unlawful.
30.Ineffective release of prior satisfied mortgage due to acquisition of note by bona fide purchaser (without notice of satisfaction).
31.Ineffective release of prior satisfied mortgage due to bankruptcy of creditor prior to recording of release (avoiding powers in bankruptcy).
32.Ineffective release of prior mortgage of lien, as fraudulently obtained by predecessor in title.
33.Disputed release of prior mortgage or lien, as given under mistake or misunderstanding.
34.Ineffective subordination agreement, causing junior interest to be reinstated to priority.
35.Deed recorded, but not properly indexed so as to be locatable in the land records.
36.Undisclosed but recorded federal or state tax lien.
37.Undisclosed but recorded judgment or spousal/child support lien.
38.Undisclosed but recorded prior mortgage.
39.Undisclosed but recorded notice of pending lawsuit affecting land.
40.Undisclosed but recorded environmental lien.
41.Undisclosed but recorded option, or right of first refusal, to purchase property.
42.Undisclosed but recorded covenants or restrictions, with (or without) rights of reverter.
43.Undisclosed but recorded easements (for access, utilities, drainage, airspace, views) benefiting neighboring land.
44.Undisclosed but recorded boundary, party wall or setback agreements.
45.Errors in tax records (mailing tax bill to wrong party resulting in tax sale, or crediting payment to wrong property).
46.Erroneous release of tax or assessment liens, which are later reinstated to the tax rolls.
47.Erroneous reports furnished by tax officials (not binding local government).
48.Special assessments which become liens upon passage of a law or ordinance, but before recorded notice or commencement of improvements for which assessment is made.
49.Adverse claim of vendor's lien.
50.Adverse claim of equitable lien.
51.Ambiguous covenants or restrictions in ancient documents.
52.Misinterpretation of wills, deeds and other instruments.
53.Discovery of will of supposed intestate individual, after probate.
54.Discovery of later will after probate of first will.
55.Erroneous or inadequate legal descriptions.
56.Deed to land without a right of access to a public street or road.
57.Deed to land with legal access subject to undisclosed but recorded conditions or restrictions.
58.Right of access wiped out by foreclosure on neighboring land.
59.Patent defects in recorded instruments (for example, failure to attach notarial acknowledgment or a legal description).
60.Defective acknowledgment due to lack of authority of notary (acknowledgment taken before commission or after expiration of commission).
61.Forged notarization or witness acknowledgment.
62.Deed not properly recorded (wrong county, missing pages or other contents, or without required payment).
63.Deed from grantor who is claimed to have acquired title through fraud upon creditors of a prior owner.

We're First American: Financially strong and reputation-proud. Let us help you avoid title problems. (For some true "stories," taken from actual Archive claim files, visit the "Claims Chronicles" reference section of our website.)

Friday, March 16, 2007

Escrow...How Does She Do It?

I was asked by a good client many years ago, "what is it that my escrow officer does for me and my clients?" She said, "I open the escrow, you pick up a check, we get a pre, my clients sign, and you bring me a commission." Well she was unaware that there is a long list of things the escrow team in my branch does on the average resale transaction. After you review this blog, you may wish to deliver flowers and wine to your escrow officer at your next closing! It takes a special person to be an Escrow Officer!

Let's visit what the escrow officers in my branch do for you and your clients.

Escrow Procedures on a Typical Resale Transaction

a. Opens escrow and orders preliminary report from title department
b. Receipts in initial buyers deposit to escrow and sends copies of receipt for deposit to both agents and new lender/loan agent
c. Sends agents or clients "So you're buying" and So you're selling" brochures
d. Reviews all title issues upon receipt of preliminary report
e. Arranges to have preliminary report sent to sellers and buyers agents and loan agent
f. Sends statements of identity to seller / buyer as needed
g. Orders payoff demands on all existing deeds of trust and liens as needed
h. Clears all title issues as needed - Examples Affidavit - Death of Joint Tenant Interspousal
i. Transfer Deed and Instructions from Spouse
j. Orders Confirming Sale Independent Administration Act
k. Releases of Internal Revenue Service Liens
l. Releases of State of California / Franchise Tax Board Liens
m. Releases of Abstracts of JudgmentReleases of Child Support / Alimony Support Judgments
through the District Attorneys Office or through Attorneys for Respondent / Defendant
n.Releases of Postponed Property Taxes
o. Releases of Delinquent Property Taxes
p. Receipts into escrow all inspections / billings affecting property - Examples
Termite Inspection / Termite CertificationRoof Inspection / Roof CertificationStructural /
Physical Inspection / Pool Inspection
q. Arranges for home warranty billing / contract to be deposited to escrow
r. Assists loan broker / lender with obtaining all information needed from escrow holder prior to drawing of loan documentation
s. Communicates with fire / hazard insurance agent and arranges to have insurance coverage and billing deposited into escrow
t. Communicates with listing / selling agents with progress reports as needed
u. Arranges for pick up / federal express of loan documents
v. Verifies final terms with listing / selling agents
w. Draws sellers and buyers escrow instructions and closing documentation
x. Makes sure we have complied with all Cal-Firpta and Firpta requirements
y. Sets up appointments for signature of sellers and buyers escrow instructions with agents]
z. Signs off sellers and buyers

Sends request for loan funds documentation to new lender (s)
2. Prepares recording voucher for County recorders office
3. Prepares request for Owners and Lenders policies of title insurance
4. Sends documents to record to County recorders office
5. Arranges for wiring / pickup of lenders and buyers funds
6. Advises both listing and selling agents that loan has funded and has been released for recording
7. Upon meeting all requirements and receipt of all funds, releases file to record with County recorder's office
8. Upon confirmation of recording disburses all funds in file to proper parties
9. Advises sellers and buyers agents we have closed their transaction
10. Prepares final HUD-1 closing statement
11. Delivers broker, buyers and sellers checks as per instructions
12. Sends via federal express all loan payoffs
13. Sends closing letters to all parties in connection with the escrow
14. Prepares 1099's for Internal Revenue Service
15. Completes internal documentation in file
16. Forwards policies of title insurance to proper parties
17. Calendars / monitors any and all "funds held" items
18. Upon release of all "funds held" and completion of all internal functions the escrow file will be sent to storage for safe keeping

When you open your next escrow, give us a try, and let us show you why your business,
should be our business! Think First, Think First American!

Thursday, March 15, 2007

Escrow Officer or Air Traffic Control....

Did you know, some of the best tools that come from affiliates in the Real Estate Industry, are not actually tools at all? Some of the very best tools in the wrong hands are useless or harmful. Take a doctor for example. You can give an unskilled physician a scalpel, (it is one of his tools), and ask him to perform heart surgery. Isn't this part of a doctors tool kit?

In deed, the right tools in the wrong hands can actually cause more harm than good! The Realtools I am blogging about today, are about a different kind of tool you should have in your toolbox. The best tools are, People with Experience! Three simple words, but try to see these words, with the power they truly carry.

Think of all the people you work with in this industry and abroad. When is experience really important to you, and when is it not? Let's start with when it is crucial. How about your surgery, your root canal, your airplane pilot, and maybe your 1st tandem jump from 10,000 feet. I know you'll agree, each of these, are areas in our lives, where experience carries the absolute most value.

There are many areas of our daily lives where we expect good service and experience. It's only when we get bad service, or an in-experienced person, that we become in tuned to this expectation. Buying a house, getting a loan, needing an appraisal, purchasing home warranty, providing homeowners insurance, trusting the termite inspection, and having faith in the comparables, are all areas we need to have experienced and knowledgeable players on our teams. The one area of Real Estate that requires crucial expertise, is someone who deals with all the above, and more.

That's right, I am talking about your escrow officer. This is your Realtool for Realtors today. First off, why do you think they are called officers? Would you rather have an experienced police officer protecting you, or a non-experienced one? Secondly, they are the next best thing to an air traffic controller. Why? Because the escrow officer is the one who has to make sure everyone on the plane lands safely and is happy.

What a Tool! A person who can communicate effectively, turn challenges into solutions, deal with multiple personalities and emotions, and remain neutral during the whole process. She has agents on both sides of the sale, buyer and seller, lender, creditors, appraisers, home warranty, inspectors, insurance and many more that she has to work with on a single home sale. On top of that, the escrow officer is governed by the DOI (dept. of insurance), HUD (Respa), and God himself to make sure everything is done by the book. Did I mention that an experienced escrow officer is nothing less than a miracle worker?

So when you think of a tool that is critical to your success in Real Estate, you should already know that the Lender is Key, but the escrow officer is the Lock, in your realtools toolbox. First American Title Company in Vallejo California, has over 60 years combined experience, 45 of those years with First American. Put us to the test! With this many years "experience", we have the products, tools and services you'll need, to get transactions closed.

Sometimes, there may be some bumps in the road, but just like turbulence on a plane, you can trust that our escrow officer (pilots) will pull you out, and land you safely, every time. Let our experience and resources help you and your clients with owning the American Dream. Think First, Think First American Title Company for ALL your title and escrow needs. Since 1889, we have been protecting the rights of homeowners all across the nation. We rely on our "experience" to see you through. Shouldn't You? First American? The only way to fly!

Click HERE for The
"Experienced" Escrow Guy